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Nov 07
2004
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Ask a Lawyer: What happens with a house during a divorce?Posted by: Dads Divorce on Nov 7, 2004   |
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Question:
My wife and I are divorceing and we have owned a house together since 2003. I want to sell the house and split the profits. She wants to stay in the house. She says that she can keep the house and give me half the equity and remain in the house. Then when she goes to sell the house in a couple years she gets to keep all the profits. Is this true? What are our options?
Answer:
Allow me to preface my response that I am not licensed to practice in Oklahoma. She is correct. So long as you receive your portion of the equity that you are currently entitled to, then she can stay in the residence and collect profits down the road. The only real concern is if your name is on the house. She will need to refinance so you can be removed from the debt so you will be able to get a home of your own.
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