The divorce case that was ongoing between rapper/producer Dr. Dre and Nicole Young is finally over, and the two have come to an agreement that sees their property feuding finally being resolved.
According to the story, initially captured by TMZ, Dr. Dre has expressed “delight” over the situation which finds Young only getting a fraction of the estate they both owned while being married; however, things are all finalized as both parties have signed off on the agreement for the property settlement.
In payment, Dr. Dre has promised a payment of 100 million dollars to his ex-wife which will see her getting $50 million now and $50 million in a year. One of the main reasons for this type of settlement was due to a prenup; however, there have been talks that Young could have gotten a bigger share if the settlement had been decided upon at an earlier date.
In terms of property splits, Dre has been granted permission to keep 7 of the lots that they previously owned together which includes 4 LA properties, a 100 million dollar Brentwood Estate, a Malibu home, and 2 homes in Calabasas.
The famous producer is also safe where his career legacy is concerned as he gets to maintain full rights over his master recordings, interest in partnerships and trusts the once couple entered in, trademarks, Apple stocks as well as the stream of income being generated from Beats by Dre sales.
Where the vehicles are concerned Young will have managed to secure 4 of them while Dre keeps 6.
This does not mean that Nicole Young is walking away nearly empty-handed though as she gets to keep the bank accounts she managed, as well as Jewellery and cash she had access to while the marriage was in effect. She will also be able to get her things that have been put away in a storage locker by Dre.
The settlement disallows the producer’s ex-wife to gain any spousal benefits, and will also be required to take care of all her lawyer fees which are said to have soared over into millions of bucks.
All in all, the situation has been clarified big time, and Laura Wasser, the attorney for Dr. Dre who has a net worth of $820 million, says the divorce is now official.