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Litigation
Credit for Payment of Marital Obligation
The former husband was entitled to a credit prior to transfer of a lump sum payment to the former wife because he made payments related to the parties' real property that were marital obligations. Chabbott v. Chabbott, 2001-05392, N.Y. Sup. Ct., App. Div, 2d Dept., June 16, 2003.
The parties were divorced in 1998. As part of the financial settlement, the former husband was required to make a payment to the former wife from funds held in escrow resulting from the sale of real property previously owned by the parties during the marriage. The former husband claimed he was entitled to a credit representing his share of carrying charges on the parties' former marital home, and another credit representing his share of carrying charges on the parties' former summer home. The appellate court agreed that the payments made by the husband were obligations of both parties because the parties' agreement indicated that the payments were marital obligations. In addition, the appellate court held that the trial court erred insofar as it denied the former husband's application for a credit for back taxes owed to the Internal Revenue Service. This too, was a joint obligation to be shared equally by the parties.
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