Legal Question in Family Law in New York
Divorce Assests
If we have a home we own which has an apprasal of 565,000. We still owe 535,000. If we divorce how would we split the home and what would I be entitle to montary.
Asked on 6/10/09, 11:26 am
1 Answer from Attorneys
Kristen Browde
Browde Law, P.C.
Re: Divorce Assests
The question can't be answered without knowing a bit more about your situation, however, if you owe 535k and have an asset worth 535k, the difference, $30,000, would be what's available to be divided.
Typically the house could be sold and the proceeds split. Alternatively, one party might simply pay the other the their share, and retain the house itself.
If you'd like to arrange a consultation to discuss the particulars of your situation, please feel free to get in touch.
Answered on 6/10/09, 11:36 am
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