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I have a son who formed an LLC in Dallas with 3 other people. He's divorcing. Is the LLC Com. Property?

Colorado Springs, CO |

The real estate LLC (two residential properties) is in my son's name and his partners, not his wife. Will his part of the LLC be subject to community property rights by his soon to be x-spouse and if so how is that distributed since profits are plowed back into the LLC?

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Attorney answers 1

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Assuming that the LLC was acquired during the marriage, it is marital property, subject to an equitable division in the divorce. One approach is to value his interest and award her property of equal value.

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