MBA05, W4, A2 Real Property and Land Use Consider the given scenario. Violet and Max Harris had been...

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MBA05, W4, A2 Real Property and Land Use Consider the given scenario. Violet and Max Harris had been living together in New Mexico since 1997. They purchased a condo together as joint tenants in April 1999. Max made the down payment from his savings. The mortgage payments were made from commingled funds before and after the marriage. Violet and Max married July 2001. In July 2007, they separated. In August 2002, Violet founded Bio-Tech Corporation, a biotechnology firm, with $30,000 that she received as an inheritance from her grandmother.
	
Document Preview: MBA05, W4, A2Real Property and Land UseConsider the given scenario.Violet and Max Harris had been living together in New Mexico since 1997. They purchased a condo together as joint tenants in April 1999. Max made the down payment from his savings. The mortgage payments were made from commingled funds before and after the marriage. Violet and Max married July 2001. In July 2007, they separated. In August 2002, Violet founded Bio-Tech Corporation, a biotechnology firm, with $30,000 that she received as an inheritance from her grandmother. She worked full time for Bio-Tech and owned all of the company's stock. Max continued with his job with another employer and was not involved in Bio-Tech's operations. Due to limited financial resources, Violet did not draw a salary from Bio-Tech until August 2007.In September 2007, Bio-Tech's first product was approved by the Food and Drug Administration. Shortly thereafter, Violet sold all of her Bio-Tech stock to a large pharmaceutical firm for $30 million. Two days later, Violet filed for dissolution of marriage.Discuss the legal ramifications of the division of condo, Bio-Tech and other assets. -Would it make any difference if Violet sold the property after filing for the dissolution of marriage?  Analyzed and described the legal ramifications of the division of condo, BioTech and other assets.Submit the answers in a 2- page Microsoft Word document. **APA formatting, Provide References with citations quoted work, Introduction & Conclusion, please**Cite any sources you use in the APA format.**Provide incredible outside research such as 2-SCHOLARLY sources to support your findings. **

Robert · Accepted Answer

Dissolution of Marriage
 
Dissolution of Marriage 
Legal Ramification of Division of Assets
abc 
8/27/2013
Abstract 
This paper deals with a case on dissolution of marriage. Violet and Max, who lived together 
before marrying, bought a Condo together. After their marriage, Violet founded a company 
Biotech and, was fully involved in it. A few years after their marriage, they filed for 
dissolution. 
This paper is an attempt to understand how dissolution of marriage works and, the division of 
assets after dissolution of marriage. This paper further tries to understand what a marital 
property is and, how the marital property needs to be divided such that the separation is 
granted.  It also tries to explain the legal consequences of division of property in case of 
dissolution of marriage.
Introduction 
Violet and Max Harris lived together before getting married in the year 2001. Before 
getting married, they both bought a Condo as joint tenants, wherein they used their savings to 
make the down payment and, the monthly instalments were made using joint funds before 
and after their marriage. So, the condo was a joint property for the both of them. Biotech was 
Violet’s brainchild that she founded using her inheritance money. It is to be noted that till the 
year 2007, the company was facing financial issues because of which Violet did not draw any 
salary from this company. In 2007, just after they filed for dissolution of marriage, Violet 
sold the shares of her company, Biotech that too after her first product was approved. 
Dissolution of Marriage 
A separation, that is done with mutual consent and,

MBA05, W4, A2 Real Property and Land Use Consider the given scenario. Violet and Max Harris had been living together in New Mexico since 1997. They purchased a condo together as joint tenants in April...

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