The math has to clear a mortgage stress test on one income, not two, so a buyout only works when the staying spouse's income supports the full mortgage plus the lump sum or refinanced amount owed to the other spouse, often confirmed with a lender before either side signs off.
The Homesteads Act, 1989 matters here too: because it protects the family home, both spouses' consent is needed to refinance or transfer title, even where only one name appears on the deed, so a lawyer confirms consent and registers the change at Information Services Corporation once the numbers work.
When the refinance does not qualify, a sale and equal split of proceeds through the lawyer's trust account is usually the fallback. Get your hand-reviewed valuation from Joel Dyck.