Patricia A. Beals, Appellant v. Mark L. Beals, Appellee

Summary

The Alaska Supreme Court reversed the property characterization and valuation rulings in a divorce case. It held that the jointly titled lot purchased with proceeds from refinancing a marital home was entirely marital property, and that the marital home's equity ordinarily must be valued as close as practicable to trial rather than separation. The court remanded for revaluation and for consideration of any post-separation payment credit, offset by the value of the occupying spouse's use of the home.