(EXCLUSIVE) Toya Wright & Memphitz Reach Divorce Settlement: Toya Will Pay Up, Keep Proceeds From Business

Memphitz, Toya Wright

Memphitz, Toya Wright

theJasmineBRAND.com exclusively reports, Toya Wright and soon-to-be ex-husband Mickey “Memphitz” Wright have reached a settlement in their divorce, in which they solved all their issues over their assets and property. The reality star is demanding the judge grant the divorce quickly, which would officially end the their 5-year marriage.

Here’s the latest: This month, docs were filed in the case explaining Mickey and Toya have reached a settlement in the divorce. The agreement – signed by both parties – states neither husband or wife shall seek or receive alimony from the other now or in the future. Further, neither owns any real property to be divided.

Each will retain their own retirement investments and accounts. They both say all joint bank accounts have already been closed and they share no debt together. Each will be responsible for their own debt.

Memphitz, Toya Wright

Memphitz, Toya Wright

In regards to their automobiles and furniture and other personal property, each will keep the property in their possessions and Toya is waiving all rights to furniture and belongings in Mickey’s home currently.

Toya agreed to pay $8k to her soon-to-be ex-husband and Mickey will waive all rights to proceeds earned by her from the sale of her book, “How to Lose a Husband” and proceeds from Before Bed Headz, a company she owns.

Per their agreement, Toya explains all issues over their property and assets have been settled and she is asking the divorce quickly be granted by the judge.

Toya has been outspoken about her rocky relationship with Mickey. The soon-to-be former couple announced they were splitting back in 2015, but decided to give their marriage numerous attempts to fix it. The reality star released her book entitled, “How to Lose a Husband” earlier this year.

Toya was previously married to Lil Wayne for two years before divorcing in 2006. The friendly exes share a daughter named Reginae Carter.

Toya Wright, Memphitz

Toya Wright, Memphitz

Here’s the backstory: The pair officially filed for divorce on July 8th. They were married on June 18th, 2011 – which was even filmed for a BET special.

Toya lists the reason for the divorce is due to the marriage being irretrievably broken and there is no hope of reconciliation.

The two signed a prenuptial agreement that covers the equitable division of their property and assets. The reality star is seeking to be awarded her personal property, with Mickey receiving his personal property as well.

She added that the law states Mickey cannot transfer or sell any of his property during a divorce. Toya insists that he comply with this, something she apparently fears he will do.

Toya is seeking to have the court officially grant her a divorce and for Mickey to pay her attorney fees. Attached to the divorce is the prenuptial agreement the two signed prior to getting married.

Per the deal, neither party can seek alimony if they were to divorce. They both keep all personal items they had prior to getting hitched. The agreement reveals both parties financial situation at the time, with Toya having over $700k in cash, $109k in real estate, $125k worth of cars along with $15k in other personal property.

toya-wright-memphitz-tyson-beckford-rolling-out-the-jasmine-brand (1)

She also had her clothing company worth $60k and a beauty business worth $110k. Toya’s debts included $90k in mortgage payments, $60k in auto loans and $80k in unpaid taxes and interest. Her assets totaled nearly $1.1 million and her liabilities were only $230k leaving her with a net worth of $864k.

Mickey’s assets included $48k in cash, $140k worth of cars, $98k in securities, $9k in a IRA and $500k a year for work. His liabilities included $550k on his mortgage, $377k in unpaid taxes and $15k owed to Visa. His total amount of assets totaled $1.3 million with liabilities totaling $377k for a net worth of $981k.

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Authored by: TJB Writer