Tuesday, July 20, 2010

Divorce could Dissolve the Dodgers

The divorce of Frank & Jamie McCourt has become even more heated as the couple has mutually asserted that each of them doesn’t have enough money, and bills are piling up sky high. The Judge handling their divorce has indicated that if they continue to bicker about money, he may order that the asset they are arguing about, the Dodgers, will be sold.

Can the Judge actually do that? Can the Judge order that the Dodgers be sold to the highest bidder? Absolutely!

With the downward trend of the economy, more and more couples are fighting about debt rather than assets, and most property or assets are under water and have negative equity. Sometimes even when there is property with positive equity, the debts are so overwhelming that the property has to be sold to pay off the debt.

Family Courts and Judges have the power to order what is fair and equitable, and can make decisions on how property is to be valued, divided and distributed. They can make these decisions even to the lament of Dodgers fans.

It is unlikely that the Dodgers will actually be sold because of the divorce—but not because the Court or the Judge lacks the power to order it. It was likely a serious warning from the Judge to the McCourts to stop their bickering and focus on what is truly important so that the issues can be resolved.

You can read the LA Times article here:
Judge in McCourts’ divorce case talks of Dodgers Sale




If you are interested in learning more, please call Wendy Alton at 734-665-4441 or email her at walton@psedlaw.com. More information about her firm, Pear Sperling Eggan & Daniels, P.C., can be found here: www.psedlaw.com.

 

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