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

Reading, PA |
Filed under: Divorce

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

Posted

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?

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Posted

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 Bucks County, Montgomery County and Philadelphia. For more information visit our site. www.PhillyEsquire.com This response is for informational purposes only and does not constitute legal advice. The response is intended, but not promised or guaranteed to be current, complete, or up-to-date. Transmission of the information is not intended to create, and the receipt does not constitute, an attorney-client relationship between MIchael Kuldiner, Esquire and any party. The responses provided on this website are offered only for general informational and educational purposes. They are not offered as and do not constitute legal advice or legal opinions. You should not act or rely on any information contained in these responses without first seeking the advice of an attorney.

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Posted

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.

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Posted

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 of workers' compensation law by the Pennsylvania Bar Association's Section on Workers' Compensation Law as authorized by the Pennsylvania Supreme Court. A response from Attorney Wolf cannot constitute legal advice and does not create an attorney-client relationship. If you would like to arrange to speak with Attorney Wolf, he can be reached at 610-323-7436.

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