Russell Simmons and Kimora Lee Dispose of Personal Property After Divorce

Mogul Russell Simmons and his ex-wife, Kimora Lee, finalized their divorce back in 2006. However, it was just last month that their New Jersey mansion sold for $13.9 million. This past weekend, they held a fabulous yard sale to sell the items contained within the residence. Everything from a $200,000 bed once owned by Gianni Versace to a $20,000 pair of bronze lions is up for grabs, according to a local North Jersey news site. However, shoppers who cannot afford those lavish price tags do not have to leave empty-handed: Items such as $20.00 doggie beds and $3.00 coffee mugs are also on sale.

It is not uncommon for divorced couples to dispose of their personal property after a divorce judgment is finalized. In fact, many times, judgments can set forth provisions for the disposition of personal property at a future date. Usually, couples cannot decide who will get what item and often times a Special Master will need to be appointed to help resolve property division. Another resolution would be to set up a yard sale just like the Simmons’ and split the proceeds.

For more information on obtaining an Orange County divorce, contact a reputable Costa Mesa divorce attorney.

Source: Russell Simmons and Kimora Lee’s Lavish Yard Sale