I think that's a common misunderstanding about who owns what in a marriage. I'll quote Matt Levine on this:
One thing that I find a little weird about the Bezos divorce is that there are a lot of claims that it will make MacKenzie Bezos “the world’s richest woman.” I suppose there is a technical sense in which that is right, but it assumes not only that she will have a right to half of Jeff Bezos’s assets in divorce, but also that she has no such right in marriage. That strikes me as a strange way to think about marriage, and about the “community property” laws that might give her half the assets in divorce. (Surely those laws imply that she is in a sense a joint owner now?) I would have thought the more straightforward analysis is that she is the world’s richest woman now, because she is a member of a married couple that has more money than any other single person or married couple on the planet, but I guess that is not how the scorekeeping works.
This concept of marital property is speculative, if not fictional, unless both Jeff and Mackenzie made explicit agreements to co-own the shares during their marriage. Prior to their divorce, if Jeff wanted to dump all his Amazon stock, I doubt he needed MacKenzie's permission to do it. If he were deposed by the SEC over alleged claims of market manipulation with Amazon stock, Mackenzie would not be the one held liable. While she may have been able to influence his purchases/selloffs as one half of the world's now-formerly richest couple, she never had ownership of the stock as a legally-recognized property right in itself (and the liabilities the may come with such ownership). She now has such a right (although I would argue that she shouldn't) as a divorcée.
> I would argue this concept of marital property is a fiction
Property is a social construct; marital property no more or less than any other, and likewise no more or less a fiction.
> . Prior to their divorce, if Jeff wanted to dump all his Amazon stock, I doubt he needed MacKenzie's permission to do it.
Yes, marriage is exactly like a general partnership in that, absent explicit agreement or special legal treatment of particular property, any partner can dispose of property of the partnership.
Also, like a general partnership in that the property legally ascribed to the partnership rather than partners individually is divided among the partners as personal property at dissolution.
> Yes, marriage is exactly like a general partnership in that, absent explicit agreement or special legal treatment of particular property, any partner can dispose of property of the partnership.
So pre-divorce MacKenzie could have unilaterally decided to dump Jeff's Amazon shares on the market without his permission?
She could have burnt down Bezos's Medina home to bits and he couldn't sue for damages, even if he payed for the construction, property taxes, other bills, and was sole owner of the deed?
She could have access to any separate bank accounts he owned, and blown it all?
> Also, like a general partnership in that the property legally ascribed to the partnership rather than partners individually is divided among the partners as personal property at dissolution.
A partnership in and of itself doesn't create any obligations other than the acknowledgement of said partnership. There isn't a presumption of combined ownership. A partnership is the explicit creation of a contract that both parties agree to. If a contract is voided, one is no longer required to perform any duties or continue providing resources.
In a marriage, the terms are set by the state and there is a presumption of combined ownership. Even if a prenup to the effect of "I keep what I earned, you keep what you earned" exists, a judge can ignore it.
> A partnership is the explicit creation of a contract that both parties agree to.
So is a marriage. In both cases, there are default consequences in law that apply in the absence of contrary explicit agreement, particularly (relevant to thr current issue) as regards property attributable to the relationship, including which property that is.
> If a contract is voided
That’s not relevant, here. Voiding a contract is cancellation, due to a legal defect that makes it categorically invalid (if completely prohibited) or voidable at the discretion of a party (such as when one party was a child when making it); the marital case of voiding a contract is annulment, not divorce.
Divorce is termination of a contract, not voiding.
> In both cases, there are default consequences in law that apply in the absence of contrary explicit agreement, particularly (relevant to thr current issue) as regards property attributable to the relationship, including which property that is.
I'm aware of that and seeing as the Bezos's marriage did not have a pre-nup, Jeff was relatively fortunate. But my concern is with how marriages are treated as legal institutions apart from how commercial contracts are upheld.
In a partnership, two private parties can create a contract by themselves. The state is not involved in the creation of a contract. The state will only involve itself with the contract's enforcement or the resolution of any suits arising from its dissolution. The state works within the body of laws it's upheld, but almost all rights stated in the contract supersede the default assumptions held by the state.
When it comes to marriage, the state (via the court) is deemed its creator, enforcer, and dissolver. A divorce can only be granted under the acceptance of the state's terms. A judge can decide to ignore precedent or the upholding of a pre-nup.
One thing that I find a little weird about the Bezos divorce is that there are a lot of claims that it will make MacKenzie Bezos “the world’s richest woman.” I suppose there is a technical sense in which that is right, but it assumes not only that she will have a right to half of Jeff Bezos’s assets in divorce, but also that she has no such right in marriage. That strikes me as a strange way to think about marriage, and about the “community property” laws that might give her half the assets in divorce. (Surely those laws imply that she is in a sense a joint owner now?) I would have thought the more straightforward analysis is that she is the world’s richest woman now, because she is a member of a married couple that has more money than any other single person or married couple on the planet, but I guess that is not how the scorekeeping works.
https://www.bloomberg.com/opinion/articles/2019-01-10/bezos-...