Aanchal Varshney
Country music star Billy Ray Cyrus has finalized his bitter divorce from ex-wife Firerose. The settlement, exclusively revealed by In Touch, outlines the division of their assets, including cars, horses, and music catalog rights. This divorce, fraught with accusations and emotional turmoil, has finally reached a resolution, offering insights into the personal and financial implications for both parties.
Division of Assets
Car Collection and Livestock:
Billy Ray Cyrus walks away with the majority of his car collection and livestock. The settlement document specifies that he will retain:
– 2010 Nissan Titan
– 1993 Harley Davidson
– 1993 GMC Truck
– 2008 Freightliner Sprinter Van
– 2024 Nissan Murano
These vehicles reflect a significant portion of his prized possessions, showcasing his diverse taste in automobiles.
Firerose, on the other hand, will keep her 2020 Mercedes Benz. While her car collection may not be as extensive, it still represents a valuable asset.
Moreover, Billy Ray retains all horses and livestock located at his residence. This decision highlights his attachment to these animals, likely a significant aspect of his lifestyle and personal interests.
Personal Belongings
Each party is awarded all furniture, artwork, and personal items currently in their possession. This clause ensures that both individuals can maintain their personal spaces with items of sentimental and practical value. Specifically, this includes:
– Clothing
– Hats
– Accessories
– Guitars
– Musical equipment
– Jewelry
– Inherited or premarital assets
By retaining these items, both Billy Ray and Firerose can preserve a sense of normalcy and continuity in their lives.
Music Catalog and Financial Interests
Royalties and Music Rights
One of the most contentious aspects of the settlement was the division of music rights. The agreement grants Billy Ray “any and all right, title, and interest” in the royalties owed for his musical compositions. This decision underscores the importance of his musical legacy and financial stability moving forward.
However, Firerose is awarded full ownership, master rights, and copyright interests for certain songs written or published during their marriage. This provision ensures that she retains a valuable source of income and creative control over specific works. The settlement details that she will have one hundred percent ownership of these compositions, reflecting a fair compromise given their joint contributions to the music.
Production and Publishing Companies
Billy Ray also retains all interests in his various production and publishing companies. This retention allows him to continue his business ventures without disruption, ensuring that his professional endeavors remain under his control.
Both parties will keep their own stocks and bonds, reflecting a clear division of financial assets and maintaining their individual investment portfolios.
Financial Responsibilities
In a notable decision, no alimony or spousal support will be paid by either party. This agreement indicates a clean financial break, allowing both Billy Ray and Firerose to move forward independently.
Additionally, each party is responsible for their own debts. This provision ensures that neither individual is burdened by the other’s financial obligations, promoting financial independence and responsibility.
Statements from the Parties
Billy Ray expressed his relief at the settlement, describing the divorce as a “nightmare.” He accused Firerose of deceitful motives, suggesting that her primary intention for the marriage was to gain his last name. His statement underscores his frustration and sense of betrayal, reflecting the emotional toll of the divorce.
Firerose’s camp, however, offers a different perspective. They claim that she aimed to end the “smear campaign” and emotional turmoil, emphasizing her desire to move on peacefully. A source close to Firerose stated that if the case had gone to trial, she would have provided substantial evidence to counter Billy Ray’s narrative. Her decision to settle reflects a desire for closure and emotional recovery rather than prolonged litigation.
Background and Legal Proceedings
Billy Ray filed for divorce on May 23, accusing Firerose of failing to disclose a previous marriage and physical abuse. Firerose denied these claims, countering with accusations of domestic violence. His lawyers dismissed her allegations, intensifying the conflict between the parties.
Despite the heated accusations, the settlement reached in mediation allows both individuals to avoid a protracted court battle. The case is now officially over, providing a legal resolution to a highly publicized and contentious divorce.
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