A division of property and assets case was recently decided by the Florida Court of Appeal in a case captioned O'Neill v. O'Neill. In this case, the Husband appealed the equitable distribution award issued by the trial court. The lower court improperly included in the division of property and assets an automobile that was no longer in the Wife's possession, failed to consider the loan balance in valuing the Husband's car, and failed to properly value the parties' investment accounts.
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 of the marriage, they conveyed four pieces of real estate to their sons. As part of the final judgment in the divorce proceeding, the trial court awarded some of the real estate that was conveyed to the children to the husband and some of this real estate to the wife.