The goal of ED is it make sure the assets are allocated equally, for example if there is $30,000 in equity in the house, each party would be entitled to half. However, if the person remaining in the home is paying more debt, then that may reduce the amount of equity they are entitled to. Generally, if you do not have cash on hand and are trying to buy one party out, you would refinance and pull the equity out of the home. Retirement accounts are generally divided equally between the parties, remember when dividing retirement accounts that because they have tax consequences, they do not have the same value as cash.
Helena M. Nevicosi
Attorney with Rosen Law Firm
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax
Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044
Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780
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