Court Opinion

ID: 9775370
Source: CourtListenerOpinion
Date Created: 2023-08-29 18:55:39.97198+00
Date Added: 2024-06-11T07:32:25.470719
License: Public Domain

KENNETH L. BUETTNER, Judge,
dissenting.
T11 In this case, Husband purchased his interest in a sub-S corporation with a down-payment of separate funds and a corporate note. The funds used to pay the corporate note were earnings of the corporation. Those earnings would ordinarily be distributed to the sub-S owners, and would thereby be marital property. As a result, the payments reducing the corporate note and thereby increasing Husband's equity in the business, should be considered payments by the marital estate. Therefore, either the Husband's equity should be considered marital property, or Wife should receive a credit for her half of the payments used to reduce the corporate note used to buy the business.
1 12 I respectfully dissent.