Legal Question in Family Law in Virginia

my husband and I are going through a divorce and we have to settle the house. How is it determined how much either one of us needs to pay the other to buy out?


Asked on 3/06/12, 5:31 am

1 Answer from Attorneys
Paul B. Ward Law Offices of Paul B. Ward

Start with the fair market value, established either by agreement or by certified real estate appraiser, deduct the present amount owed for mortgage(s) on the house, and split the difference, usually 50/50. If premarital funds were used to purchase it, or gifts to one of you from someone other that the other of you, deduct that or those amounts from the net (value less mortgages) and split the remainder.

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Answered on 3/06/12, 7:39 am


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