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| Setoffs or Credits Upon Sale of Marital Home |
WILSON
LAW FIRM, P.L.
Attorney at Law
LAW FIRM, P.L.
Attorney at Law
W
Orange County Florida Divorce Attorney & Orlando Family Lawyer
| Free Initial Consultation |
Call the Wilson Law Firm Today at: (407) 648-5255
Available 24 Hours a Day 7 Days a Week
Available 24 Hours a Day 7 Days a Week
| Wilson Law Firm, P.L. 232 Hillcrest Street, Orlando, FL 32801 Tel: (407) 648-5255 |
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advertisements. The information presented at this site is not legal advice, and does not create an attorney-client relationship. This site is designed to provide only
general information. The facts of your case are unique, and you should consult an attorney for advice regarding your individual situation. Contact the Wilson Law
Firm to speak with an Orlando divorce lawyer and Seminole County Florida family law attorney today. The Wilson Law Firm, P.L. © 2010
advertisements. The information presented at this site is not legal advice, and does not create an attorney-client relationship. This site is designed to provide only
general information. The facts of your case are unique, and you should consult an attorney for advice regarding your individual situation. Contact the Wilson Law
Firm to speak with an Orlando divorce lawyer and Seminole County Florida family law attorney today. The Wilson Law Firm, P.L. © 2010
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| Call Today: (407) 648-5255 |
Orlando Florida Divorce Attorney & Orange County Divorce Lawyer -
| Call Today: (407) 648-5255 |
Florida Statute 61.077 - Determination of entitlement to setoffs or credits upon sale of marital home.
A party is not entitled to any credits or setoffs upon the sale of the marital home unless the parties’ settlement
agreement, final judgment of dissolution of marriage, or final judgment equitably distributing assets or debts
specifically provides that certain credits or setoffs are allowed or given at the time of the sale. In the absence of a
settlement agreement involving the marital home, the court shall consider the following factors before determining
the issue of credits or setoffs in its final judgment:
(1) Whether exclusive use and possession of the marital home is being awarded, and the basis for the award;
(2) Whether alimony is being awarded to the party in possession and whether the alimony is being awarded to
cover, in part or otherwise, the mortgage and taxes and other expenses of and in connection with the marital home;
(3) Whether child support is being awarded to the party in possession and whether the child support is being
awarded to cover, in part or otherwise, the mortgage and taxes and other expenses of and in connection with the
marital home;
(4) The value to the party in possession of the use and occupancy of the marital home;
(5) The value of the loss of use and occupancy of the marital home to the party out of possession;
(6) Which party will be entitled to claim the mortgage interest payments, real property tax payments, and related
payments in connection with the marital home as tax deductions for federal income tax purposes;
(7) Whether one or both parties will experience a capital gains taxable event as a result of the sale of the marital
home; and
(8) Any other factor necessary to bring about equity and justice between the parties.
___________________________________________________________
Please review the following Florida Statutes for some more information on Dissolutions of Marriage, Alimony,
Child Support and Time-Sharing in Florida:
Florida Statute 61.001 - Purpose of chapter.
Florida Statute 61.011 - Dissolution in chancery.
Florida Statute 61.021 - Residence requirements.
Florida Statute 61.031 - Dissolution of marriage to be a vinculo.
Florida Statute 61.043 - Commencement of a proceeding for dissolution of marriage or for alimony and child
support; dissolution questionnaire.
Florida Statute 61.044 - Certain existing defenses abolished.
Florida Statute 61.046 - Definitions.
Florida Statute 61.052 - Dissolution of marriage.
Florida Statute 61.061 Proceedings against nonresidents.
Florida Statute 61.071 - Alimony pendente lite; suit money.
Florida Statute 61.075 - Equitable distribution of marital assets and liabilities.
Florida Statute 61.076 - Distribution of retirement plans upon dissolution of marriage.
Florida Statute 61.077 - Determination of entitlement to setoffs or credits upon sale of marital home.
Florida Statute 61.079 - Premarital agreements.
Florida Statute 61.08 - Alimony.
Florida Statute 61.09 - Alimony and child support unconnected with dissolution.
