Legal Question in Family Law in Virginia

Property ''buy out ''? market value or balance owed

Is the ''buy out price '' in marital property division as it relates to the marital home, the market value or the balance owed on a mortgage? Virginia. Stay at home mom with a 10 year old daughter.

Thank you


Asked on 9/08/04, 4:41 pm

1 Answer from Attorneys
Thomas Dunlap Dunlap, Grubb & Weaver, PLLC

Re: Property ''buy out ''? market value or balance owed

A buy out usually means that one party refinances the house in their sole name and pays the other party their half (or percentage thereof) of the property so as to settle any dispute regarding that piece of property. For further answers, and to speak to one of our family law attorneys, please call us at 703-777-7319. Thank you.

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Answered on 9/08/04, 5:49 pm


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