Percentage Entitlements

You ask questions that can't be answered with a simple yes or no. Please see an attorney. There is a lot going on here.

You will need to have an attorney review this situation in detail in order to get any meaningful answers because there is a lot involved here and I can't tell from your question what type of business structure you have. I also can't tell what if any part of this might be separate property and what would be martial property. I would not make any moves without first having this looked at by a good attorney so they can tell you exactly what you are dealing with. With that said, I would have to believe that him surrendering his interest in the company right before a divorce was filed would not prevent whatever part of this that is marital property from still being marital property. I believe this would be treated the same as the classic example of the guy that sells all his property to his buddy right before he files divorce. Whatever part is marital property would still be marital property and subject to equitable division. There could be a lot at play here, it will be well worth your time to get it checked out before you do anything.

If the company is marital property then they are dividing, potentially, 49% of the company. You need to consult with Counsel. They also should consult with Counsel. This is a complex situation. Don't just "guess". Good Luck.