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Selling the matrimonial house

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Anonymous Asked:

My wife and I have been separated for 6 months. No children involved. She has agreed that I can purchase her half of our home equity, but she considers one of the two professional market appraisals to be too low. I am not willing to pay more than the average value of these two appraisals. Consequently I suspect she now wants to sell the house and split the proceeds. Question: If I am pressured or ordered to sell the house, is there a generally accepted limit of time by which I would be required to place the house on the market?

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Stuart Zukerman
5 years ago

Generally speaking if the parties to this type of dispute cannot agree on fair market value then the court would order the home sold and the net sale proceeds divided between the parties. There is an incentive on the selling spouse to agree to a buy out as there would be no real estate commission deductible on a buyout whereas the net equity from any sale will be lowered by the sales commission and the legal fees involved in any sale. If your wife proceeds to apply for and obtain an Order to list the home for sale, the court would typically order the home to be listed within days or a week or two of the order.

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