Legal Question in Family Law in Utah
dividing equity of house equally and fairly
My wife is paying me off for my half of the equity of our home after we divorce. My question is,is it fair for her to use a realestate comparison instead of an appraisal to determine the actual value. She thinks appraisals are always high and that realestate comps are more realistic of what the house would sell for.
What are your thoughts on this. Legally I kind of think an appraisal is more accurate because it is paid for and comps are free and more easily manipulated. Which way would the courts lean?
thank you for your time
Jerry
1 Answer from Attorneys
Re: dividing equity of house equally and fairly
You are talking about a lot of money. An appraisal costs about $200-400. If your wife does not like your appraisal, have her get her own. A court prefers an appraisal to a compararison, but will acceot what ever you agree on.
If you cannot agree on the value of the equity, get an appraisal.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
