getting a divorce wife wants my house.

[Tensecta]

What is the name of your state (only U.S. law)? Ohio.
My wife wants a divorce. I bought a house while we were married it is only in my name. How does this work do I have to sell it to her? She thinks I have to sell it to her for what I owe on it which is signifigantly less. My understanding is if the house is worth 180 and I l 130. She would have to pay half the difference of the equity. Do I even have to sell it at all?

 

[Ohiogal]

What is the name of your state (only U.S. law)? Ohio.
My wife wants a divorce. I bought a house while we were married it is only in my name. How does this work do I have to sell it to her? She thinks I have to sell it to her for what I owe on it which is signifigantly less. My understanding is if the house is worth 180 and I l 130. She would have to pay half the difference of the equity. Do I even have to sell it at all?

You don't have to sell it. What you may have to do is pay her the 25k in marital equity that could be hers. She is entitled to half the equity that accrued during the marriage if the house was bought/paid for with marital funds (i.e. your income).

 

[Tensecta]

You don't have to sell it. What you may have to do is pay her the 25k in marital equity that could be hers. She is entitled to half the equity that accrued during the marriage if the house was bought/paid for with marital funds (i.e. your income).

Okay so if I am willing to sell it to her was she would buy the house for 25k more than I owe on it? And thanks for your response.

 

[mistoffolees]

Okay so if I am willing to sell it to her was she would buy the house for 25k more than I owe on it? And thanks for your response.

Correct - essentially.

Basically, she would have to pay you 1/2 of the marital equity - whatever that is. Some judges will subtract 6% from the selling price before backing out the mortgage because you're going to lose at least 6% to realtor commissions if you sell it, but that's not universal. The easiest thing is for you and your stbx to agree on a figure and submit that to the court. If you ask the judge to do it, you're going to have to spend a lot more time, energy and money on appraisals and documentation.

Make sure that ex has refinanced to remove your name from the mortgage before you sign a quit claim deed or transfer the home to her.