When you’re first married, you’re in love. You’re in love with the idea of marriage, your spouse, your new life together and all the joys that come with it. During that time, many people purchase their first homes together and start a family.
In the future, the decisions made during that time will have an influence if you decide to get a divorce. It’s particularly important to understand what you’re doing when you buy a home, since the actions you take now could influence the way your property is distributed later.
Keep in mind that you or your spouse might want to purchase a home in only your name. That’s actually fine in Florida, as long as you’re married at the time. When you purchase a home, the buyer is usually listed as being married or not. That way, the courts know if both spouses should hold ownership during the property division process in the case of a divorce.
There are exceptions to this rule, like if you buy a property with an inheritance. In that case, the property might be protected from division.
Preparing for a divorce in advance might seem counterintuitive when you’re just recently gotten married, but the truth is that many marriages don’t last. Preparing when you make major purchases isn’t paranoid and doesn’t mean you don’t trust your spouse. It protects you and your spouse from trouble down the road.
Your attorney can talk to you more about how to protect your interests in your primary residency. From postnuptial agreements to having two names on a loan, there are many ways to protect what you buy during a marriage.
Source: Florida Mortgage Firm, “5 Critical Mistakes Married People Make When Buying a Home,” accessed Dec. 06, 2017
