The division of property and assets in a divorce proceeding cannot include property that was previously conveyed to the parties’ children. In a recently decided case captioned Perez v. Perez, the parties were married for twenty-three years. The husband and wife owned several pieces of real estate. During the course…
In a Florida divorce, the value of a business is determined by valuing all of its assets and the amount of its liabilities. In Florida, businesses are valued according to their fair market value. Fair market value is the amount that a willing buyer would pay and a willing seller…
A Division of Property and Assets case was recently decided by the Florida court of Appeal. In a case captioned Ramos v. Ramos, the Court ruled that, under Florida law, the appreciation in the value of a nonmarital asset that results from the expenditure of marital funds or from marital labor…
The Division of Property and Assets statute in Florida classifies property as marital assets and nonmarital assets. A divorce court divides marital assets between the parties. However, nonmarital assets are retained by their owner. When a nonmarital asset is enhanced in value by marital labor or by marital money, the…
In a recent division of property and assets case, captioned Gotro v. Gotro the Florida Court of Appeal held that a trial court should not include expended assets in an equitable distribution scheme unless these assets were dissipated as a result of one of the parties’ misconduct. In this case,…
The division of property and assets in a Florida divorce begins with the division of the parties’ assets into two categories, marital assets and liabilities and nonmarital assets and liabilities. Marital assets are those assets accumulated during the marriage by the parties from their work, earnings and services. In determining…
The division of property and assets in a Marital Settlement Agreement can be contested in two ways. The first basis to challenge a Marital Settlement Agreement is for fraud, coercion or misrepresentation. The second basis to challenge a Martial Settlement Agreement is for unfairness. In a recent case captioned Hall…
On Behalf of Matthew Lane & Associates, P.A. | Jan 15, 2016 | Division Of Property And Assets The division of property and assets in a Marital Settlement Agreement can be contested in two ways. The first basis to challenge a Marital Settlement Agreement is for fraud, coercion or misrepresentation.…
To modify a division of property and assets, there must be a specific reservation of jurisdiction in the final judgment to make a later adjudication of property rights. In Daoud v. Daoud the Florida Court of Appeal recently stated: “Dora S. Daoud, the former wife, raises four issues in this appeal…
In cases involving the division of property and assets, the Court will identify and value all marital assets. Debts to cover nonmarital expenses should not be classified and allocated as marital debts. “Section 61.075(3), Florida Statutes (2012), requires the trial court to identify and value all marital assets and liabilities.…