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Marital Home and Divorce - Post-separation Mortgage Payments
© 2005 National Legal Research Group, Inc.
NEW YORK: Palumbo v. Palumbo, 10 A.D.3d 680, 782 N.Y.S.2d 106 (2004).
The trial court erred by failing to give the husband credit for funds he spent to reduce the principal balance on the mortgage on the marital home after the parties' separation.
The husband appealed the award to the wife of a share of several properties by the trial court as part of its equitable distribution order. The appellate court affirmed as modified.
The properties in question, the former marital residence and a home in Vermont, were purchased by the husband "during the marriage" and, thus, under the governing statute, were presumptively marital property, a presumption which the husband failed to overcome. It was held that the trial court did not abuse its discretion in awarding the wife a share in the proceeds from the sale of the properties, given that she had contributed greatly to the day-to-day care of the homes and toward their actual costs.
However, it was found that the trial court had committed reversible error in that it failed to reduce the wife's share of the proceeds from the sale of the marital home so as to credit the husband with his 50% share of the money that he paid to reduce the principal balance of the mortgage on that property. As a result, the appellate court remanded the matter to the trial court for a determination of the amount the husband had expended in order to reduce the principal balance on the mortgage on the marital residence that he had paid from 1999-2001, the period between the date of separation and the sale of that property.
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