settlement agreement

Real estate central issue in many property division negotiations

In many Massachusetts divorces, issues involving child custody and child support take center stage. Another issue that sits at the top of most couples’ divorce proceedings involves property division. Massachusetts spouses should be aware that the time to handle all concerns that pertain to the division of property is before the divorce is final. Once the papers are signed, a spouse who is unhappy with one or more of the provisions within the agreement will have little recourse to make changes. Among the challenges of property division, issues over real estate generally top the list. Once a decision has been made concerning which party will retain the home, the next step should be providing a clean break for the other party in regard to liability for that property. Although one spouse will end up on the title to the home, both may be listed on the mortgage. This scenario leaves one person with full ownership rights to the home, and the other still on the hook for partial responsibility for paying the mortgage. In some cases, the spouse who keeps the house will stop making payments on the home for a variety of reasons, leaving the other party with badly damaged credit and no way to solve the issue other than covering the payment. The ex-spouse who signed off on the property would still not have any form of ownership in the property. The best way to avoid this problem is to clearly outline within the divorce agreement that the

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High net-worth divorce two decades in the making

Divorces happen all over the country every day; from Massachusetts to Florida, from the rich, to the not so rich. One high net-worth divorce in New York is making a headline splash all over the world. Rolling Stone magazine’s founder Jane Wenner and his wife of 43 years have divorced. Jane Wenner filed for divorce in the New York Supreme Court last June. The high net-worth divorce comes two decades after Wenner the couple, who are said to remain friendly, separated. But now they have finally signed on the dotted line and gone their legal separate ways with a tight-lipped multimillion-dollar settlement agreement. News of the divorce brought rumors that the Wenner Media publishing company would fold. In addition to the iconic rock music magazine, Wenner’s company also owns Us Weekly, Men’s Journal and Family Life magazines. However, it appears the couple settled everything amicably. The former Mrs. Wenner will reportedly receive a large cash amount. Wenner Media has reportedly made its founder $500 million. The former couple has already placed the company into a trust and will continue to share the profits. The couple’s three children and some nieces and nephews hold ownership interests as well. Since splitting from her husband nearly 20 years ago, Jane Wenner has stayed on as the company’s vice president. She helped her husband found the company in 1967 when he borrowed $7,500 to start his first magazine, Rolling Stone. Since then, Wenner’s empire has grown exponentially. He now owns a 6,300-square-foot home in

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