Posted by Nydia Streets of Streets Law in Florida Divorce
If parties cannot agree on the split of assets and debts in a Florida divorce, the court decides the issue based on Florida law. Florida Statute 61.075 guides the court’s determination of equitable distribution. In Marconi v. Erturk, 4D19-2022 (Fla. 4th DCA March 18, 2020), the former wife appealed the trial court’s decision to decline to rule on equitable distribution.
The record reflects that at the trial on the parties’ divorce action, evidence of several assets and debts and their values were presented to the court via the testimony of the parties and their financial affidavits. Despite this, the trial court declined to fashion an equitable distribution scheme, finding it lacked sufficient evidence to do so. The former wife appealed in an effort to force the court to make a determination.
On appeal, the appellate court reversed, holding “‘In determining the value of assets, a trial court may rely on one spouse's testimony where neither presents expert testimony.’ Marquez v. Lopez, 187 So. 3d 335, 337 (Fla. 4th DCA 2016). An owner of property may testify as to its value. See Valentine v. Van Sickle, 42 So. 3d 267, 278 (Fla. 2d DCA 2010) (‘The parties were competent to testify concerning the value of the marital home in which they each had an ownership interest.’); Craig v. Craig, 982 So. 2d 724, 729 (Fla. 1st DCA 2008) (‘Generally, an owner of property can testify as to its value, whether or not the owner is qualified as an expert.’); Beaty v. Gribble, 652 So. 2d 1156, 1158 (Fla. 2d DCA 1995) (finding that husband's testimony regarding value of property he owned ‘was competent evidence of the value of the building because he was the owner’). And a party's financial affidavit may constitute competent evidence of value if the party owns the property. See Noone v. Noone, 727 So. 2d 972, 974 (Fla. 5th DCA 1998).”
While it may be important to some parties to obtain an expert opinion as to the value of property, this case shows expert opinion is not always required. To understand what is required in your case to obtain the relief you want, schedule a consultation with a Miami divorce lawyer.