1-877-797-9411
Contactez un avocat
DC Logo F-no-tagline
DC Logo F-no-tagline

Can the FI seize the house even though I am part owner?

Fill out the form below to receive a no-obligation consultation

  • This field is for validation purposes and should be left unchanged.

Anonymous Asked:

I have been separated (not legally) for over two years now. My spouse and I live separately. She is presently living in the home which is in both names. She has recently advised me that her financial institution (FI) is threatening to seize the house because she has stopped making payments on her credit card.
My question is, can the FI seize the house even though I am part owner? The credit card is in her name only. What are my responsibilities in this matter? To be honest I never knew she owned a credit card. She only worked part time a few years while we were together therefore I was surprised she was eligible to get credit.

Expert Comment:

Subscribe
Notify of
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Andrew Heft
5 years ago

Review of all of the financial documents would be needed to give a more exact answer but on principle the financial institution can only seize property that belongs to your ex-spouse.

However, if you are married and if the FI can prove that the debt was incurred for the needs of the family then you can be held solidarily liable for the debt with your spouse.

That does not mean that you lose all recourse against your ex-spouse in such situations and would recommend you consult with a lawyer to evaluate the proper course of action applicable to your situation.

Latest Questions Asked:

DC Icon

Mutual divorce

What is the process & conditions of mutual divorce in Toronto & how much time it takes ?

DC Icon

Stock calculation during a divorce

Hi there, I have a question about calculation of stocks during separation. for example prior to marriage I had 100 shares of company X with a value of $1000 ($10 per share). At time of separation I have 200 shares of stock X worth $8000 ($40 per share ...

DC Icon

Can I divorce my spouse who lives in another country

My partner and I are amicable in getting a divorce, nothing to negotiate, she resides in another country and is not planning to return to Ontario. I'm wondering if there is a possibility to file forms online, or must I send the paperwork overseas and h ...

DC Icon

Forcing my spouse back to work when we separate

My wife has been stay at home mom for over 9 years of a 17 year marriage. I've wanted her to go back to work but she has found every reason not to go back. We are nearing separation and my income alone won't support 3 kids and 2 homes. We go into debt ...

DC Icon

I got married in Toronto and divorced in Mexico City. Do I have to register my divorce in Toronto?

I got married in Toronto to my Mexican ex-husband and we divorced in Mexico City in 2009. From what I understood from the divorce proceeding, the judge ordered the court to inform the Ministry of Foreign Affairs to notify the Canadian authorities of my ...

DC Icon

RESP

How is the remaining contribution room of a child's RESP shared (assuming an RESP is started but contributions are less than the maximum $50k per beneficiary) if no stipulation was made in the separation agreement? (Note: also assuming each parent cont ...

See All Questions
magnifiercrosschevron-down
1
0
Would love your thoughts, please comment.x
()
x