Who Gets the Home in the Divorce?

Waye-Law-Contributed by Ashley Waye / Founding Lawyer. When separating or divorcing, many married couples wonder and worry about what will ultimately happen with the home in which they live. Assuming at least one of the individuals has an ownership interest in the home when they separate, then the home is referred to, in legal terms, as a “matrimonial home.”

 
If a couple chooses to resolve the matrimonial home issue outside of court, they have many options: 1) list the home for sale and divide the proceeds; 2) one person remains in the home for an agreed upon extended period of time, with a clear allocation of the home’s carrying costs and an outline of how proceeds will be divided once ultimately sold; and 3) one person buys the other’s interest in the home.

 
If a couple cannot agree on a solution, the issue goes to court, and no-one gets the home! Courts do not take into consideration one person’s wish to keep the home and, of course, they cannot order that a home be physically divided in two! The court will simply order that it be sold and the proceeds divided taking into account the division of all matrimonial assets.
Waye Law, 33 Jarvis St., Suite 200 416-929-5883 x11
ashley@wayelaw.com

wayelaw.com  

TwitterGoogle+FacebookLinkedInDiggStumbleUponBlogger PostDeliciousShare

Other News

first-parliament-building=parliament-street

First Parliament

Some interesting developments on The First Parliament site is located in downtown Toronto at the intersection of Front and Parliament Streets. It is a full city block, bounded on the west by Berkeley … [Read More...]

Homelife-Mural-copy

Cabbagetown Outdoor Gallery

Contributed by Gerald Michaud, Broker - ManagerHomeLife/Realty One Ltd., Brokerage -- Recently, we commissioned a piece of Art by artist Christian English-Pratt.  The Art mural being painted is on our … [Read More...]

doubletake-thrift-store-cabbagetown

Double Take has all the giftables

Contributed by Sharon -- YSM’s Double Take Thrift Store is here to help you get ready for the holidays! Our staff are excited to share sustainable and creative ways the Cabbagetown community can show … [Read More...]

homes-in-cabbagetown

KNOW THAT HOUSE

Contributed by  Maryam Hatam -- Hugh Neilson House: This yellow brick house (295 Carlton St.), with a beautiful wooden door was built in the Gothic Revival style in 1878 for Hugh Neilson, a Scottish … [Read More...]

St Anne’s Heart

Contributed by Anita Bostok --- Back in the 1980s, a friend dared Carlos Carreiro to take a dance class. Up for the challenge, he went to the class that he found enjoyable, but it was the attractive … [Read More...]

Tony Lafazanis – Personal Injury Lawyer

Are You a Victim of a Hit and Run?

Contributed by Tony Lafazanis – Personal Injury Lawyer --- Getting in a car accident, for any driver, cyclist or pedestrian can be a nightmare. Unfortunately, hit and run accidents occur far too … [Read More...]

bostok-hathaway-getting-to-know-you

GETTING TO KNOW YOU

Cabbagetown is a neighbourhood of beauty, heritage, cultural diversity and inclusion. We are Anita Bostok and Noman Hathaway and we’re proud to contribute this regular feature where you get to know … [Read More...]

shuter-street-Pharmacy

Shuter Street Pharmacy

Shuter St Pharmacy located at 290 Shuter, Corner Shuter and Parliament is now under new management. Our professional team is ready to serve the Cabbagetown and surrounding communities for all their … [Read More...]

Pollinator-Project_Dixon-hall

Pollinator Grant Update

In 2019, staff from the Rooming House Project applied for the Pollinator Grant with help from local tenants who were interested in the project. Together staff and clients completed the application, … [Read More...]

greenthumbs

Green Thumbs Pumpkin Project

Green Thumbs Growing Kids is a local charity actively creating school food gardens in order to connect children to food and their environment. For 21 years we have been at the forefront of … [Read More...]

You’re just the right kind of wrong!

Contributed by Debjani Sinha Do you hear this background noise in your head? “You’re too loud!” “You won’t make it.” “They don’t like you.” “You look bloated.” “It’s all your fault.” and … [Read More...]

enough1

Wish I Could

Dub J announces new single with all-star cast to speak out against gun violence. Canadian producer Dub J unifies a Toronto A-List roster of JRDN, Maestro Fresh Wes, JD Era, Bizz … [Read More...]