Wood v. Wood

CourtConnecticut Appellate Court
DecidedOctober 27, 2015
DocketAC36307
StatusPublished

This text of Wood v. Wood (Wood v. Wood) is published on Counsel Stack Legal Research, covering Connecticut Appellate Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Wood v. Wood, (Colo. Ct. App. 2015).

Opinion

****************************************************** The ‘‘officially released’’ date that appears near the beginning of each opinion is the date the opinion will be published in the Connecticut Law Journal or the date it was released as a slip opinion. The operative date for the beginning of all time periods for filing postopinion motions and petitions for certification is the ‘‘officially released’’ date appearing in the opinion. In no event will any such motions be accepted before the ‘‘officially released’’ date. All opinions are subject to modification and technical correction prior to official publication in the Connecti- cut Reports and Connecticut Appellate Reports. In the event of discrepancies between the electronic version of an opinion and the print version appearing in the Connecticut Law Journal and subsequently in the Con- necticut Reports or Connecticut Appellate Reports, the latest print version is to be considered authoritative. The syllabus and procedural history accompanying the opinion as it appears on the Commission on Official Legal Publications Electronic Bulletin Board Service and in the Connecticut Law Journal and bound volumes of official reports are copyrighted by the Secretary of the State, State of Connecticut, and may not be repro- duced and distributed without the express written per- mission of the Commission on Official Legal Publications, Judicial Branch, State of Connecticut. ****************************************************** CURTIS WOOD v. DEBORAH WOOD (AC 36307) Gruendel, Alvord and Dupont, Js. Argued May 26—officially released October 27, 2015

(Appeal from Superior Court, judicial district of Stamford-Norwalk, Shay, J.) Thomas M. Shanley, for the appellant (plaintiff). Campbell D. Barrett, with whom, on the brief, was John H. Van Lenten, for the appellee (defendant). Opinion

DUPONT, J. The plaintiff, Curtis Wood, appeals from the court’s financial orders contained in the judgment of dissolution of his marriage to the defendant, Deborah Wood. The plaintiff’s claims are that the trial court improperly (1) calculated the value of the marital estate, (2) divided the marital estate, and (3) ordered him to make payments that exceeded the amount of funds available to him. We affirm the judgment. The record reveals the following facts and procedural history. The parties married on August 21, 2004. They have two surviving children of the marriage. On October 11, 2011, the plaintiff filed a complaint seeking the disso- lution of his marriage to the defendant. The matter was tried to the court, Shay, J., on July 23, July 25, and August 13, 2013. Both parties were represented by coun- sel and a guardian ad litem was appointed to represent the two minor children. After marrying, the parties first resided at 51 Pound Ridge Road in Bedford, New York. The plaintiff inher- ited a one-third interest in the Pound Ridge Road prop- erty and purchased the remaining two-thirds interest from his aunts. The parties sold the Pound Ridge Road property and moved to 47 Lafayette Place, Unit 6A, a condominium unit in Greenwich. The plaintiff pur- chased Unit 6A with funds from the sale of the Pound Ridge Road property. A few months after moving to Unit 6A, the plaintiff inherited 8 Grove Lane in Green- wich and the parties moved to the Grove Lane property. At that time, the Grove Lane property was subject to a mortgage. The Grove Lane property was the family residence for the remainder of the marriage. After the parties moved to the Grove Lane property, the plaintiff traded Unit 6A at 47 Lafayette Place for Unit 6B at 47 Lafayette Place. He then sold a one-half interest in Unit 6B to Dr. Halina Snowball. Snowball financed her purchase by giving the plaintiff a promis- sory note secured by a mortgage. Snowball paid the plaintiff $2000 per month on the note. The plaintiff and Snowball rented out Unit 6B and the plaintiff received approximately $550 in rental income per month. In 2011, the plaintiff subdivided a residential lot from the 8 Grove Lane property. The subdivided lot became 15 Dearfield Lane. The plaintiff then entered into an agreement with Nicholas Barile to build a residence on the Dearfield Lane lot. The plaintiff and Barile created a limited liability company, Dearfield, LLC (LLC), of which they were co-managing owners. The plaintiff transferred the Dearfield Lane lot to the LLC for $850,000. The LLC then borrowed $1,685,000 to fund the development of the property. The terms of the loan required the plaintiff to pay off the remainder of the mortgage on the Grove Lane property. He paid off the remaining mortgage, approximately $350,000, with funds from the loan that he received as a credit against the $850,000 owed to him by the LLC for the transfer of the Dearfield Lane lot. Under the terms of the agreement with Barile, once the Dearfield Lane property was sold, and all liens, mortgages, and costs were paid from the proceeds of the sale, the plaintiff was to receive what was owed to him by the LLC for the transfer of the lot, as well as 90 percent of any profits. On August 13, 2013, the final day of trial, the plaintiff testified that the LLC had received and accepted an offer for the Dearfield Lane property in the amount of $3,100,000. The plaintiff expected the sale of the Dearfield Lane property to close by the end of 2013, and that, after the closing, the plaintiff would receive $520,000 as the balance due for his original transfer of the lot to the LLC and an additional $58,000 in profits. Additionally, the plaintiff received approximately $5000 in income per month from a family trust. He was not able to borrow against the trust or compel disbursements from it. On November 8, 2013, the court issued its memoran- dum of decision. With respect to the three pieces of real estate, the court found that ‘‘the value of the [Grove Lane property] is $1,650,000; that the value of the [plain- tiff’s] share of the condominium at 47 Lafayette Place, Unit B, Greenwich . . . is $304,250; the principal bal- ance of the promissory note from . . . Snowball is $150,000; that as of the date of trial, the [plaintiff] and his partner [Barile] have accepted an offer for the prop- erty on Dearfield Lane, Greenwich, but that there is no contract of sale; that the [plaintiff] is entitled to a credit of $520,000 prior to the division of any net proceeds; that [the plaintiff] is entitled to 90 percent of any profit; and that the court is unable to determine the profit and/ or net profit, if any, therefrom as of the date of trial.’’1 (Emphasis in original.) The court ordered that the plain- tiff retain his interest in all three properties, ‘‘subject to any existing indebtedness, free and clear of any claims by the [defendant].’’ At the time of trial, neither the Grove Lane property nor Unit 6B at 47 Lafayette Place were subject to a mortgage.2 The court ordered the plaintiff to pay to the defendant ‘‘the sum of $750,000, as and for a lump sum property settlement, as follows: (a) Within sixty (60) days from the date of this Memorandum of Decision, the [plaintiff] shall pay to the [defendant] the sum of $350,000; and (b) within one (1) year from the date of this Order and annually thereafter, the sum [of] $100,000 until the lump sum property settlement is paid in full.’’ The court also ordered the plaintiff to ‘‘contribute the sum of $20,000 toward the attorney’s fees incurred by the [defendant] herein. Said fees shall be paid as follows: $10,000 within thirty (30) days from the date of this Memorandum of Decision; and the balance within thirty (30) days thereafter.’’ Additionally, the court ordered the plaintiff to pay 65 percent ($19,266) of the guardian ad litem’s fees within thirty days of the date of the memorandum of decision. This appeal followed. I The plaintiff first claims that the court improperly calculated the value of the marital estate.

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Bluebook (online)
Wood v. Wood, Counsel Stack Legal Research, https://law.counselstack.com/opinion/wood-v-wood-connappct-2015.