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As a result of my marriage, i am under a lot debt which i didn't have prior to my marriage, so technically this money left from selling the condo should go towards paying this debt first, then whatever is left will be divided between me and her
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The debt was incurred DURING the marriage correct? You didn't enter INTO the marriage with it?
If the above statement is correct, then your understanding is also correct.
Marital Assets - Marital Liabilities = Equity to be split.