At Divorce is Simple we will help you understand your rights and obligations, with regards to the law governing the sale of the matrimonial home. Selling the matrimonial home is a very emotional time and sad time for all parties. Your family home may be the most valuable asset that you own, it is full of memories, good or bad. Fortunately, there are some steps that couples in Canada can take if they find themselves facing this difficult decision. Let’s look at some of those options in more detail.
The matrimonial home is treated differently when dividing assets on separation. Under the Family Law Act, the full value of a matrimonial home must be shared upon separation. This forms an exception to the normal rule that applies to the division of other matrimonial property, i.e., that on separation each spouse is entitled to deduct the marriage-date value of any property.
The First Option – Negotiation
The first step is for both spouses to sit down and negotiate an agreement regarding the sale of the matrimonial home. This is often the best option since it allows both parties to come to an agreement that meets their individual needs and concerns. However, negotiation is not always possible or practical depending on the circumstances and dynamics between both spouses.
The Second Option – Court Order
If negotiation fails and one spouse still wants to sell the matrimonial home, then a court order may be necessary. In Canada, either spouse can make an application for a court order requiring that the matrimonial home be sold or partitioned (i.e., divided). The court will consider several factors before making its decision including: current market value of the property, financial need of both parties, potential impact on any children involved in the divorce proceedings, etc.
The Third Option – Mediation Services
A third option is to seek out divorce mediation services in Ontario from a qualified professional who can help facilitate negotiations between both parties. This option offers many benefits as it allows both spouses to communicate with each other in a safe and neutral environment while being guided by an experienced mediator who understands how divorce proceedings work and what it takes for two people to come together and reach an agreement that works for everyone involved. This can be particularly helpful when emotions are running high or if communication between both parties has broken down completely.
Why deplete your most valuable asset by spending your hard-earned cash on the legal costs when the reality of selling the matrimonial home boils down to three options available to you and your spouse regarding the home:
You can buy out your spouses’ share in the home and remain in the home;
Your spouse can buy out your share of the home and he/she can stay in the home;
You and your spouse can put the home up for sale and divide the equity in the home.
Making decisions about selling a family home during a divorce can be complicated and emotionally charged but with careful consideration of all available options—negotiation, court orders or mediation—couples can reach an amicable solution that works best for them while maintaining their dignity and respect throughout the process.
Let’s keep it Simple, you know your rights why waste emotional energy and drain yourself financially on something that you cannot control. Call us today at Divorce is Simple for a simple way to end your marriage using our Divorce Mediation Services here in Ontario, Canada.
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Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Sell Your Home & Real Estate
Psychotherapy
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
Divorce Mediation Ontario
Family Law Mediation
Uncontested Divorce Ontario
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