QuickHelper

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Category > Law Posted 23 Sep 2017 My Price 10.00

Scenario 3 - Property Kenny and Sherry lived together in New Mexico since 2008

Scenario 3 - Property

Kenny and Sherry lived together in New Mexico since 2008, but they were not married until May 2010. The couple purchased a home together as joint tenants in 2008. Sherry provided the down payment from her savings. The mortgage payments were made from comingled funds before and after the marriage. The couple separated in January 2014.

In July 2010, Sherry founded Snowy Camel Apparel with $25,000 she received as an inheritance from her great uncle. Sherry had an idea for designing a special coating to be applied to wearing apparel that would make it suitable for use in extreme heat and cold. Sherry worked full time for Snowy and owned all of the company's stock. Kenny continued with his job at the university and was not involved in Snowy's operations. Due to limited financial resources, Sherry did not draw a salary from Snowy until March 2013.

Discuss the legal ramifications of the division of home, the business, and other assets.

Answers

QuickHelper
(10)
Status NEW Posted 23 Sep 2017 05:09 PM My Price 10.00

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