Question:
Charles Collins and Bethany Guggenheim began living together in 1977. They were not married to each other. Bethany was recently divorced and had two children from the prior marriage. As part of the property settlement, she had received title to a 68-acre farm, and Charles, Bethany, and the children moved there in 1979. They intended to restore the farmhouse (circa 1740). Charles and Bethany jointly became liable for and made payments on a bank mortgage loan, insurance, and property taxes. They maintained a joint checking account to pay for joint expenses as well as individual checking accounts. They jointly purchased a tractor and other equipment, Charles paying two-thirds of the cost and Bethany one-third. Charles also invested $8,000 of his money in additional equipment and improvements for the farm. For several years they jointly operated a small business that made no profit. Despite Charles’s contributions, the title to the farm remained at all times with Bethany. The parties experienced personal difficulties, and when they could not reconcile their differences, they permanently separated in 1986. During their cohabitation period, Charles contributed approximately $55,000 and Bethany $44,500 to the farm. Charles filed suit against Bethany. He claimed that fairness required either that Bethany and he should share title to the farm as tenants in common or that he should receive an equitable
distribution of the property acquired during the period of cohabitation. Charles did not allege that Bethany had breached any contract or engaged in any type of misconduct. The trial court dismissed the complaint. What action should a court take in a situation such as this, where unmarried, cohabiting people go their separate ways?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...