Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 752
       
       
       
       
       
       
                                Barcode 461180                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/13/2012           .                                
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       The Committee on Judiciary (Flores) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Paragraph (a) of subsection (6) and subsection
    6  (10) of section 61.075, Florida Statutes, are amended to read:
    7         61.075 Equitable distribution of marital assets and
    8  liabilities.—
    9         (6) As used in this section:
   10         (a)1. “Marital assets and liabilities” include:
   11         a. Assets acquired and liabilities incurred during the
   12  marriage, individually by either spouse or jointly by them.
   13         b. The enhancement in value and appreciation of nonmarital
   14  assets resulting either from the efforts of either party during
   15  the marriage or from the contribution to or expenditure thereon
   16  of marital funds or other forms of marital assets, or both.
   17         c. The value of the marital portion of the passive
   18  appreciation of nonmarital real property as provided in s.
   19  61.0765(2).
   20         d.c. Interspousal gifts during the marriage.
   21         e.d. All vested and nonvested benefits, rights, and funds
   22  accrued during the marriage in retirement, pension, profit
   23  sharing, annuity, deferred compensation, and insurance plans and
   24  programs.
   25         2. All real property held by the parties as tenants by the
   26  entireties, whether acquired before prior to or during the
   27  marriage, shall be presumed to be a marital asset. If, in any
   28  case, a party makes a claim to the contrary, the burden of proof
   29  shall be on the party asserting the claim that the subject
   30  property, or some portion thereof, is nonmarital.
   31         3. All personal property titled jointly by the parties as
   32  tenants by the entireties, whether acquired before prior to or
   33  during the marriage, shall be presumed to be a marital asset. In
   34  the event a party makes a claim to the contrary, the burden of
   35  proof shall be on the party asserting the claim that the subject
   36  property, or some portion thereof, is nonmarital.
   37         4. The burden of proof to overcome the gift presumption
   38  shall be by clear and convincing evidence.
   39         (10)(a) To do equity between the parties, the court may, in
   40  lieu of or to supplement, facilitate, or effectuate the
   41  equitable division of marital assets and liabilities, order a
   42  monetary payment in a lump sum or in installments paid over a
   43  fixed period of time.
   44         (b) If installment payments are ordered, the court may
   45  require security and a reasonable rate of interest, or otherwise
   46  recognize the time value of money in determining the amount of
   47  the installments. If security or interest is required, the court
   48  shall make written findings relating to any deferred payments,
   49  the amount of any security required, and the interest. This
   50  paragraph does not preclude the application of chapter 55,
   51  relating to judgments, to any subsequent default.
   52         Section 2. Section 61.0765, Florida Statutes, is created to
   53  read:
   54         61.0765 Valuation of marital portion of nonmarital real
   55  property.—
   56         (1)(a) The total value of the marital portion of nonmarital
   57  real property consists of the sum of the following:
   58         1. The value of the active appreciation of the property as
   59  described in s. 61.075(6)(a)1.b.
   60         2. The amount of the mortgage principal paid from marital
   61  funds.
   62         3. A portion of any passive appreciation of the property,
   63  if the mortgage principal was paid from marital funds.
   64         (b) The value of the marital portion of nonmarital real
   65  property may not exceed the total net equity of the property on
   66  the valuation date in the dissolution action.
   67         (2) The marital portion of the passive appreciation as
   68  provided in subparagraph (1)(a)3. is calculated by multiplying
   69  the passive appreciation of the property by the marital
   70  fraction.
   71         (a) The passive appreciation of the property is calculated
   72  by subtracting all of the following from the value of the
   73  property on the valuation date in the dissolution action:
   74         1. The gross value of the property on the date of the
   75  marriage or on date the property was acquired, whichever is
   76  later.
   77         2. The value of the active appreciation of the property
   78  during the marriage as described in s. 61.075(6)(a)1.b.
   79         3. The amount of any additional debts secured by the
   80  property during the marriage.
   81         (b) The numerator of the marital fraction consists of the
   82  amount of the mortgage principal paid on any mortgage on the
   83  property from marital funds. The denominator consists of the
   84  value of the property on the date of the marriage, the date of
   85  acquisition of the property, or the date the property was first
   86  encumbered by a mortgage on which principal was paid from
   87  marital funds, whichever is later.
   88         (3) The court in a dissolution action must apply the
   89  formulas provided in this section to determine the value of the
   90  marital portion of nonmarital real property subject to equitable
   91  dissolution unless a party presents sufficient evidence to
   92  establish that the application of these formulas is not
   93  equitable under the particular circumstances of the case.
   94         Section 3. This act shall take effect July 1, 2012.
   95  
   96  ================= T I T L E  A M E N D M E N T ================
   97         And the title is amended as follows:
   98         Delete everything before the enacting clause
   99  and insert:
  100                        A bill to be entitled                      
  101         An act relating to equitable distribution of marital
  102         assets and liabilities; amending s. 61.075, F.S.;
  103         redefining the term “marital assets and liabilities”
  104         to include the value of the marital portion of the
  105         passive appreciation of nonmarital real property;
  106         authorizing a court to require security and the
  107         payment of a reasonable rate of interest if
  108         installment payments are required for the distribution
  109         of marital assets and liabilities; requiring the court
  110         to provide written findings regarding any installment
  111         payments; creating s. 61.0765, F.S.; providing
  112         formulas for the calculation of the value of the
  113         marital portion of nonmarital real property subject to
  114         equitable distribution; requiring the court in the
  115         dissolution action to use the formulas unless
  116         sufficient evidence is presented showing that the
  117         application of the formulas is not equitable;
  118         providing an effective date.