If I want to buy out my spouse from the house we bought, do I just pay 1/2 of the current equity or 1/2 the worth of the house at time of divorce?

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If I want to buy out my spouse from the house we bought, do I just pay 1/2 of the current equity or 1/2 the worth of the house at time of divorce?

My spouse and I bought a house for $200,000. At the time of our divorce we had $145,000 left to pay but the house was then worth $450,000.

Asked on January 20, 2016 under Family Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

There is no one correct answer: at the end of the day, if the amount or method for determining it is not set in a divorce decree or order, it is whatever amount the two ex-spouse agree upon (as with any home sale: it's what buyer and seller agree to).
That said, the most common price would be 1/2 the home's value at the time of the divorce, the same as when you buy a home from anyone, you typically pay a price based on the current market value, not the equity. But if you paid a different amount and he was content with it, that is legally ok.


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