What amount is used for the mortgage payout?

Posted in Barrie, Location, Ontario, Property by Questions on March 2, 2015

I have lived in the Matrimonial home since separating from my ex in May 2012. I have paid all PIT on the mortgage since that time. I know my ex is entitled to the increased equity in the home but what amount is used for the Mortgage payout amount? Date of separation payout or does he get credit for every payment I make?

1 Expert Comment

  1. On March 2, 2015 at 9:43 am
    Andrew J. Kania, LL.B., LL.M. said:

    It is important to realize that when one divides property (known as the “equalization of net family property”) all assets and debts are taken into consideration. When making these calculations the ownership of the matrimonial home matters. You have not noted whether the home is jointly owned or owned by you. This will affect the answer to your questions. It is possible that your husband will not be entitled to increased equity from the home, thus this assumption should not be made. I recommend that you telephone me at 866-557-3222 for a free consultation, and once I have asked you a number of questions I can provide you with guidance.

    (The information provided above is general, not legal advice, as circumstances vary from case to case. As well, generally speaking, the above information relates to Ontario law. Thus, if you wish legal advice that you can rely upon for your specific case, or if you are making inquiries where Ontario law may not apply, please contact Andrew Kania for a free consultation).

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