A buyout is a settlement or court order in which one spouse keeps an asset and compensates the other spouse for their share of that asset's value. Buyouts are most common for the family home, a business, and retirement accounts.

For the family home a buyout typically involves the keeping spouse refinancing the mortgage in their name alone and paying the departing spouse their equity share in cash or as an offset against other assets.

Buyouts can be funded with cash, with an offset against another asset, with a promissory note, or with some combination.