Reasons for Possession and use: Business Interests

You will need to explain to the court why the possession and use of this business interest in the way you have indicated is fair and equitable. For example, if both Petitioner and Respondent agree that Respondent should have sole possession and use of the business interest, the reason can be something like: Petitioner and Respondent agree that Respondent shall have sole possession and use of this business.

If Petitioner and Respondent do not agree, then you should carefully detail why possession and use of this business as you have indicated is fair and equitable. The following are some examples:

If Petitioner is to have possession and use of this business:

• Petitioner is the sole owner of this business.
• This business belongs to Petitioner and is not marital property.
• Petitioner owned this business prior to the marriage.
• This property or the money to purchase this business was inherited by Petitioner and is not marital property.
• This property or the money to purchase this business was a gift to Petitioner alone and is not marital property.
• Petitioner purchased this business with Petitioner's own money.
• Petitioner is the only one involved in this business.
• Respondent is employed and Petitioner is not. Petitioner needs this business for Petitioner's daily living.
• Respondent has another business and is not involved in this one.
• Petitioner and Respondent have not used any money earned or acquired during their marriage for this business.

If Respondent is to have possession and use of this business:

• Respondent is the sole owner of this business.
• This business belongs to Respondent and is not marital property.
• Respondent owned this business prior to the marriage.
• This property or the money to purchase this business was inherited by Respondent and is not marital property.
• This property or the money to purchase this business was a gift to Respondent alone and is not marital property.
• Respondent purchased this business with Respondent's own money.
• Respondent is the only one involved in this business.
• Petitioner is employed and Respondent is not. Respondent needs this business for Respondent's daily living.
• Petitioner has another business and is not involved in this one.
• Petitioner and Respondent have not used any money earned or acquired during their marriage for this property.