Legal Question in Family Law in Georgia

Buying Out Spouse's Interrst in Home

I have a question about arriving at a figure to buy out my spouse's share of our marital home. We own the home 50/50 and have a good bit of equity tied up in it. If we jointly were to put the house up for sale, the costs of putting the house on the market -- fix up costs, brokerage fee --- would obviously reduce the amount we'd each come away with. If I choose to buy out her half instead, is it customary to offset these same costs -- fix up costs and brokerage fee -- before determining the amount of her share? I plan to buy her out so I can keep the house until my son goes off to college in two years. If I pay out my wife's share without offsetting 1/2 of a brokerage fee, I will then have to absorb the full brokerage fee out of my equity two years later. Can you tell me what the usual practice is here? Thanks.


Asked on 1/05/03, 6:44 pm

1 Answer from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: Buying Out Spouse's Interrst in Home

There is no pat answer to your question. This is a matter of negotiation. All of the facts in your respective financial conditions need to be reviewed.

Please feel free to give me a call to set up a consultation.

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Answered on 1/12/03, 5:17 pm


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