Splitting a home for a divorce

[Brad]

If I get married and my wife moves into my house with me (let's say the house is in my name and I bought the house before I even met her), and we get divorced 10 years later, does she get half the house? Assume that I made all the mortgage payments myself and she contributed nothing toward the equity of the house, though she may have paid other bills like electricity or cable.

I have found conflicting info on this, some info that says that the house is called the matrimonial home which means it gets split 50/50 and other info that says anything owned by one partner before entering the marriage is considered excluded property and stays with that partner after a divorce. Obviously both cannot be true. Can anyone provide more details? I am in Ontario if it makes a difference.

[Anna Michele]

A couple of things
Not so seriously if it was me im taking half whether it was paid in full or not. If we divorce your on the street not me.
All kidding aside its a crazy world when we are worried about divorce before we even marry.
For the most part people get married because they love eachother are commited to eachother and are going to build a life together. I think this would most likrly be the arguement raised in a court of law. At theveryleast you would be responsible for relocation fees and any readjustment costs.

Don't quote me but after a certain number of years together in the same residence 2-5yrs???? You are common law and even at that point there becomes a reasonable amount of ownership of both parties.
These are not facts just my opinion.

[bargain_hunter_lola]

From my understanding the primary place of residence is considered "The Matrimonial Home" and is equally divided regardless of who bought it originally or how much each party contributed to it.

Perhaps you could seek legal counsel in your area to be sure.

HTH


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[lecale]

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[Tweets77]

All I can say is get a prenup done by a reputable lawyer. My mother moved an elderly male friend into her home. He claimed for the company.....they never married cause he still was legally married. After some time of me telling her that if he died tomorrow, his kids would have a claim on 50% of her house and her not believing me, I took her to her lawyer and asked her lawyer to break it down for her so that she wouldn't end up either homeless or living with me. Best $450 that I ever spent!

[Ciel]

Go for a legal opinion-ask about valuation for your property and what prenuptial agreement is necessary to protect your investment before marriage. Find out what might be the pros and cons of having this agreement should the marriage later run into separation or divorce or kids come into the picture.
Common-law relationships (12 months or more living together per CRA) do not give the same rights to each partner regarding property as marriage does. The name on the property title protects the purchaser. However, if both persons buy the property together and register title under both names, then there is an asset to contend with.

Here's an article about what can happen when people move in together after buying a house together but then break up. Lawyers get involved. http://www.thestar.com/business/pers...r_to_sell.html

Elle Canada had a money article this summer or late spring about what can happen when people move in together without a legal agreement beforehand. If the woman owns the residence but the man contributes to the residence's bills, he could argue he was helping with the residence's mortgage, thus acquiring some ownership in a property not in his name. Found the Elle Canada article link referring to a cohabitation agreement.
http://www.ellecanada.com/relationsh...ting/a/79319/2

http://www.search.e-laws.gov.on.ca/e...&context=#BK63
Family Law Act of Ontario

[lizzie bargain]

I agree with a prevous poster- speak to a lawyer in your province of residence because I think there are variations depending on where you live. My friend just separated from her common law spouse of 20 years( they had 3 children) and he truly believed because they were not married and only his name was on the house and their rental property that they were his. He is finding out in court that he will have to divide the assets with his ex, pay child support and pay spousal support as she had been home caring for the kids and was not working. As well she was named as a director or partner in his consulting business( likely to be able to income split a bit and save some tax dollars over the past 20 years). However that may now be coming back to bite him in the butt too. Currently, while things gets sorted out in court he may not sell either property, the ex and the children have court granted exclusive use of the family home and he pays child and spousal support.

[Darth Penguin]

As in anyting which will affect your future, talk to a professional rather than asking for important advice on a message board.

In this case a lawyer. You will need to write down some of the questions raised on this thread especially regarding children and the effect on thee house if one partner stops working for a period of time to look after minor chldren and possibly even in the event of looking after elderly parents.

Make a note of the lawyer's responses too. That way, when you review the meeeting you can then ask for further clarifaction of the answers.

As ever, always be wary of anyone who claims to be a lawyer or other professional giving advice on the internet. It's best to get recommendatons for a family member, friend ,work collegue or some-one you know IRL.

[lecale]

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[Colsgirl]

I am so glad we have saved and bought everything together, makes things much easier!

So, if you are saying that it is your home and that is the way you want to keep it - then you would pay the mortgage, home insurance (why would she pay the building insurance when it isn't hers?) and she would only have to pay half the untilities (you live there too) and you would also have to pay the property tax!!

My gut feeling is that if you are thinking like this and planning for what happens if you break up and you aren't even living together yet, you aren't with the right person. I would say if you have any doubts, don't do it.

Saying that, if I was ever in the situation where I was single again, I wouldn't want to move into any house that I didn't co-own. I would do what friends of ours did, she bought 50% into his existing home and it was put into joint name. I like things even and shared and I wouldn't want to be living somewhere where I had no say.

Just my 2 cents!

[orton0140]

bought everything together.You will need to write down some of the questions

[Shwa Girl]

@Brad
You are in Markham
You get one freebie session with a lawyer in Ontario in your lifetime
You can use your freebie to ask the lawyer this question
You can get a recommendation for this lawyer from The Law Society of Upper Canada

http://www.lsuc.on.ca/faq.aspx?id=1034

Law Society Referral Service (LSRS)

The Law Society Referral Service is a public service of the Law Society that helps people find a lawyer or paralegal. When you call the LSRS, we will provide you with the name of a lawyer or paralegal who will provide a free consultation of up to 30 minutes to help you determine your rights and options. You can access the service by calling:
1-800-268-8326 or 416-947-3330 (within the GTA).

[LisaLisaBoBisa]

Let me ask you this..

Let's say you owned the home for 10 years prior to getting married but presumably had been dating for a couple of years before getting married.. Now let's say you were married for 15 years. Your wife worked, or didn't but regardless made a contribution to the household in some way (otherwise the scenario is way too far fetched). Why would anyone expect that 15 years of contribution wouldn't warrant equal separation of property value?
If you were working and she was a SAHM raising your children she is entitled to be compensated for that. Unless of course you would like to calculate what childcare would have cost had she not stayed at home with children and pay her out that way?

A few years ago - maybe 5-10 CPP made a change that allows for SAHM to claim something or other..

Was she working and just banking a crap load of money while you paid for everything? Well guess what? That's not allowed either - so the 100k she banked has to be divided..

My point is that every scenario is different but the same - a 50/50 divide but for inheritance.. That is as far as I know the 1 thing that you get to keep 100% of..

Only in divorce is "sharing" seen as a travesty.. Otherwise everyone loves sharing.

[Brad]

Yes I already know any appreciation in the value of the house that occurred during the marriage would be split 50/50.

What I am not clear about is whether the equity in the house I had before the marriage would also be split.

Let's say I put 100k down on a 400k house. Then I get married, and 10 years later divorce, but during those 10 years that 400k house appreciated to 600k. That 200k appreciation would obviously be split 50/50, as would anything we paid into the mortgage during the marriage. But what about that initial 100k downpayment, is that fully mine or is that also split?

[lecale]

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