Do you have a no-fault divorce state marriage and are an NFT collector? If so, the division of marital property into equal portions may include your priceless collection. In reality, many NFT holders have already had their spouses steal 50% of their digital assets.
‘No-Fault’ Divorce State, What Will Happen To Your NFTs?
Recently, and for good reason, an increasing number of NFT collectors have been tweeting about their divorces. Therefore, a person in a marriage that allows for “no-fault” would have to share their NFT portfolio with their soon-to-be ex-spouses.
One of the 17 no-fault divorce jurisdictions in the US is Wisconsin, where the Bored Ape collector @StonedBrody resides. A “temporary order hearing” this week demanded that Brody move a portion of his NFTs to his wife’s pocketbook.
In other words, he could lose half of his NFT holdings, which include valuable antiques.
Value determination will be a problem when the time comes, however it has thus far allowed for delays on my end. Any conflict between my wife and I will lead to our being liquidated by the court, Brody said in a tweet.
Surprisingly, MAYC holder @hodlland experienced the same thing. In response to Brody’s reply, the collector informed him that following his divorce, he had to give up 50% of his NFTs.
How Can NFT Holders Keep Their Assets?
The only method to protect NFTs, according to @hodlland, is to “get a prenup.” If there is no blame in the divorce, any NFT wallet made during the marriage may be divided.
More often than ever before, the phrase “NFT” is heard in courtrooms nowadays. As of this summer, the New York Court is now serving court notices as NFTs; our post has all the information.