Q: If a couple in the state of Texas have a house and 1 of them decide to keep the house.
85,000 is owed on the house. The house was appraised at $240,000 how is it split?
A:
The answer to your question depends. A Texas family court will seek to make a just and right division of the community estate. There are a few different ways that this could end, and these examples are not all inclusive. A court could order that the house be sold and the proceeds be split or it could award the house to one party and require the receiving party to buy out the other party.
Many divorces end up settling in mediation, this may be beneficial to you. You and your spouse are in a better position to understand your life and finances than a court who handles many cases each day is. In mediation you are free to craft custom solutions to all of the issues in your case. I suggest that you contact a qualified divorce lawyer regarding the specific facts of your case. Although I appreciate being able to chime in on your issue, I am not your attorney and this answer is for informational purposes only.
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