BY AWARDING WIFE EQUALIZATION PAYMENT BASED ON PAY-DOWNS MADE ON MORTGAGES ON MARITAL HOME TITLED IN HUSBAND'S NAME AND ALSO CONSIDERING THE SAME PAY-DOWNS IN ITS RATIONALE TO AWARD WIFE LUMP SUM ALIMONY BASED ON MARITAL CONTRIBUTIONS SHE MADE TO A NON-MARITAL ASSET, COURT ESSENTIALLY "DOUBLE-DIPPED."
The trial court awarded the wife $1.25 million as a lump sum alimony award, based on the marital contributions she made to the husband's non-marital asset (the former marital residence), as well as the appreciation of those contributions. But, the trial court also awarded the wife $173,469 as an equitable distribution award based on the same contributions. The District Court reversed the equitable distribution award:
1. "The trial court considered the forensic accountant figures [as to mortgage pay-downs] in calculating an equitable distribution award of $173,469 to the wife. However, the trial court also considered those same figures in its rationale to award the wife $1.25 million as a lump sum alimony award, based on the marital contributions she made to the non-marital asset, as well as the appreciation of those contributions."2. "At issue are the pay-downs on the three mortgages on the residence. Consequently, the equitable distribution award of $173,469 partially allows the wife to essentially double-dip from her contributions to this asset and is error."
3. "Therefore, the $174,469 equitable distribution award must be recalculated by eliminating the mortgage pay-downs from the calculation."
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