When it comes to divorce, if it’s not custody, it’s assets. That’s where things have settled in the latest chapter of the saga between Duane Martin and Tisha Campbell Martin. While the two were able to come to an agreement about their sons, there is more contention with the sale of their family home.
And interestingly enough, it involves the Smith family, who have been close to both Duane and Tisha for decades now.
According to The Blast, Tisha Campbell doesn’t want Will Smith to see any money when the estranged couple sell their former family home.
You might wonder why Smith stands to make money for a home that’s not his. Well, according to court documents, Will loaned Duane $1.5 million to save the house when the Martins were facing bankruptcy.
As a part of their settlement, Duane agreed to sell the home. A trustee found a buyer willing to pay $2.45 million for the 5-bedroom, 6-bathroom, 9,200 sq. ft. mansion in Chatsworth, California.
With the sale of the house, $1.5 million will go toward paying Smith back, through his company TB Properties. $122K will cover unpaid rent, $485k will be used to pay off creditors and $170,560 will go to a company named Roxe LLC.
The only problem is Tisha Campbell doesn’t agree with the settlement terms. In documents, she states that the settlement is a “dishonest debtor’s dream. Duane Martin defrauded the estate and it’s creditors in a complex scheme to hide his multi-million dollar family home, and now stands to walk away not only with his discharge intact, but with a share of the proceeds from the Trustee’s proposed sale of the home.”
Campbell doesn’t have an issue selling the family home but she doesn’t believe Martin should profit from the sale. And she believes this deal would allow him to do just that.
She wasn’t consulted about the settlement terms and believes they stand to “circumvent her legal rights in several ways.”
The settlement is in response to Martin being accused of fraud for hiding his home as a part of his assets in the bankruptcy. Martin was accused of hiding $2.6 million in assets through a company called Roxe LLC—the same one listed in the settlement terms.
Martin bought the home in 2006 for $900,000 and then borrowed $1.9 million to remodel it.
He defaulted on the loan and borrowed money from Smith to save it. Roxe LLC became the owner of the home and Duane and Tisha entered into a deal with their own company to pay rent, which was $5,000 a month.
Last year, Martin tried to sell the home for $2.6 million.
The trustee determined that the lease through Roxe was a sham and Duane and Tisha did not make all of their payments. So the home had to be turned over in the bankruptcy.
Smith had to surrender financial records and personal emails regarding his decision to loan Martin money, but ultimately the court determined that he had done nothing wrong. A judge has yet to rule on Campbell-Martin’s request that the settlement be dismissed.
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