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Sorry I forgot to minus her loan which would need to be paid out, so it would be just $105k left.

This doesn?t seem to add up $450,000 / 2 = $225,000, i.e. each half is worth $225,000 Half the existing loan is $120,000. This is how much your spouse would pay out to the bank to buy your half (or you hers/his). So the new deductible loan would be $120,000 + $225,000 (100% of the half) =...