You first need to first determine if it the house is separate property, or community property. If it is separate property, it will likely be awarded to one spouse. If it is community property, then one spouse must pay to the other party one-half of the equity in the house or the house will be sold and the proceeds divided equally. If the house has no equity, or is upside down, one spouse may be able to keep the home without any payment to the other, but may still have to refinance the other spouse off the loan.
Before selling any big asset, the house included, you need to first determine whether the house is separate property or community property. If it is separate property, it will likely be awarded to the spouse that owned the house. If it is community property, then one spouse must pay to the other party one-half of the equity in the house or the house will be sold and the proceeds divided equally between the parties. If the house has no equity, or is upside down, one spouse may be able to keep the house without any payment to the other, but may still have to refinance the other spouse off the loan.
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