Originally Posted by mnnice
If it's $200,000 he needs to give you $100,000 minus what ever other assess you are keeping (so $98,000 if you keep the crappy van) not $10,000.
Not unless the house is paid off.
If you only have $40k equity in the house, then you only get $20k each. The bank owns the rest so there is no more profit.
So for example, if the house is valued at $200k but you owe the bank$160k, there is only $40k.