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Understanding How Proceeds Are Divided Fairly
When you sell your house during divorce, the proceeds must be divided between spouses. In Nevada, as a community property state, proceeds are typically divided equally (50/50), but the calculation can be complex. Understanding how proceeds are calculated and distributed helps ensure fair outcomes.
Before splitting proceeds, you must calculate net proceeds—the amount remaining after all expenses are paid:
Net Proceeds Calculation
Sale Price: $500,000
- Mortgage Payoff: $300,000
- Closing Costs: $15,000
- Repairs/Credits: $5,000
- Other Liens: $0
Net Proceeds: $180,000
Each Spouse's Share (50/50): $90,000
In Nevada, community property is divided equally (50/50). This means:
Several expenses are deducted before proceeds are split:
Proceeds are typically distributed at closing:
While 50/50 is typical in Nevada, division may differ if:
Each spouse is responsible for their share of capital gains tax (if applicable). The $250,000 exclusion applies to each spouse's share if they meet ownership and use requirements.
Learn more: Capital Gains Tax Guide
In Nevada, it doesn't matter who made mortgage payments during marriage—equity acquired during marriage is community property and divided equally. However, if payments came from separate property funds, that may affect division.
If one spouse owned the home before marriage, they may retain pre-marital equity, but community property contributions (payments, improvements) create community property interest that must be divided.
Proceeds are typically distributed at closing. Each spouse receives their share via wire transfer or check, usually within 1-2 business days of closing.
Understanding how proceeds are split and ensuring fair distribution requires accurate calculations and proper documentation. Dr. Jan Duffy provides detailed calculations and coordinates with attorneys to ensure proceeds are distributed correctly.
Schedule a consultation with Dr. Jan Duffy to get accurate calculations and understand how proceeds will be split in your specific situation.
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