- 25 -
Around 1992, after the Gordons had separated, Chemical Bank
seized a bank account and sealed a safe deposit box, both of
which were held in the joint names of Mr. Gordon and Ms. Gordon,
and refused to release them until satisfaction of a judgment that
it had against Mr. Gordon with respect to the unpaid portion of a
$25,000 business loan that he had obtained. In order to obtain
the release of those assets, Ms. Gordon made a payment to Chemi-
cal Bank around 1992 in satisfaction of that outstanding judg-
ment.
In September 1992, the Gordons entered into a separation
agreement (separation agreement) that provided, inter alia:
3. Distribution of Certain Property. The condo-
minium apartment which was the marital residence of the
parties was transferred to the sole ownership of
Beverly Gordon on July 2, 1992. In settlement of their
mutual claims to marital and separate property, the
parties agree that all right, title and interest there-
on and any and all equity therein shall belong to
Beverly and any and all responsibility for the mortgage
thereon shall belong to Beverly.
4. Distribution of Certain Personal Property.
A. * * * The parties agree that [certain] * * *
articles of personal property currently in the posses-
sion of each of them * * * shall * * * be owned exclu-
sively by the party presently in possession * * *
B. Each of the parties has an interest in certain
retirement and/or deferred benefit plans. Each of the
parties hereby waives any right or interest in such
plans or with respect to the receipt of benefits in
such plans owned by the other party and confirms that
such plans and the benefits therefrom shall be the sole
and exclusive property of the current title owner
thereof. * * *
Page: Previous 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 NextLast modified: May 25, 2011