Q: My spouse wants to buy me out of the our home. I don't want to sell because the appraised price come in ridiculously low
I would prefer to defer selling the house until kids turn 18 or 21. My spouse would prefer for us to not own a house together for the next 10+ years and wants to buy me out now. Can either one of us force the other person to do what they don't necessarily want legally?
We are getting a divorce.
A: In short - usually yes. During the equitable distribution portion of a divorce and assuming the house you are referring to was purchased during the marriage, the court typically allows 6 months to 1.5 years to refinance a mortgage on jointly owned property or otherwise have a sale. If there is a refinance, the other party is paid roughly 50% of the marital equity in the home or if there is a sale, the proceeds are divided.
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