Florida Statute 61.10 - Adjudication of obligation to support spouse or minor child unconnected with dissolution;
parenting plan.
Florida Statute 61.11 - Writs.
Florida Statute 61.12 - Attachment or garnishment of amounts due for alimony or child support.
Florida Statute 61.122 - Parenting plan recommendation; presumption of psychologist’s good faith; prerequisite to
parent’s filing suit; award of fees, costs, reimbursement.
Florida Statute 61.125 - Parenting coordination.
Florida Statute 61.13 - Support of children; parenting and time-sharing; powers of court.
Florida Statute 61.13001 - Parental relocation with a child.
Florida Statute 61.13002 - Temporary time-sharing modification and child support modification due to military
service.
Florida Statute 61.13003 - Court-ordered electronic communication between a parent and a child.
Florida Statute 61.13015 - Petition for suspension or denial of professional licenses and certificates.
Florida Statute 61.13016 - Suspension of driver’s licenses and motor vehicle registrations.
Florida Statute 61.1301 - Income deduction orders.
Florida Statute 61.1354 - Sharing of information between consumer reporting agencies and the IV-D agency.
Florida Statute 61.14 - Enforcement and modification of support, maintenance, or alimony agreements or orders.
Florida Statute 61.16 - Attorney’s fees, suit money, and costs.
Florida Statute 61.17 - Alimony and child support; additional method for enforcing orders and judgments; costs,
expenses.
Florida Statute 61.18 - Alimony and child support; default in undertaking of bond posted to ensure payment.
Florida Statute 61.181 - Depository for alimony transactions, support, maintenance, and support payments; fees.
Florida Statute 61.1811 - Clerk of the Court Child Support Enforcement Collection System Trust Fund.
Florida Statute - 61.1812 Child Support Incentive Trust Fund.
Florida Statute 61.1814 - Child Support Enforcement Application and Program Revenue Trust Fund.
Florida Statute 61.1816 - Child Support Clearing Trust Fund.
Florida Statute 61.1824 - State Disbursement Unit.
Florida Statute 61.1825 - State Case Registry.
Florida Statute 61.1826 - Procurement of services for State Disbursement Unit and the non-Title IV-D component of
the State Case Registry; contracts and cooperative agreements; penalties; withholding payment.
Florida Statute 61.1827 - Identifying information concerning applicants for and recipients of child support services.
Florida Statute 61.183 - Mediation of certain contested issues.
Florida Statute 61.19 - Entry of judgment of dissolution of marriage, delay period.
Florida Statute 61.191 - Application.
Florida Statute 61.20 - Social investigation and recommendations regarding a parenting plan.
Florida Statute 61.21 - Parenting course authorized; fees; required attendance authorized; contempt.
Florida Statute 61.29 - Child support guidelines; principles.
Florida Statute 61.30 - Child support guidelines; retroactive child support.
Florida Statute 61.401 - Appointment of guardian ad litem.
Florida Statue 61.402 - Qualifications of guardians ad litem.
Florida Statute 61.403 - Guardians ad litem; powers and authority.
Florida Statute 61.404 - Guardians ad litem; confidentiality.
Florida Statute 61.405 - Guardians ad litem; immunity.
Florida Statue 61.45 - Court-ordered parenting plan; risk of violation; bond.
Additional Family Law Statutes
NOTE: Florida Statutes are modified and updated from time to time by the Florida Legislature and Governor and
the latest version of the Florida Statute may not be posted on this website. In addition, you should consult with an
experienced Florida Divorce and Family Law Attorney to understand how the Florida Statutes apply and interact with
Florida case law, Florida Family law Rules of Procedure and other applicable laws and Florida Statutes.
For more information, Call the Wilson Law Firm Today at (407) 648-5255 to speak with an experienced Orlando
family law lawyer and Seminole County divorce attorney about your situation or to schedule a Free Initial
Consultation. The Wilson Law Firm represents individuals in divorce and family law cases in the Central Florida
area, including the cities of Altamonte Springs, Apopka, Casselberry, Clermont, Kissimmee, Lake Mary, Longwood,
Maitland, Mount Dora, Ocoee, Orlando, Oviedo, Saint Cloud, Sanford, Windermere, Winter Garden, Winter Park and
Winter Springs, as well as Lake County, Orange County, Osceola County, Seminole County, and Volusia County,
Florida.
