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Lucy, Esq.
Lucy, Esq., Attorney
Category: Legal
Satisfied Customers: 29802
Experience:  Lawyer
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If a married couple in CA own a different % of share in a

Customer Question

If a married couple in CA own a different % of share in a corporation they started together and later divorce, are they still 50/50 owners of all those shares combined?
JA: Because family law varies from place to place, can you tell me what state this is in?
Customer: CA
JA: Has anything been filed or reported?
Customer: no, that I'm aware of
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 8 months ago.
Category: Legal
Expert:  Lucy, Esq. replied 8 months ago.

Hi,

I'm Lucy, and I'd be happy to answer your questions today.

The divorce decree should provide for dividing up the shares in the corporation. The judge can either have one spouse buy the other out or split the shares and give half to each spouse. If that didn't happen, then the shares still belong equally to both spouses as community property - but either spouse could file a Request for Order noting that this property was overlooked in the divorce and asking the judge to divide it now. This is true even if the divorce happened a while ago.

But the first step is to review the divorce decree to see what it says should have happened. Look for catch-all language, too, that says something like "All remaining property shall be divided..."

If you have any questions or concerns about my response, please reply WITHOUT RATING. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I am paid for the time I spend answering questions. If you are on a mobile device, you may need to scroll to the right. There is no charge for follow-up questions. Thank you.

Expert:  Lucy, Esq. replied 8 months ago.

Do you have any other questions about this?