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Ever since housing prices plummeted, family law attorneys have struggled to determine how to treat real property with negative equity. Does it go on the balance sheet as a negative number or does it get valued at zero? With Middendorf v. Middendorf, the Court of Appeals issued a decision addressing how to treat real property with negative equity, an issue family law attorneys have struggled with since housing prices plummeted. The opinion provided some direction but not a comprehensive exposition on the subject.
The article is part of a series previously printed in Minnesota Lawyer covering topics relevant to the area of family law.