An October 2024 opinion held that it was error to reduce the value of a community property house by 8% in the trial court’s property division calculation when the house was not going to be sold.
The court in Sloan v. Sloan, No. 02-23-00361-CV (Tex. App. – Fort Worth 10/17/2024)(mem. op.) held:
In the trial court‘s property division spreadsheet that was attached to its amended findings of fact and conclusions of law, the trial court found that the Texas Property would have closing costs of 8% of the total sales price if sold-i.e., $103,703.04 in closing costs. In attacking that finding, Wife complains that there is no evidence that the Texas Property would be sold and no evidence of what the closing costs would be in the event of a sale. Thus, Wife contends that there is “no probative evidence supporting a reduction of the community’s equity in [the Texas Property] by costs of sale.” We agree.
Here, no evidence was admitted at trial indicating that the Texas Property was to be sold. To the contrary, Husband testified that he wanted to keep the Texas Property and that he desired that the trial court award him the Texas Property. And that is what the trial court ultimately did. It awarded Husband the Texas Property as part of its just and right division of the parties‘ marital estate, and it found him liable for the Mortgage on the Texas Property.
. . . . Given the foregoing, we hold that the trial court abused its discretion by finding that the Texas Property would have closing costs of 8% of the total sales price if sold-i.e., $103,703.04 in closing costs-because there is not sufficient evidence to support that finding. We further hold that the trial court abused its discretion by reducing the value of the community estate based on the finding.