Clarkson failed in her bid last month to have Blackstock evicted from the property that's worth a reported $17.75 million (via toofab)
Blackstock had argued that as the ranch was purchased during their marriage, it is a joint asset and thus should be split 50/50 as part of the divorce proceedings. He lost that argument in October, though, as a judge ruled that the property was subject to the established terms in their prenuptial agreement.
Now, according to these latest documents, the couple has come to an agreement that does afford Blackstone some ownership stake in the property, but not nearly the 50 percent that he was looking for. Instead, he's purportedly agreed to a 5.12 percent ownership interest, which amounts to $908,800 of the property's total value. As ET notes, there is an adjoining property as well, but the judge determined that Clarkson wholly owns that property.This latest settlement follows a judge having previously ruled that the property was entirely Clarkson's.
In rejecting Clarkson's bid to evict Blackstock, he'd been ordered to pay the estimated $81,000 per month that it costs to maintain the property. Clarkson has already unloaded a 20,000 square foot home in Nashville and a 10,000 square foot farmhouse in California. She attempted to sell the ranch in August, but was blocked from doing so through legal avenues. Now that there is an agreement with Blackstock as to ownership stakes on the property, it seems likely that selling it would be their next move.
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