community property Archives > Ferraro Law Group, PL

community property

The Difference Between Community Property and Equitable Division

house with gavel and moneyDeciding who gets what when a couple divorces is an emotionally charged issue. How property is divided among the parties depends on where you live. Some states are considered community property states, which means all property the couple acquired while married is considered equally owned by each spouse. When a couple files for divorce in a community property state, the property is divided in a 50/50 split.

 

The opposite of community property is called equitable distribution. Florida is an equitable distribution state. This means when parties divorce, the marital property is divided equitably. This does not mean equally, it means the Court will consider what is most fair when making its property division order. Some of the things the Court will consider when deciding a fair distribution of property include:

 … Continue reading