Buyout of home

Get Legal Help Today

 Secured with SHA-256 Encryption

Buyout of home

House worth 458,000 per appraiser
I lived in the home 11 years
Still part owner of the home
What would be a fair amount that should I asked for
my portion of the home.?

Asked on July 30, 2019 under Family Law, Maryland

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

A fair amount is 1/2 the current fair market value (what it would bring in if sold), which is probably the appraised value if the appraisal is recent--so around $229k. To get this done without undue delays or litigation costs, it would be reasonable to take around 10% or so less--so based on what you write, around $200k.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption