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In the present case, the court had the power to order the sale of all of the property or to make the parties tenants in common, which would then give either party the right to seek formal partition of any or all of the property.
MYATT APP ERROR 492 TRIAL
We upheld this order as a proper exercise of the trial court's discretion in the division of property. However, after attempting to so divide the property, the court found it could not in fact make an equitable physical division and instead ordered the property sold at a public sale and the proceeds divided. In Jekot, the parties both requested the trial court to effect a physical partition of a parcel jointly owned by them, so that they could receive *309 their equitable shares. The husband objects to this order requiring sale of all the property, claiming that a physical division or sale of less than all of the property would award the wife her equitable share. The court allowed the husband to continue to operate the ranch until the sale, and charged him with the responsibility of selling the assets, subject to court approval. and divide the net proceeds.Ĭonsequently, the court ordered that all real property of the parties and the stock representing 85% of Weaver Ranches, Inc., held by the parties, be sold within one year of the decree. Therefore, the Court specifically finds that there is no way to fairly divide the marital property other than to sell all the assets. In addition, there is a pronounced lack of liquid assets which prevents the retention of any part of the marital property by either party in such a way as to allow the other party to receive their equitable division. The evidence does indicate that the value is highly speculative and the only reasonable way to establish market value is to sell the property. The court made the following findings: The evidence relating to market value of the properties does not establish such market value with sufficient certainty to enable the Court to equitably divide the property. The allocation between marital and nonmarital property and this percentage allocation is not being appealed. The court set aside to the husband, as his separate property, the value at the time of the marriage of the 2,100 acres which he brought into the marriage, and the value at the time he received it of the gift of the 750 acres ($79,350 total), and then decreed that the husband be awarded 60% of the marital property and the wife be awarded 40%. Much of the property was subject to substantial encumbrances, and there were few assets available that could be converted to cash for a property division. The evidence as to the value of the land varied considerably.
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The parties also purchased a city block in West Laramie, Wyoming. The husband held 75% of the stock of the corporation, the wife held 10% and each of their three children held 5%. The corporation also owned all cattle and equipment used in the ranching operation. The balance of the acreage, part of which was transferred into Weaver Ranches, Inc., a corporation formed by the parties in 1972, was purchased by the parties during the marriage. The husband brought 2,100 of these acres into the marriage and acquired 750 acres as a gift during the marriage. The parties owned and operated a large ranching operation in northern Colorado and southern Wyoming consisting of approximately 12,860 acres. Weaver appeals the property division and child support orders entered in connection with the dissolution of his marriage of 22 years to Geraldine P. Bloom, Fort Collins, for appellant.Īdrian F. Harden, Napheys, Schmidt, Hass & Bloom, P. Carroll, Jr., Fort Collins, for appellee. As Modified On Denial of Rehearing September 1, 1977.
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WEAVER, Appellee, andĬolorado Court of Appeals, Div. 571 P.2d 307(1977) In re the MARRIAGE OF Geraldine P.