It is not often that we get to see inside the details of a
high net worth divorce, let alone a divorce that results in one spouse paying
the other $1 Billion. This week, the New York Times (and other papers) got a
hold of the Findings of Fact and Conclusions of Law from the Oklahoma County
District Court in the case of Sue Ann Hamm and Harold Hamm.
The document is astounding in the amount of detail required
to recount the assets of the parties and the evidence submitted in what was an
enormous trial conducted outside of the usual scrutiny of a high profile
divorce.
The focus of the findings is on the standards in Oklahoma
relative to marital and separate property.
In Oklahoma, property acquired during a marriage is presumed to be
marital, including when separate property is placed into the joint ownership of
the properties or is commingled with marital property. Even the increase in value of separate
property during a marriage may be considered marital depending upon the cause
of the increase in value.
Although not a state where I am licensed, Oklahoma’s laws
and decisions seem to be consistent with the states where I practice. It is a
long read, but for those who like to
study these kinds of decisions, the Court has given us plenty to ponder.
A full copy of the Findings of Fact and Conclusions of Law
can be found here.
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