One of the major issues that divorces can involve is how property will be divided between the divorcing parties. This can be seen in a celebrity divorce that was recently finalized.
The divorce involved World Wrestling Entertainment star Randy Orton. Orton got married in 2007. This March, his wife filed a petition for a divorce. Last month, the divorce between Orton and his wife was made final.
Reportedly, Orton and his ex-wife resolved the issues related to their divorce through a settlement agreement. One of the issues this agreement regarded was property division. There are a wide variety of different types of property settlement agreements regarding property division can cover.
One type of property that property division settlements sometimes involve is physical property (like cars and homes). Under the terms of their settlement agreement, Orton’s ex-wife gets a car, a house and her jewelry, while Orton gets three vehicles, a house, his jewelry and his gun collection.
Another type of property that property division settlements sometimes regard are bank accounts. In their settlement, Orton’s ex-wife gets one bank account, while Orton gets the others.
Property division settlements can also involve things like contract rights. The settlement agreement of Orton and his ex-wife contains terms regarding a contract. The contract in question is Orton’s WWE contract. All title, rights and interest in this contract go to Orton under the settlement.
As this case illustrates, property division can involve a wide variety of different types of property and the issue of property division is sometimes resolved through a settlement. Settlement negotiations involving property division can be very complex. This is one of the many reasons why having strong and experienced representation can be very important when one is going through a divorce.
Source: TMZ, “WWE Star Randy Orton – Divorced – He Gets Bentley & Guns,” July 10, 2013