want to buy out my spouse

[stealth2]

You should also offer comps - comparative sales figures for comparable homes in the area.

 

[Bali Hai]

You should also offer comps - comparative sales figures for comparable homes in the area.

Why bother? STBX has made up her mind that the house will be sold out of spite so OP can't have it. The other posters have said the court will back her up.

 

[burton123]

Why bother? STBX has made up her mind that the house will be sold out of spite so OP can't have it. The other posters have said the court will back her up.

i guess that is exectly what STBX is thinking. Next month we will be in mediation so i will try to change her mind.

If she threats this as a business, she will realized that my offer is a much better offer because
STBX didnt live in the house for 2 years so she needs to pay 15% capital gain tax on the sale from the profit + commissions to realtors (6%)+ 1.8% county sale tax

Even though the house is sold for $320K (which is very unlikely after 3 appraisals), after reducing all sale the costs + the taxes, my final offer is $10K more than what she will get from the sale and also she will not pay attorney fees, court fees etc which is a win win for her but will see what she thinks.

 

[Bali Hai]

i guess that is exectly what STBX is thinking. Next month we will be in mediation so i will try to change her mind.

If she threats this as a business, she will realized that my offer is a much better offer because
STBX didnt live in the house for 2 years so she needs to pay 15% capital gain tax on the sale from the profit + commissions to realtors (6%)+ 1.8% county sale tax

Even though the house is sold for $320K (which is very unlikely after 3 appraisals), after reducing all sale the costs + the taxes, my final offer is $10K more than what she will get from the sale and also she will not pay attorney fees, court fees etc which is a win win for her but will see what she thinks.

A win for her might be that she is willing to take a heavy loss for both of you and you lose the house.

Believe it or not, there are people in this world like that. Some people tend to act on their emotions more than others, such as holding steadfast at all cost to the notion that you will not remain in the marital home and have a chance to replace her with someone else.

Good luck.

 

[Proserpina]

. Some people tend to act on their emotions more than others

.

That's ironic coming from you, Bali.

 

[Bali Hai]

That's ironic coming from you, Bali.

Well, I guess you don't have me pegged like you thought. Stay tuned.

 

[LdiJ]

i guess that is exectly what STBX is thinking. Next month we will be in mediation so i will try to change her mind.

If she threats this as a business, she will realized that my offer is a much better offer because
STBX didnt live in the house for 2 years so she needs to pay 15% capital gain tax on the sale from the profit + commissions to realtors (6%)+ 1.8% county sale tax

Even though the house is sold for $320K (which is very unlikely after 3 appraisals), after reducing all sale the costs + the taxes, my final offer is $10K more than what she will get from the sale and also she will not pay attorney fees, court fees etc which is a win win for her but will see what she thinks.

The bolded is dead wrong. One, the rule is that the house must have been your principal residence two of the last five years, and two, that rule doesn't apply in a marital asset settlement...when assets are sold to divide them in a divorce. As long as at least one of you was living in the house, you both get the exclusion.

Don't use things that you are not certain are 100% accurate, or you will total your chances if/when she researches what you have presented to her.

 

[Bali Hai]

The bolded is dead wrong. One, the rule is that the house must have been your principal residence two of the last five years, and two, that rule doesn't apply in a marital asset settlement...when assets are sold to divide them in a divorce. As long as at least one of you was living in the house, you both get the exclusion.

Don't use things that you are not certain are 100% accurate, or you will total your chances if/when she researches what you have presented to her.

I seriously doubt she will do anymore research no matter what is presented. So far as I know, the technology hasn't been developed yet to fix stupid.

 

[burton123]

The bolded is dead wrong. One, the rule is that the house must have been your principal residence two of the last five years, and two, that rule doesn't apply in a marital asset settlement...when assets are sold to divide them in a divorce. As long as at least one of you was living in the house, you both get the exclusion.

Don't use things that you are not certain are 100% accurate, or you will total your chances if/when she researches what you have presented to her.

Thanks for heads up, did a little research and you are absolutely right...
https://turbotax.intuit.com/tax-tools/tax-tips/Family/Getting-Divorced/INF12003.html

 

[burton123]

A win for her might be that she is willing to take a heavy loss for both of you and you lose the house.

Believe it or not, there are people in this world like that. Some people tend to act on their emotions more than others, such as holding steadfast at all cost to the notion that you will not remain in the marital home and have a chance to replace her with someone else.

Good luck.

i know. it is very hard to understand that emotion for me. I am very analytic in these cases but she is emotional...
thanks for the good luck wishes.

 

[tranquility]

The bolded is dead wrong. One, the rule is that the house must have been your principal residence two of the last five years, and two, that rule doesn't apply in a marital asset settlement...when assets are sold to divide them in a divorce. As long as at least one of you was living in the house, you both get the exclusion.

Don't use things that you are not certain are 100% accurate, or you will total your chances if/when she researches what you have presented to her.

While I agree with the capital gains issue regarding residence and would agree with a transfer between the spouses as part of a property settlement, what's all this then about selling assets to divide them in a divorce being tax free? If so, I know a lot of people who need to divorce and remarry every few years. Or, at least once.

 

[burton123]

To update the thread, we are going through mediation at the beginning on October.

 

[LdiJ]

While I agree with the capital gains issue regarding residence and would agree with a transfer between the spouses as part of a property settlement, what's all this then about selling assets to divide them in a divorce being tax free? If so, I know a lot of people who need to divorce and remarry every few years. Or, at least once.

I know this is old but I haven't seen it until now...

Tranq, I was referring to the house and the fact that they will both get their 250k exclusion. I was not referring to the taxability or non-taxability of any other type of asset. That depends on the type of asset.

 

[tranquility]

A win for her might be that she is willing to take a heavy loss for both of you and you lose the house.

Believe it or not, there are people in this world like that. Some people tend to act on their emotions more than others, such as holding steadfast at all cost to the notion that you will not remain in the marital home and have a chance to replace her with someone else.

Good luck.

http://knowyourmeme.com/memes/some-men-just-want-to-watch-the-world-burn
http://www.buzzfeed.com/expresident/people-who-just-want-to-watch-the-world-burn