Tiger Woods big bucks divorce behind new mortgage.
Jupiter Island golfer Tiger Woods‘ secret divorce settlement may be so expensive that he had to mortgage his home to pay for it!Jacked from Page2Live
Official records that just popped up in Martin County hint that Woods will have to pay ex-wife Elin Nordegren $54 million by January 2016 — or risk losing the house he spent five years building.
How do I know?
Well, the philandering club-swinger took out a $54 million-mortgage Friday, almost two weeks after his quickie divorce was finalized in Panama City.
The mortgage holder, according to records, is a shadowy company with no apparent capital, JRD Florida Ventures LLC. And the corporation’s registered agent is none other than one of his former wife’s six divorce lawyers, Dennis Belcher.
Woods, the mortgage shows, used the Jupiter Island property, Sand Turtle, to secure the loan — which means that Nordegren could end up with that Motel 6-style crib if he doesn’t pay up. The document was actually notarized by Thomas Sasser, Woods’ West Palm Beach-based divorce attorney.
If he doesn't pay up, Woods stands to lose this home (Click on the photo for more)
The mortgage docs also show Woods and the ex had been working on a divorce for several month. The mortgage scheme was hatched July 3, and the corporation that holds the security was formed by Belcher in his hometown of Richmond,Va., two weeks later.
Taking out a mortgage is a rare thing for Woods, who paid cash for the $44.5 million worth of land he bought to build the house.
West Palm Beach divorce-law guru Odette Bendeck, who had nothing to do with Tiger’s divorce but handles plenty big-money splits, explained what’s behind it all.
“What I believe is happening,” Bendeck said, “is that the settlement calls for deferred payments to the ex-wife. I’m pretty sure there’s a promissory note behind the mortgage, and the mortgage is just to secure the note. They did it like this for privacy.
“I doubt, though, that Elin didn’t get some money immediately and has to wait for five years to get it all. I have a feeling this is just a piece of the entire package.”
Speculation has placed the value of the divorce, after six years of wedded bliss, between $100 million and $500 million. There is, however, no way to know for sure, Bendeck said.
“The prenup they signed could have set a percentage of Tiger’s earning during the marriage for the wife,” she said. “What looked reasonable then can seem insane at the time of the divorce.”
2 comments:
he PAID CASH for his crib? Ballin
No wonder why he ain't been "hitting" straight this year...SMDH! Well this is the price you pay when your a nucca messing with Becky get's your a** burned big time..Nobody learned from O.J. I guess?
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