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Basketball star transfers three homes in divorce

On Behalf of | Feb 1, 2012 | Divorce

Kobe and Vanessa Bryant have agreed to the property division in their divorce case, which this blog has previously reported on for Texas readers. The longtime professional basketball star has transferred ownership of three upscale homes — with a total estimated value of $18.8 million, according to reports — to his wife of 10 years.

The couple currently lives in one of the houses, with Vanessa Bryant’s mother occupying another. The third home is a nearby mansion under construction that the couple had planned to live in with their 8- and 5-year-old daughters.

The property transfer is just the beginning of the financial settlement between the Bryants. Kobe Bryant, 33, has amassed a fortune that experts have estimated at $150 million since he entered the National Basketball Association in 1996.

The couple never signed a prenuptial agreement before getting married, and the state that they live in is a “community property” state. This means that Vanessa Bryant could walk away with a total settlement package of $75 million. Because of community property laws, most assets acquired during a marriage that lasts a certain length of time will be divided equally if no prenuptial or other sort of agreement is made.

Texas readers should know that their state is also a community property state. This is something that all couples should consider, not just wealthy couples. Every couple, no matter how rich or poor, acquire assets that become important to them. And wanting a prenuptial agreement is not a sign of bad faith, but merely an indication that one is planning for any possibility in the future.

Source: KTLA, “Kobe Bryant Divorce: Vanessa Gets 3 Newport Mansions,” Jan. 20, 2012