Would Buck Strickland's scheme work?
In the episode Hanky Panky, Buck Strickand, anticipating his upcoming divorce, devises a way to avoid turning over half of ownership of a restaurant he owns by selling it to Hank Hill for petty cash with the expectation that after said divorce is finalized Hank will sell it back to him-"Ms Liz can't have half of what I 'don't' own".
Could Buck actually pull this off under Texas divorce law?
Best Answer
Frankly this is better suited to Law.SE - but at the very least this is hiding assets (and probably fraud) so it would be either disallowed or at worst illegal.
Penalties for Concealing Assets
A spouse that hides assets could face a range of consequences. A divorce judge confronted with a spouse that has concealed assets could order the innocent spouse receive a greater share of the community assets than he or she would otherwise have received, even splitting assets 70/30, in favor of the innocent spouse, in some instances. Further, depending on the financial actions taken, the spouse caught hiding assets could face charges from the IRS.
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