During trial, wife testified that the marital residence had been listed for sale at $279,000 with two outstanding mortgages, totaling $170,000. The parties agreed that the residence had roughly $100,000 in equity. To wife’s knowledge, husband had paid all mortgage and tax payments. He had not.
Then, judgment for foreclosure and sale of the marital residence was entered. The report of sale and the order of possession of the marital residence were entered. No equity remained in the marital residence following the foreclosure sale.
The Judge did not address the foreclosure proceedings on the marital residence. She ordered the parties to sell the marital residence and divide the proceeds. Husband was ordered to pay wife $60,000 and he appealed.
The Appellate Court found that the Trial court erred in awarding the ex-wife $60,000 from the proceeds of the sale of the marital home for a number of reasons. (1) The record showed that the trial court was unaware that the marital home had been the subject of a foreclosure sale that resulted in no proceeds for the parties when awarding the ex-wife 60 percent of the proceeds from the sale of the marital home in the original judgment. (2) The trial court was not considering any increase or decrease in the value of the marital home because at no point did the marital home have any equitable value during trial on property distribution issues.
The Appellate Court sent the case back to the trial court to use its equitable remedies to afford the ex-wife some sort of relief. The ex-wife had requested maintenance for her lost equity in the marital residence following foreclosure sale.
Jones v. Jones, 5-18-0388, Wednesday, October 23, 2019