Real Housewives of Beverly Hills Star Yolanda Hadid's Over The Top Divorce Settlement!
April 30 2012, Published 3:00 p.m. ET
RadarOnline.com Assistant Managing Editor
The brand new star of The Real Housewives of Beverly Hills and the fourth wife to music mogul David Foster, Yolanda Hadid, got an over the top divorce settlement from her former husband, Mohamed Hadid, RadarOnline.com is exclusively reporting.
Married to Mohamed for eight years, the stunning Dutch model recently joined the cast of the Bravo hit show and will appear in its third season. Coincidentally, Mohamed appeared on the show because he is very good friends with fellow housewife Lisa Vanderpump.
Mohamed threw an engagement party for Lisa's daughter Pandora that was featured on the show last season.
Yolanda filed for divorce from Mohamed in Santa Barbara County in 2003 and under terms of the divorce settlement agreement obtained exclusively by RadarOnline.com, she retained ownership of the Santa Barbara mansion, a $6 million dollar Malibu property, an Arabian horse, sole ownership of Hadid Interiors, several bank accounts, a Range Rover and an Escalade.
Yolanda also received a one-time cash payment of $3.6 million dollars and receives $30,000 a month in child support for the three children they had together: Jelena, Isabella and Anwar.
She was receiving an additional $10,000 a month in spousal support, but that ended when she married David Foster.
Mohamed kept the Bel Air mansion that has been featured on the reality show, the vacation home in Mexico, two Bentley's, a Range Rover and an Escalade, although Yolanda can use the vacation house whenever she wants.
DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.
According to the documents, Mohamed became responsible for "liabilities the notes payable to First Credit Bank, the approximate amount of $60,000,000 secured by Deeds Trust encumbering the real property located in the greater Los Angeles, CA. $17,000,000 for Casa Amore with First Credit Bank, $3,000,000 First Credit Bank, $22,000 Chase Visa."
The former couple have joint custody of their three children and agreed to "relocate the residences of the minor children more than 100 miles from the other parent, without prior written notice to the other notice." Mohamed pays for private schools for the kids and pays for a full-time nanny to live with Yolanda and the kids.
Mohamed agreed to have a $1 million dollar life insurance policy and that the beneficiaries are Yolanda and the children.
Interestingly, Yolanda and Mohamed did have a pre-nup that was declared null and void when the divorce settlement was executed, and signed by both parties in 2007.
Yolanda married David last year, and Mohamed remains single.
RELATED STORIES:
Camille Grammer Isn't Returning To Real Housewives Of Beverly Hills