Divorce, Equitable Distribution, Court Set Listing Price Marital Property

In Ghannam v. Ghannam, the Fifth District Court of Appeals for the State of Florida decided that the trial court did not commit harmful error when it ruled that the Husband could not sell a marital property to his purported friend for $55,000 and that the property should be listed for sale for $95,000.

The trial court had initially ruled that the property be listed for sale by the Husband at a sale price consistent with a recent appraisal. The Husband entered into a contract to sell the property to a purported friend for $55,000. There is nothing in the opinion to suggest that the property was appraised for that amount.

The Wife moved for the court to determine the fair listing price of the property based upon market value. The trial court heard witnesses and admitted evidence at a hearing on the issue and ruled that the property should be listed for $95,000. The Husband appealed.

The Fifth District Court of appeals ruled that the listing price set by the court did not cause harmful error. That is the listing price was above the market price the property would not sell, but if it did sell the Husband and Wife would both stand to gain more than if the property were sold for $55,000.

In ruling as it did the Fifth District Court of Appeals ruled that on the facts before it a court can set the listing price for a marital home.

If you have questions related to your divorce, equitable distribution of marital assets and property, or the listing of a home as part of a divorce you are welcome to contact one of our divorce attorneys for a consultation to discuss your situation.