Legal Question in Family Law in Ohio

Amicable Disillusionment

My wife and I of 30 years are calling it quits with an equal split of all assets including a house valued at approx. $160,000. She chooses to stay and ''buy me out''. What am I entitled to? Is it simply the equity in the home (which was purchased in 1987) or is it based on the appraised value of the home split in ''half''. Thank you?


Asked on 2/26/07, 4:52 pm

1 Answer from Attorneys
Nancy Fioritto Patete Nancy Fioritto Patete, Esq.

Re: Amicable Disillusionment

There are marital assets and marital debts. If your home is owned jointly, husband and wife, any loans or liens against the house in a martial debt and any equity is the house a marital asset. When one of the couple buys out the other, it would be at either the fair market value or an agreed upon appraised value. The buy-out should consist of half the appraised value.

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Answered on 2/27/07, 10:45 am


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