Question by  DogLoverForAll (31)

What is the process if the wife and husband have agreed that upon the divorce the wife will buy out the marital home from the husband?

My parents are divorcing and in the agreement my mom will be buying out their home from my dad.


Answer by  technogeek (6640)

Typically, is there is no agreement regarding who will live in the home, then the home is sold and the proceeds are split between the two parties. What is happening here is that instead of the house being sold and the proceeds being split, your mother is planning to give your father his half of the proceeds.


Answer by  Mary (2095)

What this typically entails is that the wife would get a mortgage for the portion owned by the husband. The money if not owed elsewhere would be paid out to the husband and the wife would make payments on the mortgage.


Answer by  Rose (6804)

At the time in which the divorce is final and or the specified time in the divorce agreement your mother will need to present your father a check for the his take in the value of the home.


Answer by  SubhashChander (1773)

The decree of divorce would be based upon the mutual consent of both the parties seeking divorce on agreement basis and the judgement will be passed accordingly by the court how the assets would be transferred from one party to the other.

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