Talley v. Paisley

The court of appeals did not err in reversing the circuit court’s judgment that Anne Talley and Daniel Paisley were to share equally in the proceeds of sale of their jointly owned real property based on their respective ownership percentages and irrespective of Paisley’s discharge of mortgage liens encumbering the property. After Paisley and Talley sold their jointly owned residence, Paisley proposed that the proceeds be divided based on the parties’ proportionate contribution and to reflect that he had contributed more to the residence. The trial court ordered the equity in the residence to be divided equally between the parties. The court of appeals reversed, holding that, as a matter of law, Paisley was entitled to be proportionately reimbursed by Talley for payments he made during their joint tenancy. The Supreme Court affirmed, holding that, under Kentucky law, joint tenants are entitled to proportionate reimbursement for the payment of liens and other encumbrances on the property. View "Talley v. Paisley" on Justia Law