Legal Question in Family Law in Oklahoma

property division

what is the law regarding a home that you and your spouse own together? my husband filed for the divorce and will be keeping the house, which i agree to but feel that i am walking away from alot. I was told that we should have the home appraised and then he has to pay me for 1/2 the value? how does that wk if we still owe on the house? we were married almost 10 yrs and own the house together.


Asked on 11/06/06, 8:52 pm

1 Answer from Attorneys
Steve Chlouber Fuller, Chlouber & Frizzell, L.L.P.

Re: property division

The difference is what your home is worth and what you owe on the home is called "equity in the home." It is a marital asset that can be divided in a divorce, or in the alternative, awarded to one spouse with that spouse having to pay the other spouse his/her share of the equity of the asset.

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Answered on 11/07/06, 11:12 am


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