Both HB 639 and SB 676 are bills concerning equitable distribution. Both
were scheduled for committee hearings on January 10, 2018.
The first bill, Senate Bill (SB) 676, is also called Equitable Distribution
of Marital Assets and Liabilities. Its purpose was to redefine the term
“marital assets and liabilities” for the purposes of equitable
distribution during a divorce. More specifically, it provides that the
term includes the paydown of principal of note and mortgages secured by
non-marital real property and certain passive appreciation in such property
in some circumstances. The bill also provides formulas for determining
the amount of such passive appreciation. The bill was approved by a vote
of 10 to 0, and it will go into effect on July 1, 2018.
The second bill, House Bill 639, outlines much the same information as
its counterpart in the Senate. It concerns the redefinition of “marital
assets and liabilities,” and it includes the redefinition for the
purpose of determining the amount of passive appreciation. It, too, was
passed, 15 votes to 0. It is currently in the Judiciary Committee and
will also go into effect on July 1, 2018.
For more information about how the bills related to your property division
process, talk to one of our skilled
Jacksonville divorce lawyers as soon as possible.
Owenby Law, P.A. can offer you reliable and compassionate advocates who are dedicated to
achieving your legal goals. Let us use our decades of combined experience
on your behalf. We understand this process may be incredibly stressful
and difficult for you and your family. Let us see what we can do to make
the experience as stress-free as possible. Our attorneys will do whatever
they can to protect your rights and future.
at (904) 770-3141 or fill out our online form to schedule a free 30-minute
case consultation today.