Stewart v. Stewart

727 S.W.2d 416 (1987)

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Nature of the Case

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Facts

At the time of the divorce, H and W were joint owners of the marital residence. The terms of the dissolution decree referred to a written separation agreement incorporated therein. W was to be entitled to the Parties' home until their youngest son shall reach the age of majority or be fully emancipated. At that time W was to pay a sum of money equal to one-half (1/2) of the current equity in the said real estate less all proper expenses of selling said home, taxes and other fees. It is further agreed that the fair market value of said property as of the signing of this Agreement is Twenty Eight Thousand ($28,000) Dollars. The title continues in both H and W. Their youngest son became twenty-one years of age on January 28, 1984. H testified he thought he was to receive one-half of the equity valued at the time of sale. W testified he was to receive one-half of the equity, valued at the time of the dissolution decree. There was little evidence on the question of the intention of the parties at the execution of the separation agreement. The judgment of the trial court held that 'current equity' was to be measured as of the time W's obligation to pay had matured rather than the time of the dissolution decree. W appealed.