Texas couples may be interested in the high-profile divorce of Lamar Odom and Khloe Kardashian. When it comes to the proposed sale of their California mansion, their situation illustrates how an amicable division of assets can occur during divorce proceedings.
Lamar Odom has accumulated assets reportedly estimated to be worth about $100 million following his years as a star in the National Basketball Association. Meanwhile, Khloe Kardashian has net worth estimated at $18 million. She and her family have been featured on a hit realty TV show on the E! Entertainment network.
The two celebrities purchased their Tarzana mansion in Dec. 2009 for a reported $3.95 million. Their relationship was widely noted at the time; they had dated for about a month prior to announcing marriage plans. They purchased their home at the time of their high-profile wedding. It was put in both of their names, and the property was later transferred to a shared trust. Now, as part of the divorce proceedings, the home has been listed for sale at an asking price of $5.5 million.
The property is situated at the end of a cul-de-sac in a community that is both guarded and gated. The driveway leads to an expansive courtyard area surrounded by grassy areas and mature palms. The Mulholland Park home has nine bathrooms, seven bedrooms, a gourmet kitchen and a home theater. In the backyard there is a pool, spa area, covered cabanas, and an outdoor kitchen complete with dual refrigerators.
The division of assets in a divorce, high-profile or not, can often be accomplished in an amicable manner, sometimes in the context of mediation. In Texas, the determination of what constitutes marital assets and what might be considered separate, personal assets is governed by established state statutes.
Source: Forbes, “Khloe Kardashian and Lamar Odom list California mansion for $5.5 Million after divorce“, January 09, 2014