Tiger takes out $54 million mortgage to help pay divorce settlement?
Sep 2, 2010, 11:00 AM EST
The Palm Beach Post uncovered documents that show Tiger Woods took out a $54 million mortgage on his new Jupiter Island (Fla.) home last Wednesday, and learned speculation is that the sum is going to help pay off his divorce settlement. From Jose Lambiet’s Page 2 Live column:
And the mortgage holder, according to the records, is a shadowy company with no apparent capital, JRD Florida Ventures LLC. The corporation’s registered agent is none other than one of his former wife’s six divorce lawyers, Dennis Belcher.
This leads experts to believe that the total divorce package is in excess of $54 mil … probably in the $100 million to $500 million range. Mama Mia.
Official records that just popped up in Martin County hint that Woods will have to pay ex-wife Elin Nordegren $54 million by January 2016 — or risk losing the house he spent five years building.
Woods, the mortgage shows, used the Jupiter Island property, Sand Turtle, to secure the loan — which means that Nordegren could end up with that Motel 6-style crib if he doesn’t pay up. The document was actually notarized by Tom Sasser, Woods’ West Palm Beach-based divorce attorney.
West Palm Beach divorce-law guru Odette Bendeck, who had nothing to do with Tiger’s divorce but handles plenty big-money splits, explained what’s behind it all.
“What I believe is happening,” Bendeck said, “is that the settlement calls for deferred payments to the ex-wife. I’m pretty sure there’s a promissory note behind the mortgage, and the mortgage is just to secure the note. They did it like this for privacy.”
Elin probably got some dough up front, Bendeck said, but she’ll have to wait five years to get it all.
“I have a feeling this (the $54 million) is just a piece of the entire package.”
Speculation has placed the value of the divorce, after six years of wedded bliss, between $100 million and $500 million. There is, however, no way to know for sure, Bendeck said.
“The prenup they signed could have set a percentage of Tiger’s earnings during the marriage as settlement,” she said. “What looked reasonable then can seem insane at the time of the divorce.”
Just goes to show how tenuous this being rich business is. Woods may be worth $900 million total, or whatever. But most of that’s represented by real estate and other holdings. Sobering to reflect on the fact that if his game really hits the skids, he might end up losing his main house to his ex.
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Tigers Woods signs $54 million mortgage to pay of the ex [Palm Beach Post]
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- Steeler Fan in Germantown - Sep 3, 2010 at 7:19 PM
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For he life of me I can’t understand how anyone, especially someone who is married, can defend this person. Sit back and imagine your spouse sacking up with 12 – 14 skanks or dirtbags and publicly humiliating you in front of all of your friends and family, let alone the entire world.
This pervert has been so damn self righteous all of these years, with his nose in the air looking down at his peers and the public in general. He’s getting everything he deserves and I hope this is just the beginning. I would love to never see him win another tournament, but I don’t think that’s going to happen. He’s extremely talented and, sooner or later, he’ll return to his old golfing form. In the meantime, I love watching him lose and being depressed.
His wife did nothing wrong. She idolized him; gave him beautiful children and was there for him at all times.
He deserves one of the skanks that he was whoring around with. SOmeone that will crawl in bed with someone else when he’s on the road, stroking their putters as it were.
He’s a punk; a phony and a prick. Go to hell Tiger.
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- jerryguy - Sep 3, 2010 at 7:26 PM
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why the hate for tiger; did he abuse children like the folks at the local catholic church;he made many mistakes but society incurred no real cost. if i remember correctly clinton and a few other presidents were/are unfaithful to their wives and none of them had to go through this. i wonder what the underlying issue is regarding this rage?
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- jerryguy - Sep 3, 2010 at 7:31 PM
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why the hate for tiger; did he abuse children like the folks at the local catholic church;he made many mistakes but society incurred no real cost. if i remember correctly clinton and a few other presidents were/are unfaithful to their wives and none of them had to go through this. i wonder what the underlying issue is regarding this rage?
