Legal Question in Family Law in Minnesota

Typically the person who is refinancing pays the closing costs; however, the division of the equity in the home can be taken into consideration. For example, if there is equity in the home, the amount of the equity to be divided can first be reduced by the closing costs. So let's say there is equity of $20,000 and the closing costs will be $2,000 then the net amount of $18,000 can be divided. This does not happen automatically but is a term of settlement that can be negotiated.