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Davis Schuler & Associates, A CDFA Practice supports leads, CV requests, and QDRO leads across 11 pages for client intake and divorce advisory work.

Topic

Real Estate and Divorce

Home equity, marital vs. separate, buyouts, and tax consequences of property division.

Real Estate and Divorce

How does a home buyout work in a divorce?

A home buyout in a divorce means one spouse keeps the house and pays the other spouse for their share of the equity. The process involves determining the home's current market value, calculating the equity (value minus mortgage and any other liens), and structuring the payment. The buying spouse typically refinances the mortgage to remove the other spouse's name from the loan and pays the buyout from cash, a cash-out refinance, or by offsetting with other marital assets.

Real Estate and Divorce

How is home equity divided in a Utah divorce?

In Utah, home equity is divided as part of the equitable distribution of marital property. The court first determines the home's fair market value, subtracts all liens to calculate equity, and identifies any separate property portion. The marital equity is then divided equitably, which means fairly but not necessarily equally. One spouse typically keeps the home through a buyout, or the home is sold and the proceeds are divided after paying the mortgage, closing costs, and any selling expenses.

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