My husband owned the matrimonial home before we were married and my name was added to the deed. Since he naturally wants to keep it, he plans to buy me out. When I completed my Financial Statement, I included an estimation of my share of the value of the matrimonial home on the separation date (which was two years ago) and today in Part 7(a) and deducted my share of the mortgage in Part 8. My husband is obtaining two appraisals for the house (its value on the separation date and its value today). Now for the questions.
1. Which date do we use for the valuation of the home, because I assume that it has increased substantially in value in the past two years. I have not paid anything towards the house since I moved out, but I have paid him nominal spousal support because I'm earning more than he is.
2. When it comes to my husband buying me out, is the mortgage deducted from the value of the home to arrive at a buyout price even though it has already been deducted on the Financial Statement? For example, if we use the separation date and the home was worth $325,000 and the mortgage was $150,000, would he owe me $162,500 or $87,500.
3. Are real estate fees also deducted from the value of the home if he is buying me out? At 6%, they would be $19,500. How about legal fees?
Thanks.
Linda
1. Which date do we use for the valuation of the home, because I assume that it has increased substantially in value in the past two years. I have not paid anything towards the house since I moved out, but I have paid him nominal spousal support because I'm earning more than he is.
2. When it comes to my husband buying me out, is the mortgage deducted from the value of the home to arrive at a buyout price even though it has already been deducted on the Financial Statement? For example, if we use the separation date and the home was worth $325,000 and the mortgage was $150,000, would he owe me $162,500 or $87,500.
3. Are real estate fees also deducted from the value of the home if he is buying me out? At 6%, they would be $19,500. How about legal fees?
Thanks.
Linda
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