Summary
In Kennedy v. Kennedy, 448 So.2d 1227, 1227 (Fla. 2d DCA 1984), the husband had furnished a $6,000 down payment with non-marital funds in connection with the purchase of the marital home, for which the entire consideration was $46,000.
Summary of this case from Adair v. AdairOpinion
No. 83-1637.
April 25, 1984.
Appeal from the Circuit Court, Pinellas County, John S. Andrews, J.
Joseph M. Ciarciaglino, Jr., of Osborne Ciarciaglino, St. Petersburg, for appellant.
James C. McKenzie, Clearwater, for appellee.
In this appeal from a judgment of marriage dissolution, the husband complains that the trial court erred in failing to grant him a special equity in the marital home.
The parties were married in 1979. The home was purchased in December of 1980 for $46,000. Title was placed in the parties' names as tenants by the entireties. The $6,000 down payment was furnished by the husband from a source totally unconnected to the marital relationship. There was no evidence that the husband intended the down payment as a gift to the wife.
This case is controlled by Landay v. Landay, 429 So.2d 1197 (Fla. 1983), in which the supreme court stated:
[T]he correct formula to be used in situations where a spouse furnishes some but not all of the consideration for entireties property, may be stated thusly: in addition to that spouse's automatic one-half share, the contributing spouse acquires a special equity in the property equal to one-half the ratio which that spouse's contribution bears to the entire consideration.
429 So.2d at 1200. Applying the Landay formula to the case at hand, the husband is entitled to a special equity in the marital home of 6 1/2% ($6,000 ÷ $46,000 X 1/2).
Accordingly, the final judgment is reversed to the extent that the husband shall be entitled to a 56 1/2% interest in the marital home. Pursuant to the provisions of the judgment, at such time as the home is sold, the husband should be credited with 56 1/2% of his payments made on mortgage principal during the time the wife has retained exclusive possession in order to raise the children. We affirm the judgment in all other respects.
BOARDMAN, A.C.J., and DANAHY, J., concur.