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    Home » News » If You’re Married In A No-Fault Divorce State, Your NFTs Might Be At Stake

    If You’re Married In A No-Fault Divorce State, Your NFTs Might Be At Stake

    By AdeleSeptember 22, 2022Updated:September 23, 20222 Mins Read

    Are you an NFT collector who married in a ‘no-fault’ divorce state? If so, your precious collection might be included in the 50/50 marital property process. In fact, many NFT holders already had 50% of their digital assets taken away by their spouses.

    image of a worried brunette woman with a man in the background
    Collectors married in one of the 17 no-fault divorce US states might lose half of their NFT portfolios. Credit: FreePik

    What happens to your NFTs if you’re married in a ‘no-fault’ divorce state?

    Recently, more and more NFT collectors have been sharing their divorce stories on Twitter – and for good reason. Accordingly, those who married in a ‘no-fault’ divorce US state must share their NFT portfolio with their soon-to-be ex-spouses too.

    For example, Bored Ape collector @StonedBrody lives in Wisconsin – one of the 17 no-fault divorce states in the US. This week, a ‘temporary order hearing’ called on Brody to transfer part of his NFTs to a wallet managed by his wife.

    In other words, he might lose half of his NFT portfolio, including blue-chip collectibles.

    “Value determination when time comes is going to be a nightmare, but has also allowed for delays on my end to this point. Any disagreement by my wife and I will result in court ordered liquidation,” Brody wrote in a tweet.

    Surprisingly, the same happened to MAYC holder @hodlland. The collector replied to Brody’s message saying he had to surrender 50% of his NFTs after his divorce.

    Twitter screenshot of a message regarding NFT division no-fault divorce states
    BAYC collector Brody shared his NFT-related divorce issue via social media. Credit: Twitter

    How can NFT holders keep their assets?

    According to @hodlland, the only way to keep NFTs safe is to “get a prenup”. Otherwise, any NFT wallet created during the marriage can be subject to division in a no-fault divorce state.

    Today, courts are hearing the term ‘NFT’ more than ever before. The New York Court is even serving court notices as NFTs as of this summer – and our post covers all of the details!

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

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    Adele

    Adele Ioana is a writer with a deep interest in digital visual arts. Between covering two news stories, she enjoys drawing portraits and studying photo manipulation.

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