Los Angeles Dodger owner Frank McCourt’s high profile divorce is underway in a Los Angeles County courtroom this week. The key issue in the case is a marital property agreement signed by the couple in March 2004, just after they purchased the team from News Corp. for about $430 million. The purpose of the agreement is to shield their seven vacation homes (which were in her name) from creditors and from potential losses related to the team. The McCourts signed two versions of the marital property agreement, one to comply with Massachusetts law, and another for California, and both were signed in late March and early April of 2004. Both sides agree that the marital property agreement was executed to shield the family’s properties from litigation or creditors, but Jamie McCourt has insisted that she never agreed to give up any ownership stake in the Dodgers. Frank McCourt believes the marital property agreement makes him the sole owner of the Dodgers. Jamie contends that she never consented to giving up her stake in the franchise, and that Judge Scott Gordon should invalidate the agreement because the couple signed two conflicting versions of the document. Full Article
An antenuptial agreement is a written contract created by two people planning to be married. The agreement typically lists all of the property each person owns, as well as their debts, and it specifies what each person’s property rights will be after they tie the knot. Antenuptial agreements often specify how property will be divided and whether spousal support (alimony) will be paid in the event of a divorce. NY Domestic Relations Law § 236(B)(3) states that a nuptial agreement made before or during the marriage must satisfy three requirements to be valid and enforceable in a matrimonial action. First, the agreement must be in writing. Second, it must be subscribed by the parties, and third it must be acknowledged or proven in the manner required to entitle a deed to be recorded. An antenuptial agreement will be void if created under force or duress.
The attorneys at Leeds, Morelli & Brown, P.C. are experienced in all domestic relations matters, and have represented families in Nassau and Suffolk counties, Manhattan, Queens, Brooklyn, Bronx, and Staten Island. For any questions concerning domestic relations matters, contact an attorney at the Leeds Morelli & Brown P.C. law firm for a free consultation at 1-888-556-2529. Leeds Morelli & Brown P.C.’s divorce website is located at www.lbdivorcelaw.com.