Court Opinion

ID: 9527196
Source: CourtListenerOpinion
Date Created: 2023-08-07 03:28:14.708954+00
Date Added: 2024-06-11T13:25:37.059947
License: Public Domain

D. C. Riley, J.
The present matter involves a property division in a judgment of divorce. The defendant-husband argues that the amount awarded to him as his share of the equity in the family residence is inadequate and inequitable.
The marital home was purchased in 1971 for $31,800. At the time of the divorce (1976), there was a mortgage balance on the house of approximately $24,000. An expert witness testified that the market value of the house at the time of the divorce was approximately $52,500.
The court awarded the house to plaintiff-wife, along with the obligation to pay the mortgage, taxes, insurance, and maintenance expenses on the home. Defendant was awarded $4,000 as his share of the equity, payable by plaintiff on the date that the house is sold or when the youngest of 3 minor children reaches the age of majority, whichever occurs first.
*41Defendant asserts that the court reached the $4,000 amount by figuring approximately 1/2 of the difference between the purchase price and the outstanding mortgage. He contends that this calculation was an abuse of discretion because it did not take into account the appreciation of the house by way of the present market value.
We agree with Judge Beasley’s dissent that the division of property in a divorce case is a matter for the discretion of the trial court and that there are no set mathematical rules or formulas to be applied in every case. However, while the amounts awarded need not meet any numerical standard, they must be fair in light of the overall financial circumstances of the parties.1
We are troubled by the court’s finding in regard to the marital residence for the reason that the defendant not only will not share in the appreciation of the house from the original purchase date to the date of the property settlement, he will also be obliged to wait for the lesser sum set by the court until the eventual date of sale. He will share neither in the appreciation that will continue nor will his award bear interest. Absent any unusual circumstances, we do not feel that the award as granted is equitable to both parties.2
Accordingly, we remand the matter to the trial court to review its property division and to advise this Court as to the basis for its determination on the record. GCR 1963, 517.1. The trial court should not be foreclosed from conducting another hearing *42or making additional findings of fact and determinations that it may deem advisable.
Remanded for proceedings consistent with this opinion. We retain jurisdiction.
Bashara, J., concurred.

 Crane v Crane, 17 Mich App 588; 170 NW2d 194 (1960).

 An unequal distribution of a marital asset can clearly be supported by a finding of fault on the part of either party. In the present case, the court’s finding in regard to the division of the marital home does not expressly rely on a finding of fault. For that reason, our decision presumes that the court meant to make fair and equitable division of the asset.