Tuesday, April 8, 2008

Indiana Caselaw: New marital property division case

The Indiana Lawyer Daily on April 4 published Judges rule on marital property division:

"Trial courts that order parties to sell marital residences can take into account any needed repairs and costs associated with selling residences when figuring the value, as long as those amounts are based on evidence in the record, the Indiana Court of Appeals decided today."

A unanimous three-judge appellate panel ruled today in David Keown v. Cynthia Marie Keown, No. 49A02-0706-CV-496, a Marion County case in which the ex-husband challenged a trial court's decision in recalculating the value of the marital residence as part of a dissolution's property division.

Superior Judge Thomas Carroll ordered that Cynthia Keown make necessary repairs to the house and list it for sale as quickly as possible, and in determining the value the judge reduced it by the amount of repairs not yet made to the house and the costs of sale, as well as including interest in David Keown's mother's property that had served as security for a paid-back loan. The total was $1,972 for the repair costs and $6,285.20 for costs of the sale. David challenged that judgment, and the appellate decision affirms the decision.
I have not yet had time to read the case, and the report said enough to make a post imperative.

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