Legal Question in Family Law in Indiana
How is the value of a house decided and then split? Is it based on the current market value or the amount still owed toward the home? Do you take in account equity?
Asked on 9/16/09, 12:46 pm
1 Answer from Attorneys
Generally, the house is appraised. Net equity(Sales price less mortgage balance, lien payments, etc. and selling costs) is determined and then divided betwene the parties. Sometimes there are capital gains issues that also need to be addressed.
Answered on 9/16/09, 1:11 pm
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