OWNERSHIP OF COMPANY AND DIVORCE ASSETS

Asked about 1 year ago - New York, NY

IF MY COMPANY SHARES ARE CONSIDERED MARITAL PROPERTY, AFTER ALL IS SAID AND DONE. WILL I STILL RETAIN OWNERSHIP OF THE COMPANY?

Attorney answers (4)

  1. Robert K. Erlanger

    Contributor Level 13

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    Answered . As another attorney noted, you haven't provided nearly enough facts. Generally, the value of the business is thrown in the soup of all assets. So for example, if you and your spouse also own property, your spouse might keep the property and you would keep the business (or your share of it); if there is a differential in value between the house and the property, one spouse would make up the difference in cash or other equivalent assets. Its mostly a negotiation. Discuss this with your family law attorney and if you don't have one, get one and don't rely on guidance from this website.

  2. David Alexander Browde

    Pro

    Contributor Level 20

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    Answered . That depends - are you the sole owner? Are there other shareholders? What will be the outcome of the negotiation over the company shares?

    Without answers to the above it's impossible to predict.

    Under the rules governing the conduct of attorneys in New York it may be necessary to remind you that this answer... more
  3. Peter Christopher Lomtevas

    Pro

    Contributor Level 20

    3

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    Answered . That is contained your stip of settlement or judgment. Go by what that says. If there is no mention of ownership change, then the pre-divorce owner is still in place.

    Good luck.

  4. Scheherazade B Rastegar-Djavahery

    Contributor Level 14

    2

    Lawyers agree

    Answered . More information is needed to answer your question. Contact an experienced attorney for a consultation. Good luck.

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Divorce

Divorce is the process of formally ending a marriage. Divorces may be jointly agreed upon, resolved by negotiation, or decided in court.

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