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

St Jmaes Town

Flavours From Our Neighbours

Flavours From Our Neighbours is a full-flavoured catering collective that is deeply rooted within the St. James Town community. Not only does the initiative help to feed the neighbourhood and generate … [Read More...]

charlis-freewheels-1

Charlie’s FreeWheels

Contributed By: Reagan McSwain. “Today was epic! The sun was merciless and the winds wild and deranged. The pace I made was really fast with the heavy wind on my back. I endured the scorching sun and … [Read More...]

bostok-hathaway

GETTING TO KNOW YOU

Cabbagetown is a neighbourhood of beauty, heritage, cultural diversity and inclusion. Anita and Noman are proud to contribute this regular feature where you get to know the people and businesses that … [Read More...]

MM_ParliamentNewsImage_web

“COVID-19: A Positive Return”

Contributed by Momentum Montessori. As many of us continue to work from home, there is a percentage of the population who have physically returned to work. Despite many uncertainties of how businesses … [Read More...]

yael1

Yael Gottesman

“ I knew I wanted to be a writer since I was a little girl. Diaries and journals, and stories accumulated in my room for years. Among them, a lengthy letter to the editor of the “Chicken soup for the … [Read More...]

weenen-general-home-0ffice

Your Home Office!

Contributed by Kathy Flaxman. Working at home can be bliss: the freedom and flexibility to get the job done on your own terms at your own speed, without commuting and with access to a full … [Read More...]

DWF-Grave-stone-copy1

I have certain expectations

Contributed by Duncan Fremlin. I read the obituaries every day.  They’re the only part of the newspaper I can rely on to be truthful.  I even read the obituaries in my hometown newspaper in Sault Ste. … [Read More...]

OPEN-HOUSE-homelife1

Considering an Open House?

Contributed by Gerald Michaud, Broker - Manager, HomeLife/Realty One Ltd., Brokerage. As of August 12, for all regions in Ontario, the Province has lifted the prohibition of in-person open houses.  … [Read More...]

Create, Listen, and Experience

Jobim Novak is a 25-year-old writer and spoken word artist. He is also a mental health advocate and speaker who has been a friend of Bell Let’s Talk for the past three years. Trained as a Child and … [Read More...]

missionbonita-and-friends

“MISSION BONITA”

Children’s web series Premiers on youtube. Toronto, Ontario - “Mission Bonita” will make its YouTube debut at 11AM, Tuesday, August 18th.  The highly anticipated children’s web series comes from the … [Read More...]

Maples-on-Sumach

Maples on Sumach?

Contributed by Randy Brown. There is an exceptional feature in Cabbagetown which mostly goes unnoticed– the chestnut trees on Sumach. This line of chestnut trees runs beside the Necropolis north from … [Read More...]

dee=hope

METAPHORICALLY TRANSFORMED

Contributed by Erdine (Dee) Hope, Toronto Writers Collective - My name is Dee Hope. That is what I am called here in the downtown core, where I grew up and worked for the past fifty years but is now a … [Read More...]