Who gets the sale proceeds from a co-owned home? | NC

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Q: What happens to the sale proceeds from a co-owned home when both owners have an interest in the property? A: Usually, the full sale price is not split first. The mortgage, liens, taxes, closing costs, sale expenses, and any court-approved costs are paid first. What is left is the net sale proceeds. Those net proceeds are usually divided based on each owner’s legal ownership interest. For…