A party is not entitled to any credits or setoffs upon the sale of the marital home unless the parties’ settlement
agreement, final judgment of dissolution of marriage, or final judgment equitably distributing assets or debts
specifically provides that certain credits or setoffs are allowed or given at the time of the sale. In the absence of a
settlement agreement involving the marital home, the court shall consider the following factors before determining
the issue of credits or setoffs in its final judgment:
(1) Whether exclusive use and possession of the marital home is being awarded, and the basis for the award;
(2) Whether alimony is being awarded to the party in possession and whether the alimony is being awarded to
cover, in part or otherwise, the mortgage and taxes and other expenses of and in connection with the marital home;
(3) Whether child support is being awarded to the party in possession and whether the child support is being
awarded to cover, in part or otherwise, the mortgage and taxes and other expenses of and in connection with the
marital home;
(4) The value to the party in possession of the use and occupancy of the marital home;
(5) The value of the loss of use and occupancy of the marital home to the party out of possession;
(6) Which party will be entitled to claim the mortgage interest payments, real property tax payments, and related
payments in connection with the marital home as tax deductions for federal income tax purposes;
(7) Whether one or both parties will experience a capital gains taxable event as a result of the sale of the marital
home; and
(8) Any other factor necessary to bring about equity and justice between the parties.
___________________________________________________________
Please review the following Florida Statutes for some more information on Dissolutions of Marriage, Alimony,
Child Support and Time-Sharing in Florida:
Florida Statute 61.001 - Purpose of chapter.
Florida Statute 61.011 - Dissolution in chancery.
Florida Statute 61.021 - Residence requirements.
Florida Statute 61.031 - Dissolution of marriage to be a vinculo.
Florida Statute 61.043 - Commencement of a proceeding for dissolution of marriage or for alimony and child
support; dissolution questionnaire.
Florida Statute 61.044 - Certain existing defenses abolished.
Florida Statute 61.046 - Definitions.
Florida Statute 61.052 - Dissolution of marriage.
Florida Statute 61.061 Proceedings against nonresidents.
Florida Statute 61.071 - Alimony pendente lite; suit money.
Florida Statute 61.075 - Equitable distribution of marital assets and liabilities.
Florida Statute 61.076 - Distribution of retirement plans upon dissolution of marriage.
Florida Statute 61.077 - Determination of entitlement to setoffs or credits upon sale of marital home.
Florida Statute 61.079 - Premarital agreements.
Florida Statute 61.08 - Alimony.
Florida Statute 61.09 - Alimony and child support unconnected with dissolution.
Florida Statute 61.10 - Adjudication of obligation to support spouse or minor child unconnected with dissolution;
parenting plan.
Florida Statute 61.11 - Writs.
Florida Statute 61.12 - Attachment or garnishment of amounts due for alimony or child support.
Florida Statute 61.122 - Parenting plan recommendation; presumption of psychologist’s good faith; prerequisite to
parent’s filing suit; award of fees, costs, reimbursement.
Florida Statute 61.125 - Parenting coordination.
Florida Statute 61.13 - Support of children; parenting and time-sharing; powers of court.
Florida Statute 61.13001 - Parental relocation with a child.
Florida Statute 61.13002 - Temporary time-sharing modification and child support modification due to military
service.
Florida Statute 61.13003 - Court-ordered electronic communication between a parent and a child.
Florida Statute 61.13015 - Petition for suspension or denial of professional licenses and certificates.
Florida Statute 61.13016 - Suspension of driver’s licenses and motor vehicle registrations.
Florida Statute 61.1301 - Income deduction orders.
Florida Statute 61.1354 - Sharing of information between consumer reporting agencies and the IV-D agency.
Florida Statute 61.14 - Enforcement and modification of support, maintenance, or alimony agreements or orders.
Florida Statute 61.16 - Attorney’s fees, suit money, and costs.
Florida Statute 61.17 - Alimony and child support; additional method for enforcing orders and judgments; costs,
expenses.
Florida Statute 61.18 - Alimony and child support; default in undertaking of bond posted to ensure payment.
