We have a matrimony agreement stating whats his is his and what hers is hers. No support, no going after each other. But we have 2 joint debts. On a line of credit which a large sum of money was withdrawn from after separation, and we have a boat pkg. loan. Boat has been in spouse possession from day one i have no interest in it all i want is my name removed from loan.
I want a divorce since its been 2+ years. How do i proceed? How can i get the 2 joint debts resolved? Can i put it in the divorce application?
Hi, I had filed for a divorce in court as my spouse and I were unable to reach an agreement and he was being non-cooperative in terms of trying mediation. He filed an answer to my divorce application. In the last few months, we have been able to reach ...
Divorce is a challenging process, and it becomes even more complicated when there are suspicions of hidden assets. In Ontario, as in many jurisdictions, spouses are required to fully disclose their financial situation to ensure a fair division of prope ...
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Divorce is a life-altering event that can be emotionally draining and legally complex. When a divorce becomes contested, both spouses cannot agree on some or all of the key issues. This can lead to more significant challenges, as the court has to step ...
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Typically, assets and debts are addressed at the same time. There is no jurisdiction in family law to reassign liability for debts. On settlement, it is strongly advised to remove your name from the debt or assume the debt upon receipt of money payment from the other party, but in any event severe the financial responsibility for the debts. This was not done in this situation. You should have made great effort to ensure that all aspects of your financial affairs were unwound. To remove your name, you need to ensure that the other party may qualify to take over the debt on his own and also determine an amount to be paid in satisfaction of him doing so concurrently if he were to take over the debt and your name removed. You may include the terms relating to the settlement into a divorce order, although that is not necessary.