Was it largely Barbara's project? That makes the change of ownership a lot more accurate, since she's not owning any of it now. I got the impression David considered it mostly his, but that disagreement might well be the reason for the messy divorce.
I clearly don't know enough about the background to make any call on who's right and who's wrong here.
David started the site based on his postings to alt.folklore.urban, but as I recall most of the Snopes articles on the site back in the day had Barbara's signature on them. So even if David thought of it as his and ran the operations, Barbara provided most if the content and set the tone.
They divorced because David was having affairs with multiple women, ostensibly even using Snopes money for prostitutes. Of course even if not the primary cause of the divorce, a husband-and-wife business is going to make the divorce messier.
I clearly don't know enough about the background to make any call on who's right and who's wrong here.