Narrative Opinion Summary
In this case, the appellate court revisits its prior ruling concerning the distribution of a financial account, specifically the E.F. Hutton account, between Charles Bayliss and his spouse. Originally, the court directed the trial court to apply a percentage ratio formula for special equity, as sanctioned by the Florida Supreme Court in Landay v. Landay. However, upon reconsideration, the appellate court has vacated this portion of its opinion. The court now instructs the trial court to award Charles Bayliss one-half of the account, with a newly clarified special equity formula amounting to one-half of 40/244 of the entire consideration. This adjustment accounts for parity in distribution and considers partial distributions or equities in other properties, which remain uncontested on appeal. The revised total judgment awards $18,000, allocating $3,700 to the husband and $14,300 to the wife. The court underscores its jurisdiction to amend its judgment within the same term, which ends in January 1986, citing relevant statutory and case law authority. The decision is concurred by Judges Orfinger and Cowart, reflecting a unified appellate panel decision.
Legal Issues Addressed
Equitable Distribution and Parity Considerationssubscribe to see similar legal issues
Application: The revised judgment ensures that the distribution accounts for parity between the parties, addressing any partial distributions or equities in other properties.
Reasoning: This calculation remains subject to the trial court's orders to ensure parity between the parties due to any partial distributions or equities in other properties, which are not contested in this appeal.
Jurisdiction to Amend Judgments Within Termsubscribe to see similar legal issues
Application: The court asserts its authority to modify its opinion and judgment within the same term, allowing for adjustments in the awarded amounts based on new calculations.
Reasoning: The court asserts its jurisdiction to make these changes within the current term, which ends on the second Tuesday in January 1986, referencing relevant statutes and prior case law.
Modification of Judgment in Property Distributionsubscribe to see similar legal issues
Application: The court revises its original opinion regarding the distribution of a financial account between the parties, altering the method of calculation for special equity.
Reasoning: The court now substitutes this with a clarified instruction that the trial court should award Charles Bayliss his one-half share of the E.F. Hutton account plus a special equity calculated as one-half of 40/244 of the entire consideration.