Jones v. Jones (Appellate Division, Second Department)
While the former marital residence was purchased prior to the marriage by the husband and deemed to be separate property, due to the fact that the property was used for running the couple’s horse boarding business, Misty Mountain Farm, the appreciation of value of that property is deemed a marital asset subject to equitable distribution. The appellate court determined that because of the parties’ joint contributions to the property through their work on the horse farm, the wife should be awarded 40% of the appreciation in value. As such, the value of the wife’s share of the appreciation was increased from $37,500 to $290,000.