Jones v. Jones
Kentucky Court of Appeals
245 S.W.3d 815 (2008)
- Written by Meredith Hamilton Alley, JD
Facts
Ricky Jones (plaintiff) inherited a life estate in a tobacco farm. Before Ricky married Lynn Jones (defendant), they entered into a premarital agreement, which specified that Ricky’s life estate in the farm was nonmarital property. Ricky and Lynn lived on the farm during the marriage and used marital assets to complete improvements on the property, including a renovation of the house and construction of a garage and a lake. The cost of the improvements was $67,000. The parties divorced, and the trial court held that the value of the farm had appreciated by $67,000. The court concluded that $45,000 of the increased value of Ricky’s life estate was marital property. Ricky appealed, arguing that the trial court had misvalued and misclassified the increase in value of the farm
Rule of Law
Issue
Holding and Reasoning (Taylor, J.)
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