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Question: Business Law Barry and Hilda have decided to end their marriage. They have separated and want to determine how to divide their property. Review
Question: Business Law Barry and Hilda have decided to end their marriage. They have separated and want to determine how to divide their property. Review the information below, which outlines their assets and debts. Determine how they will divide their property. Provide a calculation and an explanation to support your finding. This question is worth eight marks. Barry At the time of separation, Barry owned a house jointly with Hilda. The house is worth $500,000.00. The house is mortgage free. Barry does not have any debts. At the beginning of the marriage Barry owned a painting that he had inherited from his mother. The painting was worth $20,000.00. He had a student loan worth $20,000.00. He owned a car worth $5000.00. He had savings of $5000.00 Hilda At the time of separation, Hilda owned a house jointly with Barry. The house is is worth $500,000.00. She continues to own her business, but it is not doing well. It is now worth $350,000.00. She no longer owns the IBM shares. She sold them during the marriage, for $100,000.00. At the beginning of the marriage, Hilda owned a business worth $100,000.00. She had a bank loan worth $50,000.00 and she owned IBM shares worth $20,000.00.
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