D
Doc39
Guest
Hello,
I live in Wisconsin and will be divorcing from my wife in the very near future. My wife and I have agreed that she can stay in the house with our two children. My wife would further like to buy out my half of the house. I am also agreeable to this.
My questions regarding the buyout are as follows:
1). If we sold the house, we would split the equity as well as any profit we derived from the sale. When my wife buys me out, I will get half of the equity in the house. Shouldn't I also get half the fair market value of the house (assuming our property value went up)? This would be analogous to any profit we could make if we just sold the house.
2.) Is there any time limit as to when my wife needs to get me the money in a buyout scenario? If there is no legal answer to this, is there any kind of "rule of thumb" in regards to this?
Thanks!
I live in Wisconsin and will be divorcing from my wife in the very near future. My wife and I have agreed that she can stay in the house with our two children. My wife would further like to buy out my half of the house. I am also agreeable to this.
My questions regarding the buyout are as follows:
1). If we sold the house, we would split the equity as well as any profit we derived from the sale. When my wife buys me out, I will get half of the equity in the house. Shouldn't I also get half the fair market value of the house (assuming our property value went up)? This would be analogous to any profit we could make if we just sold the house.
2.) Is there any time limit as to when my wife needs to get me the money in a buyout scenario? If there is no legal answer to this, is there any kind of "rule of thumb" in regards to this?
Thanks!