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My husband and I just co-filed for divorce. We have signed a…

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My husband and I just...
My husband and I just co-filed for divorce. We have signed a full separation agreement and all necessary papers are signed other than my husband needs to turn his sworn financial statement. We have an s-corp together, 50/50 ownership. In the separation agreement, in the "other terms" or whatever I wrote in that "wife assumes 100% ownership of the assets, equipment and accounts". The separation agreement has been signed, notarized and filed with the court already. NOW my husband is saying he's not going to let me have ownership and that half of it is his. We have not made moves to change anything legally with the business yet other than I did open new bank accounts. No money transferred into them, just starting with new monies. Does he have a leg to stand on?
Submitted: 7 years ago.Category: Business Law
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Answered in 31 minutes by:
6/16/2010
Business Lawyer: johnbusiness, Attorney replied 7 years ago
johnbusiness
johnbusiness, Attorney
Category: Business Law
Satisfied Customers: 4,632
Experience: I have over 15 years experience in Corporate and Business law.
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Thank your for asking Just Answer,
If the agreement says you get it then he has no leg to stand on so to speak. The way you enforce your right depends on how the divorce was handled. If the separation agreement was made part of the divorce order the it is easy. All you have to do is file a motion to hold him in contempt of court in the divorce action.
If the agreement is not part of the order then you will have to file a lawsuit for breach of contract.
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Customer reply replied 7 years ago
is changing s-corp ownership is just a matter of paperwork? Some have told me that it's not that easy to change ownership, or take it over. Is that one handwritten line in the separation agreement going to be enough to change ownership of all the equipment, vehicles etc? As it is, both our names are ***** ***** titles. Also, we have only FILED the petition, separation agreement, and all the other papers. We haven't got a decree yet. I don't know if that's what you mean by "divorce order".We just filed last week. It was amicable then, but now I guess his feelings have changed. Is the s-corp as hard to change ownership on as a regular c-corp? He has me worried.
Business Lawyer: johnbusiness, Attorney replied 7 years ago
S-Corp change in ownership does require some more paperwork than personal property in your individual names would. You may want to ask the corporate lawyers on this list how to change ownership of S-Corp assets.
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Customer reply replied 7 years ago
Relist: Answer quality.
Customer reply replied 7 years ago
The answer didn't pertain to my situation at all. As I said, we have FILED. You answered everything as if our divorce was final. I was also asking specifically about how much clout the separation agreement would have in making him follow through on me assuming full ownership of our business, since it is mentioned specifically in the separation agreement.. Your answer didn't address my question. I have an appointment with an attorney on Monday. Thank you for trying to answer but you jumped way too far ahead and didn't read my question very carefully. Thank you however.
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