CODING: Words stricken are deletions; words underlined are additions.
House Bill 1601er


    ENROLLED

    1997 Legislature                      HB 1601, First Engrossed



  1

  2         An act relating to equitable distribution of

  3         marital assets and liabilities; creating s.

  4         61.077, F.S.; prescribing factors to be

  5         considered by a court before entering a final

  6         judgment making a determination of the credits

  7         or set-offs upon the sale of the marital home;

  8         providing an effective date.

  9

10  Be It Enacted by the Legislature of the State of Florida:

11

12         Section 1.  Section 61.077, F.S., is created to read:

13         61.077  A party is not entitled to any credits or

14  set-offs upon the sale of the marital home unless the parties'

15  settlement agreement, Final Judgment of Dissolution of

16  Marriage, or Final Judgment Equitably Distributing Assets or

17  Debts specifically provides that certain credits or set-offs

18  are allowed or given at the time of the sale. In the absence

19  of a settlement agreement involving the marital home, the

20  court shall consider the following factors before determining

21  the issue of credits or set-offs in its final judgment:

22         (a)  Whether exclusive use and possession of the

23  marital home is being awarded, and the basis for the award;

24         (b)  Whether alimony is being awarded to the party in

25  possession and whether the alimony is being awarded to cover,

26  in part or otherwise, the mortgage and taxes and other

27  expenses of and in connection with the marital home;

28         (c)  Whether child support is being awarded to the

29  party in possession and whether the child support is being

30  awarded to cover, in part or otherwise, the mortgage and taxes

31  and other expenses of and in connection with the marital home;


                                  1

CODING: Words stricken are deletions; words underlined are additions.




    ENROLLED

    1997 Legislature                      HB 1601, First Engrossed



  1         (d)  The value to the party in possession of the use

  2  and occupancy of the marital home;

  3         (e)  The value of the loss of use and occupancy of the

  4  marital home to the party out of possession;

  5         (f)  Which party will be entitled to claim the mortgage

  6  interest payments, real property tax payments, and related

  7  payments in connection with the marital home as tax deductions

  8  for federal income tax purposes;

  9         (g)  Whether one or both parties will experience a

10  capital gains taxable event as a result of the sale of the

11  marital home; and

12         (h)  Any other factor necessary to bring about equity

13  and justice between the parties.

14         Section 2.  The provisions of this act apply to all

15  settlement agreements entered into or actions filed on or

16  after October 1, 1997.

17         Section 3.  This act shall take effect October 1, 1997.

18

19

20

21

22

23

24

25

26

27

28

29

30

31


                                  2