The Burren. The Burren is an amazing place. It is a karst limestone region of approximately 300 sq km which lies in the North West corner of Co Clare, in Ireland. It is composed of limestone pavements, which are eroded in a distinctive pattern known as karren.
Home equity is the amount of money you have already paid against the value of your home. A simple formula for determining your home equity is to subtract the amount of the mortgage balance from the current fair market value of your home. In other words, your equity increases as your mortgage balance decreases.
Equity in assets is a crucial part of property division in a divorce and the marital home is often a couple's most valuable asset. Most state laws require a home's equity to be determined by appraisal as part of the divorce process. It's important to identify equity because each spouse is entitled to a share of it as part of property division. Select a licensed real estate appraiser who has experience appraising homes for divorces.