Tina Knowles and Richard Lawson have reached an agreement in their divorce settlement.
Tina Knowles and Richard Lawson have agreed to divide their assets and part ways 'amicably'
Beyonce's 70-year-old mom filed for divorce last July, after eight years of marriage to the 'Black Terror' director, 77, with court documents citing “irreconcilable differences” as the reason for the split.
And just over a year later, the exes have agreed how they will divide their assets.
There will be no spousal support, however, Lawson will receive $300,000 from Tina as “a full and complete settlement of all interest that Respondent has acquired during marriage in the community property of the parties as well as his obligation on any and all community debts.”
PEOPLE reported that he will also acquire a 2021 Cadillac Escalade, and “funds acquired by Richard Lawson Studios Inc., his SAG pension plan, royalties, creative works made during their union, and personal belongings, including clothing and jewellery."
Tina, meanwhile, will keep their Los Angeles and Texas properties, plus a 2018 Tesla and a 2020 Bentley.
She will also be entitled to all earnings since their separation.
The pair agreed to a “non-disparagement agreement" and will part ways "amicably".
They also agreed to not "speak ill about their children, grandchildren, and their spouses.”
Tina and Richard tied the knot in April 2015.
The exes have no children together. As well as Beyoncé, 42, Tina has Solange, 38, with her first husband Mathew Knowles.
Tina's separation came weeks after she had more than $1 million worth of cash and jewellery stolen from her home.
The fashion designer was out of town when someone from her team stopped by her Los Angeles abode and discovered her entire safe and its contents had been stolen.
In April, a man was arrested for causing a disturbance and damaging her property, after he was caught standing at the front of her house throwing rocks at her mailbox.
While police, including a helicopter, headed for the scene, the man ran away but he was located by the chopper and, following a short foot pursuit, he was taken into custody.
The suspect was said to have been behaving erratically and was placed on a 5150 psychiatric hold.
Tina declined to press charges or even file a police report, despite the minor damage to her mailbox.
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