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

gallery-arcturus

Gallery Arcturus Cover

Ed Drass is a former writer for daily newspapers who now acts as guide for   visitors to Gallery Arcturus, a not-for-profit contemporary art exhibition centre funded and operated by The Foundation for … [Read More...]

PSN22-aug-cover

Hello Readers

Coming out of the summer, our September edition can always be a toss-up. We usually feature all the Cabbagetown festival stuff...but the Bia has something exciting planned. We received some great … [Read More...]

duncin-fremlin-gordon-sinclair

(no title)

Maybe it’s because I’m the son of a man born in 1906, shortly after Queen Victoria died.  Dad was sired out of a mixed marriage between a Scot from Inverness and an Anglo from Kent.  There’s something … [Read More...]

ward11-university-rosedale

Why Not Pete Lovering?

Contributed by Pete Lovering , PSN Publisher and now officially a politician. Although many people have suggested I run in the Toronto Centre over the years, I have decided to throw my hat in the ring … [Read More...]

rogerandco

Fall Find – Rogers & Company

Contributed by David Lavictoire, Brand Associate, Rogers & Company  The days might be starting to shorten, but it’s still too early to break out the parkas! Celebrate the end of summer with these … [Read More...]

wallied

Sunday in the Park – August 14th

Contributed by Walied Khogali Ali, Co-Chair - Community Building Working Group - SDP. On Sunday, August 14th 2022 - thousands of residents attended the beloved community celebration known as Sunday in … [Read More...]

parkscape-3

If it Sounds Too Good to be True

Contributed by Virginia Gallop, Executive Director, Cabbagetown BIA. Photo credit Marion Voysey Photography. We all know that old adage, and how rarely does it ever fail to be the case. I’m not … [Read More...]

Conciliabule Berkeley1

GETTING TO KNOW YOU

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

Tony-Lafazanis

Suing A Loved one

Contributed by Tony Lafazanis www.TLLawCanHelp.com In Ontario, there seems to be a taboo about bringing a legal claim against a loved one. Litigation is seen as conflict, so bringing a claim against … [Read More...]

daycare-training

Daycare Connection

Partnering with Caregivers and Families to Provide Access to the Canada-Wide National Childcare Plan.  At Daycare Connection one of the comments we hear is how challenging navigating the childcare … [Read More...]

don-vlley-art-club

Nice to get feedback

Hi Peter, Although my email to you has been slow in getting out, the tardiness does not reflect our immense gratitude to you and the Parliament Street News. We appreciate your willingness to work … [Read More...]

fatoush1

Getting To Know you

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

cabbagetown-farmers-market

Cabbagetown Farmers Market

Contributed by Ellie Ruggles, Market Manager, Cabbagetown Farmers’ Market. - Mark your calendars! The first market day for the Cabbagetown Farmers’ Market will be Tuesday June 14 from 3pm – 7pm, rain … [Read More...]