Bayne v. Bayne

In this declaratory judgment action in which ex-husband (Husband) sought a declaration that he was entitled to one-half of the proceeds of a home awarded to the ex-wife (Wife) in the divorce decree and sold two years later when Wife decided to remarry, the Supreme Court affirmed the judgment of the district court declaring that Wife had timely refinanced the house and that, therefore, Husband was not entitled to one-half of the proceeds from its later sale, holding that the district court's judgment was correct. A provision in the dissolution decree stated that Wife would have the home refinanced into her own name within twelve months of entry of the decree and that, if she did not, the house should be sold and the parties should equally divide any proceeds. Wife was approved for refinancing within one year of the entry of the dissolution decree, but the bank did not schedule closing on the refinance until thirteen months after the entry of the dissolution decree. The Supreme Court affirmed, holding that because Wife made a good faith effort to complete refinancing within twelve months and Husband did not incur any harm as a result of the delay in closing, the sale of the house and equal division of the proceeds was not required. View "Bayne v. Bayne" on Justia Law