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- reynaldo rae - Sep 3, 2010 at 7:56 PM
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Gays want to get married but a man has 15 mistresses and every one is tripping and think that is wrong. I never could understand the difference between gay marriage an a man having as many wives as he can want or afford if your talking about the santity of marriage. From what I can see folk are just jealous that they wish they could go and do what tiger did. Tiger is playing with the money those coporate sponsers got from being too big to fail. So the moral of the story. If your rich dont get married. wait till your old. then have all them young girls jump up and down at a chance to get your money and maybe your heart will give out before they get it and it goes to charity.
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- ARCADIAN - Sep 3, 2010 at 7:58 PM
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HAHAHAHAHHA ELDRICK CANT AFFORD DIDDLY!!!!! SQUAT!
Well i hope he learns his lesson.
And Eldrick
I do want Fries with that!
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- ARCADIAN - Sep 3, 2010 at 7:59 PM
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Dont try to change the subject
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- Mort Adella - Sep 4, 2010 at 9:19 AM
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It makes no sense to feel sorry for him. However, I shake my head thinking “What a foolish idiot he is”
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- hey_crackers - Sep 4, 2010 at 1:36 PM
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no doubt that many trailer trash realise that their pathetic lives will not get any better by putting down tiger – oh by the way, 14 majors , 72 pga victories, over 80 wins worldwide …and all this before the age of 35…..so , all you trailer trash people , do you think tiger’s crap is worth more than your pathetic lives ? Ha ha
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- snowman - Sep 4, 2010 at 1:39 PM
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who are we to judge. that goes to show Tiger is a human being who can make mistakes. Tiger will bounce from his failings in a big way. go Tiger.
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- gen - Sep 4, 2010 at 3:59 PM
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As the great Artie Lange would say, “Whaaaaaaaaaaaaa!”
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- uno4uno - Sep 4, 2010 at 8:51 PM
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You are just jealous, plain and simple, you s.#*$d arss. What ? You want Tiger to ask permission from you for anything? Who the heck are you to pass judgement on the man? I bet you don’t even measure to the smallest accomplishment the man has. He did wrong to his wife, he apologized and got divorced. He doesn’t need to explain anything to anybody and certainly not to the press whose only interest is to sell their story. Perfection – in the golf world, Tiger WAS the closest to the word. Now he knows he has a lot of work to do. You think he cares what you think Bozo?
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- MrPerfect - Sep 4, 2010 at 8:55 PM
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See me casting the first stone! What a bunch of hypocrites.
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- manny - Sep 7, 2010 at 8:19 AM
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I agree and Tiger Woods is just human not a perfect person just like others. I pray he win a major. Still his the best golfer in the world
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- anactualgolffan - Sep 8, 2010 at 12:21 PM
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You can totally see most of the people hating on Tiger are women here, or men that haven’t been following his career. Tiger Woods made so many people, companies, tv stations, so much friggen money its sick. He brought hope to African American golfers that before may have been frowned upon for even being on most golf courses. He gave hope to aspiring athletes. He showed the world what hard work and dedication will do. Do you know how many men cheat on their wives in this world? I work in the golf industry, went to college for it, and know what the sport is like today because of him. Hate him all you want, but he put food on more peoples dinner tables then you could ever fathom. He created jobs out of no where that would have never been there if it wasn’t for him. And he made the sport of golf much more public compared to the rich snobby sport it use to be. I don’t know him or his wife and I never will, but I’ve looked up to his dedication and hard work as an individual all through college and would like to say…. Thank you Tiger Woods. Bounce back sooner than later sir.
P.s. to all you reality tv watching, tabloid reading scum bags that cant seem to take their eyes off this garbage they see on tv and things that are none of your business. GET A JOB!! GET A LIFE!! You are the people making this world worse. You make me sick!!.
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- LARRY OLIVER - Sep 16, 2010 at 8:54 PM
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Hey, since whatever agreement between them DOES NOT seem to favor him, just perhaps, he was a stand-up guy with good intentions when they met. All the female haters who haven’t caught their husbands cheating…would better off spending some quality time with their husbands than garbage up this blog. It is what it is and so lets just watch it play out. Larry O
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- steve - Sep 22, 2010 at 5:16 PM
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Go pimp daddy tiger
