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When spouses separate, they will need to divide their assets and debts – this is called “net family property”. If there is a matrimonial or family home in the net family property, and it has to be sold or refinanced, the net sale proceeds or refinancing funds are only one part of the division of […]
READ MOREA separating couple may wish to jointly hire an appraiser or real estate agent in order to determine the value of the matrimonial home. A certified real estate appraiser’s valuation will be more accurate, but it will be more expensive to obtain, whereas a real estate agent’s letter of opinion will reflect a fair market […]
READ MOREAfter a family separation, both spouses also have a right to live in or “occupy” the matrimonial home. If one spouse is able to buy out the other spouse’s equity in the home, then they may be able to stay in the home. However, if neither spouse is able to afford to buy out the […]
READ MOREDepending on whether a couple is married and considering a divorce or in a common law relationship, their rights will differ. Common law spouses are not married, and therefore do not have the same right to division of property or occupation as married spouses.
READ MOREOften the biggest family asset to be divided during a separation is the house. In the case of a marriage breakdown, the family home(s) or marital home where the spouses ordinarily lived is called the “matrimonial home”.
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