In these unique and ever-changing times, the attorneys and staff at Miles Hansford & Tallant are available and committed to meeting all of your needs.


For more information, click here.

Buying out a family home during a divorce

One option that many Georgia couples consider when getting a divorce is to sell the family home and use it as part of the divorce settlement. Another option, especially when children are involved, is for one spouse to buy out the family home from their soon-to-be ex-spouse and continue living in it. When a couple decides to do that, they need to calculate the house buyout.

There are a couple of calculations that need to be done in order to determine how much the home is worth and how much each spouse owns. The first thing that needs to be done is to hire an appraiser to determine the fair market value of the home. It is usually necessary for each spouse to hire an appraiser in order to reach a deal. A third appraiser may need to be brought in if the first two have calculations that are drastically different.

If there is a mortgage on the home, how much each spouse owns needs to be determined. The first thing to do is to take the fair market value of the home and subtract what is owed on the mortgage. That number will be divided and represent how much each one owns in equity.

It may be necessary for one spouse to refinance the home after a divorce buyout. This may change how much the person pays because a new mortgage will be based on the one individual's income, credit score and the amount of debt they have.

The name of the ex-spouse will have to be removed from the title of the family home. An individual may want to work with a family law attorney to find out the options that are available for doing this. The attorney may also provide advice on financial matters relating family law, divorce and child custody.

No Comments

Leave a comment
Comment Information

We Are Ready To Hear From You

Email Us For A Response

Let’s Find A Solution Together

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Cumming Office
202 Tribble Gap Road Suite 200
Cumming, GA 30040

Phone: 770-744-1111
Fax: 770-781-9191
Cumming Law Office Map

Alpharetta Office
178 S Main Street
Suite 310
Alpharetta, GA 30009

Alpharetta Law Office Map

"By Appointment Only"
Call Our 24/7 Criminal Defense line: 678-343-8075