Mabee v. Mabee

Defendant appeals from the trial court’s modification of his child support obligation which was based on an increase in his income due to capital gains realized in 1990 from the sale of property that he received pursuant to a divorce decree. Because the court awarded this property based on its then-present value, capital gain resulting from pre-propertydivision appreciation in the value of this property is not income but an asset. Therefore, we reverse and hold that the term “capital gains,” listed in 15 V.S.A. § 653(5)(A) as a component of gross income, does not include gain resulting from…