${site.data.firmName}${SEMFirmNameAlt} Main Menu
Call Today: 855-805-0595

Estimating the value of a house during a divorce buyout

76352539_S.jpgFor divorcing couples in Missouri, the family home is usually a major asset. One option that couples have is to sell the home and then split the profits. Another option is for one person to continue living in the home, especially if there are children, and buy their soon-to-be ex-spouse's share.

For a buyout to occur during a divorce, the couple needs to know the value of the house. They can hire appraisers to get the current fair market value of the house. Both parties should choose an appraiser even though this will essentially double the cost. However, it is usually necessary to come to an agreement. If the appraisers offer a similar number, everyone may feel satisfied with the calculation. However, if one appraiser had a number much higher or lower than the other, a third appraiser may be brought in.

A big part of calculating how much a divorce buyout would cost is knowing how much equity there is in the home if it has a mortgage. This is pretty simple to determine. A couple would take how much their house is worth and subtract how much is left on the mortgage. That number would then be divided. The divided number represents how much each spouse has in equity in the house.

Once an agreement is made and the couple moves forward with the buyout, one of their names will need to be removed from the title. A person in this situation may wish to speak with a family law attorney. The lawyer could offer advice on the best legal way to have a person's name removed from the title after divorce. Legal counsel may also be able to give advice on alimony, spousal support, custody, and other family legal issues.

No Comments

Leave a comment
Comment Information

Contact Our Team To Get Help Now

Tell us about your case and we’ll get back to you promptly.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Stange Logo

Stange Law Firm, PC
120 S. Central Ave, Suite 450
Clayton, Missouri 63105

Toll Free: 855-805-0595
Fax: 314-963-9191
Law Office Map

DHQ | Divorce Headquarters Divorce
Headquarters ® App Download The App
Questions? Live Chat Pay Your Bill Online
States of Service

Other Office Locations

  • Saint Louis County: 120 S. Central Ave., Suite 450, Clayton, MO 63105: Clayton Office
  • West County: 16024 Manchester Rd., Suite 103, Ellisville, MO 63011: Ellisville Office
  • Jackson County: 256 NE Tudor Rd., Lee's Summit, Missouri 64086: Lee's Summit Office
  • Jefferson County: 16 Municipal Drive, Suite C, Arnold, MO 63010: Arnold Office
  • St. Charles County: 2268 Bluestone Drive, St. Charles, MO 63303: St. Charles Office
  • Franklin County: 5 S. Oak St. Union, MO 63084: Union Office
  • Lincoln County: 20 Centerline Drive, Troy, Missouri 63379: Troy Office
  • Boone County: 1506 Chapel Hill Rd., Suite H, Columbia, MO 65203: Columbia Office
  • Greene County: 901 E. St. Louis, Suite 404, Springfield, Missouri 65806: Springfield, MO Office
  • St. Clair County: 115 Lincoln Place Ct., Ste. 101, Belleville, IL 62221: Belleville Office
  • Madison County: 25 Professional Park, Suite B, Maryville, Illinois 62062: Maryville Office
  • Sangamon County: 400 S. 9th St., Suite 100, Springfield, IL 62701: Springfield Office
  • McLean County: 1012 Ekstam Drive, Suite 4, Bloomington, IL 61704: Bloomington Office
  • Johnson County: 7300 West 110th Street, Suite 560, Overland Park, KS 62210: Overland Park Office
  • Sedgwick County: 2024 N. Woodlawn Street, Suite 407, Wichita, Kansas 67208: Wichita Office
  • Shawnee County: 800 SW Jackson Street, Suite 812, Topeka, Kansas 66612: Topeka Office
  • Tulsa County: 6660 S. Sheridan Road, Suite 240, Tulsa, Oklahoma 74133 Tulsa Office
  • Monroe County: 116 W. Mill St., Waterloo, IL 62298 (by appt. only): Waterloo Office
  • St. Louis City: 100 S. 4th St., #549, St. Louis, MO 63102 (by appt. only): St. Louis Office
  • Jackson County: 2300 Main St., #948, Kansas City, MO 64108 (by appt. only): Kansas City Office

The choice of a lawyer is an important decision & should not be based solely upon advertisements. See additional disclaimers here.