Can real estate commission be deducted from value of home when totaling marital assets?

Asked 10 months ago - Reading, PA

I'm In the process of splitting marital assets and my wife's attorney is deducting 7% of the homes value for real estate commission and real estate transfer tax. Is this allowed?

Attorney answers (4)

  1. Michael Kuldiner

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    Contributor Level 14

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    Answered . Usually if its going to be sold. However if one spouse is keeping it then the commission should not be considered.

    Michael Kuldiner, Esq. (215) 942-2100. Our Practice is focused on Divorce, Custody and Real Estate matters in... more
  2. Susan J. Vandegrift

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    Contributor Level 14

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    Answered . Yes, it is allowed if the parties agree. If you don't agree, you can argue the point in front of an equitable distribution master.

  3. Levi Samuel Wolf

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    Contributor Level 13

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    Answered . The short answer is that yes it is allowed, but the better question is why you haven't hired your own lawyer to help in your negotiations. You should be asking these questions to your own lawyer who can evaluate the facts of your specific case.

    Attorney Wolf is licensed to practice law in Pennsylvania only. He is Certified as a specialist in the practice... more
  4. A J. Williams

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    Contributor Level 15

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    Answered . There is no reason to deduct the commission unless it actually happens. Then we'd be talking about proceeds from the sale. I mean, really, if you're going to be deducting things that haven't occurred, why not ask for a split of her future lottery winnings?

Related Topics

Divorce

Divorce is the process of formally ending a marriage. Divorces may be jointly agreed upon, resolved by negotiation, or decided in court.

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