According to new legal documents, obtained by The Blast, the reality star has agreed to sell their home in Valley Village, CA — a town on the outskirts of Los Angeles — and will split any proceeds from the sale.
As we reported, the couple settled their divorce and agreed not to pay each other spousal support. Legally, the former couple will receive, “half of the proceeds from the sale of their Valley Village. CA residence, which closes in August 2022.”
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Tom Schwartz & Katie Maloney Split Money From Home Sale In Divorce
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In most celebrity cases, an “equalization payment” is made from one person to another, if one wishes to continue living in the property purchased during the marriage. In this case, they are both on bail at home. Honestly, it’s not a terrible time to sell real estate in this area.
“The parties agree that the awarding of community property assets and the assignment of community property assets and liabilities above result in an equal division of community assets and liabilities, including the fulfillment of all repayments due from one party to the other, so that there is no equalization payment . is due from one party to the other,” reads the agreement.
Interestingly, a note was added in the divorce settlement about “celebrity goodwill.” We’re guessing this is any fame and social media following the former couple may have gained while together, including any business or income that comes from that fame. We have never seen this in a divorce. It reads, “All celebrity goodwill, professional goodwill or any other kind of goodwill owned by (them) including goodwill relating to any business, project or profession undertaken at any time.”
‘Vanderpump Rules’ Stars Will Take Care of Their Own Television Royalty
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We’re not sure what kind of royalties might come from ‘Vanderpump Rules,’ but they’re going to keep it. Additionally, “all intellectual property, residual and contractual rights created” by Katie and Tom, including vehicles, jewelry and clothing.”
According to the agreement, Tom will keep his undeveloped parcel of land located in Yulee, Florida. A quick search shows that this is a beach town located near Jacksonville, Florida. Must be good.
We broke the story, Maloney filed for divorce in March after announcing the split on social media.
Katie Maloney Breaks Silence On Split With Tom Schwartz
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“After 12 years of journeying through life together, Tom and I are ending our marriage. This ending is not filled with hatred or animosity, there are no sides to choose from. We have a deep admiration for each other that will always last and we cherish our friendship, ” he wrote.
Adding, “Although we may be on different paths, we will continue to love and support each other’s happiness, Thank you for all the kind words and support.”
We hate to say it, but all this emotional drama and relationships make for VERY good reality television.
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Source: thtrangdai.edu.vn/en/
