First some background... I do live in California and separated from my wife two years ago. We are now going through the divorce and are doing it ourselves. My ex stopped contributing toward the house payments when she moved into an apartment 1yr ago. :mad: I now live in the house and have been trying to sell it for the last 6months. There have been no offers and now the house is valued under what our loan is for.
So my question, if one of us decides to keep the house, what would the buyout be? My understanding is that the settlement for buying out the other spouse would be half of the equity. With this crappy housing market, I doubt the house will be valued over the loan amount anytime in the next couple years. Would the law find that one person just signs over the house or is there a way to figure out a buyout?