Wendy Williams' divorce is finalized

Legal documents obtained by Page Six confirm courts in New Jersey agreed to sign off on the divorce settlement, meaning both Wendy and Kevin - who married in 1997 - are legally single.

And according to the documents, part of their settlement will see Wendy pay Kevin a lump sum to buy his shares in her Wendy Williams Productions company, which will mean he no longer has any stake in the business or the content it creates - primarily her eponymously titled talk show.

The amount paid to Kevin has not been disclosed, but it will be considered an equalisation payment and will stand in the place of alimony, which neither of the pair will be paying.

Wendy and Kevin agreed to split the money they earn from the sale of their former family home in Livingston, New Jersey - which is currently on the market for $1.7 million - however Wendy will keep all of the furniture, except one sculpture that belongs to Kevin.

The media personality will keep their other home in Florida, which her mother currently lives in, whilst Kevin will get another property which recently sold in Morristown, New Jersey.

In the settlement, Wendy also consented to taking out a $1 million life insurance policy on herself, that would go to Kevin the case of her death.

The documents also state Kevin will keep his Ferrari and his Rolls Royce, as well as maintaining ownership of all his other businesses outside of the television show.

Both Wendy and Kevin have agreed to pay their own legal fees for the case.