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WARREN EDWARD TRAUB v. JANE ELIZABETH TRAUB JOHNSON

DECEMBER 14, 1988

WARREN EDWARD TRAUB
v.
JANE ELIZABETH TRAUB JOHNSON



BEFORE HAWKINS, P.J., SULLIVAN & ZUCCARO, JJ.

SULLIVAN, JUSTICE, FOR THE COURT:

Traub and Johnson were divorced in Hinds County on January 19, 1984, after sixteen years of marriage. During the marriage they received substantial financial assistance in the form of outright gifts and income from trust properties from Johnson's parents. On January 19, 1984, the parties received a divorce on the ground of irreconcilable differences.

The property settlement agreement divided the jointly held assets of the parties as follows:

 Traub received:

 (1) Primary family residence in Jackson, Mississippi $112,000

 (2) 1/2 the home furnishings 10,000

 (3) 15 acres in Grand County, Colorado 30,000

 (4) Stock portfolio 31,000

 (5) Savings Accounts in First Magnolia Federal Savings & Loan and Summitt County Bank 19,500

 (6) Loan to Micro Systems, Inc. 15,000

 Johnson received:

 (1) 1/2 the home furnishings 10,000

 (2) Checking accounts in First National Bank and Dean Witter, AAA 2,500

 This property settlement agreement was signed on November 16, 1983. On December 30, 1983, Traub and his attorney presented Johnson with documents for her signature conveying to Traub three additional properties: (1) an undivided one-third interest in the house and lot in Summitt County, Colorado; (2) one-half of her interest in Ridgway Management Contract 12; and (3) ...


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