The couple has a house in Palm Beach County, Florida, and the petition was submitted there last week.
She has wanted to have her name changed back to Jennifer Flavin and has asked for exclusive use of their Florida home (they also own one in California). Additionally, she is requesting a larger portion of their assets, claiming the actor willfully wasted money that should have been made available to her.
Stallone has not yet submitted his answer to the divorce suit, and a request for comment sent through email to a spokesperson did not receive a prompt response.
All three of the couple’s daughters are adults, so there are no custody disagreements.
Sylvester Stallone, 76, star of the “Rocky” and “Rambo” franchises, married Jennifer Stallone, 54, a businesswoman and former model, in London in 1997.
They had dated for several years in the late 1980s and early 1990s before breaking up and later reconciling.
It was the third marriage for Sylvester Stallone, who was last married to his “Rocky IV” co-star Brigitte Nielsen from 1985 to 1987. It was Jennifer Stallone’s first marriage.