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Wife petitioned for divorce on adultery grounds. The Supreme Court found the evidence supported the finding that the parties intended the land surveying business to be the common property of the marriage. Urquhart, both of Law Office of Thomas F.
McDow, Rock Hill, for Petitioner. We find the evidence preponderates in support of a finding that the parties intended the land surveying business to be the common property of the marriage. It was a second marriage for both, and they have no children together.
Wife instituted this divorce action against Husband in Mayon the grounds of adultery. Husband and Wife met and began their relationship in Wife worked as a registered nurse in Rock Hill, South Carolina.
Husband, a licensed professional land surveyor, was living and working in Winston-Salem, North Carolina. In addition to his full-time job, Husband regularly took side jobs as a surveyor.
InHusband quit his full-time job and became selfemployed, incorporating his surveying business Business 1 and initially operating 1 The Business was incorporated as a statutory close corporation, or "S-Corp.
Although this arrangement began at the inception of the Business before the parties were married it also continued during the marriage and did not cease until approximately six months after Wife filed for divorce. After the parties married inthey agreed for Wife to take on an increased role and participation in the Business and work only part-time at the hospital.
As the Business grew, Wife increased her commitment to the Business, often working 35hour weeks, while ultimately decreasing her nursing job to one day per week. The record reveals that, at the time of marriage, the parties were still servicing debt associated with the geodimeters.
Further, in Novemberboth Husband and Wife signed an unlimited personal guaranty agreement to secure 2 Inthe parties purchased with marital funds a property located at Tom Hall Street in Fort Mill and operated the Business from there.
When Wife further reduced her hospital work schedule to one day per week, she was no longer eligible to receive health insurance benefits. Thus, beginning inboth parties obtained health insurance coverage through the Business.
In identifying marital property, the family court found the Business was transmuted into marital property and was properly included in the marital estate. Specifically, the family court found: The [Wife] and [Husband] both worked in the company, increased its value, had a plan for growing and developing the business, jointly made decisions as to the business, jobs, loans, and employees.
The [Wife] signed an unlimited guarantee for the business. The [Husband] clearly treated the business as a martial [sic] asset during the entirety of the marriage. In including the value of the Business 5 Husband claims "the" loan for which the guarantee was executed was timely repaid, so "the guaranty agreement expired by its own terms.
The marital estate was apportioned accordingly. The court of appeals affirmed in part and reversed in part.ac 1 pd rev. 10/18/ case pittman company pittman company budgeted income statement contribution format income statements 1a.
original plan % 1b. raise agents' % to 20 % 1c. Pittman v. Home Owners' Loan Corp., U.S. 21 () Pittman v.
Home Owners' Loan Corp. Petitioner suggests that the Crosland case may be distinguished; Page U. S. functions, but has the power to protect the operations thus validly authorized.
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