Real estate in a divorce is treated like other assets. The first step for the court is to classify the property as marital, separate, or part separate and part marital, also known as hybrid property.
The value of the property is typically determined by its equity, which is the value of the property itself minus any liens or debts attached to it. Valuing the property is usually done through a professional appraiser, whether it’s residential, multiple residential, or commercial properties.
The timing of when the property was purchased, how it has increased in value, and its current value are all important factors. The method used to determine these values will depend on the specific circumstances of your case.
