The official appraisel will determine how much you will split. If it appraise for $300 she get $15 if it appraise for $300,000 she get $150,000.
You will need to agree on a value. If you were to go to court, the court would hear evidence regarding the differing values of the home and make a decision.
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
301 McCullough Drive
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044
Durham & Chapel Hill Office
1829 East Franklin Street
Chapel Hill, NC 27514
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My wife has decided to move out of our home and is going to let me keep it. I am prepared to give her a settlement of half the equity in our home. The home was appraised at $300,000 and I owe $140,000 on my mortgage. However, comparable sales for that model home in my neighborhood are selling for $250,000. Am I responsible to pay the difference between $300,000 and $140,000 = 1/2 of $160,000 ($80,000).
Or the difference between $250,000 and $140,000 = 1/2 of $110,000 ($55,000). Lets say my home is worth $2,000,000 for the sake of discussion, if we were both leaving the home it could still only be sold for $250,000.