Florida Statute 61.181 - Depository for alimony transactions, support, maintenance, and support payments; fees.
Florida Statute 61.1811 - Clerk of the Court Child Support Enforcement Collection System Trust Fund.
Florida Statute - 61.1812 Child Support Incentive Trust Fund.
Florida Statute 61.1814 - Child Support Enforcement Application and Program Revenue Trust Fund.
Florida Statute 61.1816 - Child Support Clearing Trust Fund.
Florida Statute 61.1824 - State Disbursement Unit.
Florida Statute 61.1825 - State Case Registry.
Florida Statute 61.1826 - Procurement of services for State Disbursement Unit and the non-Title IV-D component of
the State Case Registry; contracts and cooperative agreements; penalties; withholding payment.
Florida Statute 61.1827 - Identifying information concerning applicants for and recipients of child support services.
Florida Statute 61.183 - Mediation of certain contested issues.
Florida Statute 61.19 - Entry of judgment of dissolution of marriage, delay period.
Florida Statute 61.191 - Application.
Florida Statute 61.20 - Social investigation and recommendations regarding a parenting plan.
Florida Statute 61.21 - Parenting course authorized; fees; required attendance authorized; contempt.
Florida Statute 61.29 - Child support guidelines; principles.
Florida Statute 61.30 - Child support guidelines; retroactive child support.
Florida Statute 61.401 - Appointment of guardian ad litem.
Florida Statue 61.402 - Qualifications of guardians ad litem.
Florida Statute 61.403 - Guardians ad litem; powers and authority.
Florida Statute 61.404 - Guardians ad litem; confidentiality.
Florida Statute 61.405 - Guardians ad litem; immunity.
Florida Statue 61.45 - Court-ordered parenting plan; risk of violation; bond.
Additional Family Law Statutes
NOTE: Florida Statutes are modified and updated from time to time by the Florida Legislature and Governor and
the latest version of the Florida Statute may not be posted on this website. In addition, you should consult with an
experienced Florida Divorce and Family Law Attorney to understand how the Florida Statutes apply and interact with
Florida case law, Florida Family law Rules of Procedure and other applicable laws and Florida Statutes.
For more information, Call the Wilson Law Firm Today at (407) 648-5255 to speak with an experienced Orlando
family law lawyer and Seminole County divorce attorney about your situation or to schedule a Free Initial
Consultation. The Wilson Law Firm represents individuals in divorce and family law cases in the Central Florida
area, including the cities of Altamonte Springs, Apopka, Casselberry, Clermont, Kissimmee, Lake Mary, Longwood,
Maitland, Mount Dora, Ocoee, Orlando, Oviedo, Saint Cloud, Sanford, Windermere, Winter Garden, Winter Park and
Winter Springs, as well as Lake County, Orange County, Osceola County, Seminole County, and Volusia County,
Florida.
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| Orlando Divorce Lawyer |
The Law Firm handles Divorce and
Central Florida area, including Lake
County, Orange County, Osceola
County, Seminole County, and
Volusia County, Florida, and the cities
of Altamonte Springs, Apopka,
Casselberry, Clermont, Kissimmee,
Lake Mary, Longwood, Maitland,
Mount Dora, Ocoee, Orlando, Oviedo,
Saint Cloud, Sanford, Wintermere,
Winter Garden, Winter Park and Winter
Springs. If you need help with a
Alimony, Divorce or Family Law
matter, call the Wilson Law Firm
Today to speak with an experienced
Orlando Divorce Attorney and Orange
County Florida Divorce Lawyer.
Central Florida area, including Lake
County, Orange County, Osceola
County, Seminole County, and
Volusia County, Florida, and the cities
of Altamonte Springs, Apopka,
Casselberry, Clermont, Kissimmee,
Lake Mary, Longwood, Maitland,
Mount Dora, Ocoee, Orlando, Oviedo,
Saint Cloud, Sanford, Wintermere,
Winter Garden, Winter Park and Winter
Springs. If you need help with a
Alimony, Divorce or Family Law
matter, call the Wilson Law Firm
Today to speak with an experienced
Orlando Divorce Attorney and Orange
County Florida Divorce Lawyer.