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

weenen-Garden-2

Outdoors at Last!

Contributed by Kathy Flaxman. Deck, patio, back garden, balcony – everyone with access to outdoors is making the most of the warm weather.  Now, we have a chance to feel free and normal and experience … [Read More...]

bh2

GETTING TO KNOW YOU – part 2

Contributed by Anita Bostok and Norman Hathaway. Cabbagetown is a neighbourhood of beauty, heritage, cultural diversity and inclusion. Anita and Noman are proud to contribute this regular feature … [Read More...]

Cabbagetown_houses

Summer in Cabbagetown

Contributed by Gerald Michaud, Broker - Manager - HomeLife/Realty One Ltd., Brokerage. I love Cabbagetown in the summer. It’s a beautiful and family friendly neighbourhood with delightful surprises at … [Read More...]

money-andre-bermon

The end of cash?

Contributed by Andre Bermon, Publisher of the bridge. When was the last time you paid with money? Was it before the pandemic? Then you are not alone. It’s no surprise that societal changes caused by … [Read More...]

Meal-program-for-residentsx

The Corner during the Pandemic

Contributed by Aravind Joseph  (The Corner). The Corner is an organic community hub in SJT where residents and service providers come together seamlessly to collaborate, innovate and build community.  … [Read More...]

NedHanlan-parliament-street-news

Ned Hanlan 1855 – 1908

Contributed from the Cabbagetown People Website - www.cabbagetownpeople.ca Champion Oarsman – Ned Hanlan His resting place can be found in the Necropolis @ Section C, Lot 40   Ned’s … [Read More...]

416project4

The 416 PROJECT

Contributed by artist Jorge Molina. It’s been four years since Canadian artist Jorge Molina conceived of The 416 Project, installing 416 unique canvases throughout the many neighbourhoods of Toronto, … [Read More...]

Six Feet Apart

A Song written and contributed by Duncan Fremlin, RE/MAX Hallmark Realty Ltd.duncan@morethanahome.ca When the pandemic hit, my work as a Realtor wasn’t affected since it was declared an essential … [Read More...]

spring-cover

Spring 2020 Issue

SO LONG SARAH! Sarah Cook, our publisher for the last two years, has taken on a new opportunity. Sarah will infused some new life into the Parliament Street News, got the Instagram going and developed … [Read More...]

randy-brown-parliament-Streeet-news

The Excellent Festival

Over the past 31 years, Randy Brown and 25 members of the Cabbagetown Art & Crafts (CA&C), which is an association of resident artists, have organized the sale in Riverdale Park during the … [Read More...]

bob-mcniven

Lives Lived – Bob McNiven – 68

Contributed by Duncan Fremlin -- Bob McNiven, musician and singer,  harmonizer, songwriter and incurable romantic was born in Pennsylvania on May 24, 1952 and died at home in Toronto on May 4, 2020 of … [Read More...]

bh2

GETTING TO KNOW YOU

Contributed by Anita Bostok & Norman Hathaway -- Cabbagetown is a neighbourhood of beauty, heritage, cultural diversity and inclusion. Anita and Noman are proud to contribute this regular feature … [Read More...]