Dividing property in a divorce is rarely a simple process, and dealing with a house is no exception. If one person in Texas plans to buy out a spouse and keep the home, there are several considerations to keep in mind.
First, it is necessary to determine how much equity each person has in the home. Next, an appraiser should determine the home's market value. In some cases, each spouse might want a separate appraiser. In the best-case scenario, their appraisals will be similar. If they differ significantly, the couple may need to hire a third appraiser to resolve this. The spouse who is keeping the home may also want to hire a home inspector to check the property. If significant repairs need to be made, the spouses will need to decide how they will pay for this.