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The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
Separate Property with Equitable Distribution: Under this system, when substantially more property acquired during a marriage is owned by one spouse (e.g. title to all marital property is held in the husband's name only), the courts will make an equitable distribution of the richer spouse's property at death or dissolution of the marriage.
The reduction contained in Florida Statutes should not be confused by the Florida Constitution homestead exemption which protects the homestead from forced sale except under certain circumstances. Florida property tax homestead exemption reduces the value of a home for assessment of property taxes by $50,000, so a home that was actually worth ...
In drafting an agreement, it is important to recognize that there are two types of state laws that govern divorce – equitable distribution, practiced by 41 states, and community property, practiced in some variation by 9 states. An agreement written in a community property state may not be designed to govern what occurs in an equitable ...
Community property issues often arise in divorce proceedings and disputes after the death of one spouse. These disputes can often be avoided by proper estate planning during the spouses' joint lifetime. This may or may not involve probate proceedings. Property acquired before marriage is separate and belongs to the spouse who acquired it.
The sale of the home also includes a 2.75% commission to a real estate agent who brings in a buyer, if that agent is a member of the Keys Multiple Listing Service.
Alaskan law gives couples the option to create community property by written agreement. [35] Most community property states start with the presumption that community assets will be divided equally, whereas "equitable distribution" states presume fairness may dictate more or less than half of the assets will be awarded to one spouse or the other ...
A group of Chinese citizens living in Florida, as well as a real estate firm working mostly with Asian and Asian American clients, questioned the law in the Sunshine State, claiming it was ...