QUESTION
when it comes time to buy the other person out of the house, what determines buy out price? Market Value or Appraised or assesed Value??
Asked on Jul 30th, 2015 on Family Law - New York
More details to this question:
a property asset has come to time to be divided...Thank you for your time in answering this question. One attorney said it was market value, I myself was told its appraised value, with the assessed (town)value taken into consideration.
1 ANSWER
It's a negotiable term - but often appraised value is used...never assessed value.
Answered on Jul 31st, 2015 at 2:01 PM