User Tag List

Page 1 of 2 1 2 LastLast
Results 1 to 15 of 26
Like Tree75Likes

Thread: Splitting a home for a divorce

  1. #1
    CaLoonie Brad's Avatar
    Join Date
    Mar 2012
    Location
    Markham
    Posts
    145
    Likes Received
    126
    Trading Score
    0 (0%)



    1
    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.
    This thread is currently associated with: N/A
    E-mail


  2. #2
    Canadian Guru Anna Michele's Avatar
    Join Date
    Jan 2012
    Location
    SOUTHERN ONTARIO
    Posts
    19,927
    Likes Received
    27845
    Trading Score
    548 (100%)




    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.
    Last edited by Anna Michele; Sat, Nov 8th, 2014 at 11:35 AM.
    Shwa Girl and ticul like this.
    Home Sweet Home

  3. #3
    Mastermind bargain_hunter_lola's Avatar
    Join Date
    Aug 2009
    Posts
    20,728
    Likes Received
    16251
    Trading Score
    726 (100%)




    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


    Sent from my iPod touch using Tapatalk
    Shwa Girl, ticul and Anna Michele like this.


  4. #4
    Canadian Genius
    Join Date
    Mar 2010
    Location
    ON
    Posts
    6,063
    Likes Received
    13033
    Trading Score
    51 (100%)




    .
    Last edited by lecale; Sun, Jan 18th, 2015 at 09:32 AM.

  5. #5
    Canadian Genius Tweets77's Avatar
    Join Date
    Jan 2009
    Location
    N.W. Ontario
    Posts
    5,203
    Likes Received
    6282
    Trading Score
    156 (100%)




    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!

  6. #6
    Dancing bean paste bun Ciel's Avatar
    Join Date
    Jul 2009
    Location
    Ontario
    Posts
    10,841
    Likes Received
    12306
    Trading Score
    12 (100%)




    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
    lecale, Shwa Girl and ticul like this.
    2017-Year of the Rooster

  7. #7
    Smart Canuck
    Join Date
    Dec 2009
    Location
    Calgary
    Posts
    2,371
    Likes Received
    12536
    Trading Score
    1 (100%)




    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.
    Ciel, lecale, Shwa Girl and 2 others like this.

  8. #8
    Sith Lady and Cool Kid Darth Penguin's Avatar
    Join Date
    May 2011
    Location
    In a Taco truck on a street corner near you
    Posts
    13,398
    Likes Received
    14159
    Trading Score
    20 (100%)




    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.
    Shwa Girl, ticul and Anna Michele like this.


    Short answer : no Long answer : NOOOOOOOOOOO!

    Welcome to the Penguinocracy..One Penguin, One vote..I am The Penguin..I have the One Vote

  9. #9
    Canadian Genius
    Join Date
    Mar 2010
    Location
    ON
    Posts
    6,063
    Likes Received
    13033
    Trading Score
    51 (100%)




    .
    Last edited by lecale; Sun, Jan 18th, 2015 at 09:32 AM.
    lucy16076 and ticul like this.

  10. #10
    Smart Canuck
    Join Date
    Jul 2008
    Posts
    3,114
    Likes Received
    1134
    Trading Score
    8 (100%)




    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!
    Earn points (you can exchange for $$) with Achievemint when you exercise, link to your Fitbit and other devices/apps: https://www.achievemint.com/signup?referral
    =1&utm_campaign=VgnXEUE8rC4=


    Open an account with Tangerine (ING) using my ORANGE KEY: 44683723S1. www.tangerine.ca

  11. #11
    CaNewbie orton0140's Avatar
    Join Date
    Nov 2014
    Location
    San Francisco, CA 94105
    Posts
    5
    Likes Received
    2
    Trading Score
    0 (0%)


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

  12. #12
    Mastermind Shwa Girl's Avatar
    Join Date
    Dec 2010
    Location
    Oshawa
    Posts
    21,105
    Likes Received
    33412
    Trading Score
    7 (100%)




    @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).
    Ciel, ticul and Anna Michele like this.
    Ontario votes in 2018. Make your vote count. Remember your hydro and gas bills.

  13. #13
    Smart Canuck LisaLisaBoBisa's Avatar
    Join Date
    Jun 2007
    Location
    Toronto
    Posts
    2,643
    Likes Received
    1632
    Trading Score
    80 (100%)




    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.

  14. #14
    CaLoonie Brad's Avatar
    Join Date
    Mar 2012
    Location
    Markham
    Posts
    145
    Likes Received
    126
    Trading Score
    0 (0%)



    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?
    Ciel likes this.

  15. #15
    Canadian Genius
    Join Date
    Mar 2010
    Location
    ON
    Posts
    6,063
    Likes Received
    13033
    Trading Score
    51 (100%)




    .
    Last edited by lecale; Sun, Jan 18th, 2015 at 09:35 AM.
    Colsgirl and Ciel like this.

Page 1 of 2 1 2 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •