Marriage of Posey CA5

FACTS

Parties In May 2005, Erin E. Posey (Erin) and Jerrold C. Posey (Chris) were married. Chris is pilot with a degree in aviation management. Before the marriage, Chris started Bakersfield Air Charter and operated it for 22 years. The Business In January 2006, Erin and Chris started a new business, filing articles of organization for Epic Jet Center, LLC (Epic LLC) with the California Secretary of State and signing an operating agreement for Epic LLC as its members. They each owned a one-half interest in Epic LLC. Chris’s declaration stated that he invested over $1.6 million from the sale of Bakersfield Air Charter into Epic LLC. Epic LLC was formed to do business as a fixed-base operator with its principal office on Skyway Drive in Bakersfield. Epic LLC held leases to land and facilities at Meadows Field Airport,1 where it operated a private terminal that provided fuel and accommodations to tenants with their own aircraft. The leases covered airport property known as Lease Site 8 and Fuel Farm Site #3 and also included a parking lot. The parking lot agreement was designated by County as agreement number 998-2008. Lease Site 8 is divided into Sublease 8A, which includes the…