Division of family property after divorce HW

Division of family property after divorce HW

Marcia and Mitch Dawson had been living together in New Mexico since 1998. They purchased a condo together as joint tenants in April 1999. Mitch made the downpayment from his savings. The mortgage payments were made from commingled funds before and after the marriage. Marcia and Mitch married July 2003. In July 2009, they separated.

In August 2006, Marcia founded ChemTech Systems, with $50,000 that she received as an inheritance from her grandmother. She worked full time for ChemTech and owned all of the company’s stock. Mitch continued with his job with another employer and was not involved in ChemTech’s operations. Due to limited financial resources, Marcia did not draw a salary from ChemTech until August 2008.

In September 2009, ChemTech’s first product was approved by the Food and Drug Administration. Shortly thereafter, Marcia sold all of her ChemTech stock to a large pharmaceutical firm for $50 million. Two days later, Marcia filed for dissolution of marriage.

Discuss the legal ramifications of the division of condo, ChemTech and other assets. Would it make any difference if Marcia sold the property after filing for the dissolution of marriage?

Submit your answers in a 3 page Microsoft Word document.

Name your document: SU_MBA5005_W4_A2_LastName_FirstInitial.doc.

must be in APA style with cictations

must be completely original work

You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.

Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.

Likewise, large type, large margins, large indentations, triple-spacing, increased leading (space between lines), increased kerning (space between letters), and any other such attempts at “padding” to increase the length of a paper are unacceptable, wasteful of trees, and will not fool your professor.

The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument.