Legal Question in Family Law in Virginia
divorce and property home
if a couple have are buying a home together and seperate and divorce is almost final he wants the house she wants to be bought out does she get the value of house or only equatity
1 Answer from Attorneys
Re: divorce and property home
It the couple cannot agree and the matter must be decided by way of the court known as equitable distribution,
her entitlement would depend upon a number of factors, including the amount of any down payment she contributed to purchase the home, any upkeep or maintenance she performed, or improvements for which she was responsible, taxes she may have paid, etc., any or all of which a court might consider---along with other considerations--in determining what this lady's fair share of the property should be.
Nevertheless, however, if each of the twosome's contributions more or less roughly balanced each other out, one way or the other, then they should basically split the proceeds of the sale after appropriate deductions are made for the costs/fees involved in completing the transaction.