Duane Martin made his name after appearing on numerous television sitcoms before portraying Robert James on the UPN/CW sitcom All of Us and also starring on the FOX police-procedural series L.A.’s Finest as Detective Ben Baines. His fans want to know how much he earned in his life. So, in this post you will get all the information related to it.
How Much is Duane Martin’s Net Worth?
Duane Martin is an American film and television actor and real estate agent who has an estimated net worth of $500 thousand. He earned his net worth from his acting skills. Below you will get other updates related to his financial status.
When Did Duane File For Bankruptcy?
On April 4, 2016, it was revealed that Duane filed for Chapter 7 bankruptcy. The couple claimed in the paperwork that they owed $15 million but only had $313,000 in assets. Real estate valued at $65,000 and personal property valued at $248,000 make up their total assets.
While they brought in $7,655 each month, they spent $16,953. The paperwork indicated that they possessed a 2014 Range Rover, a 2016 Range Rover, a 1999 Kawasaki Drifter and a Jeep Wrangler.
With total liabilities of $15,145,387, some of their debtors include Broadway Federal Bank ($3 million due on a real estate loan), Will Smith ($1.5 million due on a personal loan) and the City of Los Angeles ($9.5 million due on a personal guaranty).
Back taxes totaled in the tens of thousands of dollars, too. Tisha and Duane had been married for 22 years until she filed for divorce in February 2018. Tisha claimed $1.5 million in assets but no reliable income in a court file from September 2018.
She said she spent $30,000 a month on bills and that Duane made over $62,000 a month. Tisha charged that during their marriage, Duane hid the money. Also, she said Duane had $750,000 worth of t-shirts (500 shirts at $1500 each).
Tisha and Duane’s divorce was finalized in December of 2020. No party would be entitled to alimony or child support under the terms of the settlement. Tisha was allowed to maintain a leased home and a leased 2020 BMW. Duane was given the go-ahead to keep his rented mansion, Bentley and two motorcycles.
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Tisha and Duane’s Initial Foray into California Real Estate
In 2004 Tisha and Duane paid $880,000 for a vacation home in Lake Arrowhead, California. This house was sold for $1.597 million in 2009. They paid $900,000 for a 9,000-square-foot house in Chatsworth, California in 2005. This house was their main home for thirteen years.
The couple put the house on the market for $2.695 million around the time they filed for divorce in 2018. At one point, Tisha tried to stop Duane from getting the money from the house sale.
She said in a filing that Duane shouldn’t have been able to gain from the sale of the house because he was so deeply in debt and basically forced the couple to sell their family home.
Duane owed Will Smith $1.5 million from a personal loan linked to this property, which was shown in a different court document. After purchasing the house for $900,000 in 2005, Duane pulled $1.9 million from a bank to either make repairs or build a new home.
Because he didn’t pay back the loan, Duane bought it off from the bank for $1.4 million in 2012 with money he got from Will Smith. After that, he changed the ownership of the house to an LLC and started renting it to his own company for $5,000 a month.
It was okay to sell the house in August 2019 and it did sell for $2.45 million in October 2019. Smith got $1.5 million from the sale, $122,000 was used to pay off home-related bills and $485,000 was given to the bankruptcy estate to pay off creditors.
The buyer had to sign a paper saying they didn’t know Duane and Tisha or Will and Jada Pinkett Smith directly. This was done to make sure the buyer wasn’t just a fake person to help Duane or Tisha.
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