Divorce question

[roarrrr1111@aol]

What is the name of your state (only U.S. law)? Maryland
When a spouse keeps the house is the other person entitled to half the equity of half the appraised valueWhat is the name of your state (only U.S. law)?

 

[LdiJ]

What is the name of your state (only U.S. law)? Maryland
When a spouse keeps the house is the other person entitled to half the equity of half the appraised valueWhat is the name of your state (only U.S. law)?

The other spouse is entitled to 1/2 of the marital equity (the equity that accrued during the marriage). If the house was purchased during the marriage, that is 1/2 of the total equity. If it was purchased prior to the marriage, then it would not be 1/2 of the total equity. Equity is appraised value minus the remaining principal on the mortgage.

If both spouses are on the mortgage, then the spouse keeping the house also has to refinance the mortgage into soley their name.