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Divorce and home ownership

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Anonymous Asked:

Just wondering if an ex is entitled to any proceeds from the house even after they have remove their name off the home ownership and mortgage? It wasn't stated on our seperation agreement so I am not sure if I have to pay her out after divorce if I decide to keep it and sell later will I have to pay her then? She never put any money into the house at all but it was considered the matrimonial home.
I'm wondering if I should get her name off now and keep the house will I have to pay her out even though she hasn't lived on it for a year.

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Andrew J. Kania, LL.B., LL.M.
6 years ago

In order to answer the above question I would need to read the signed Separation Agreement. Legally married spouses are entitled to an equalization of net family property under the Family Law Act. This means that we look at both of your assets (like a home) and debts on marriage date and separation date. Legal “deductions” and “exclusions” are factored in, and the remainder of the property is equalized. A jointly owned matrimonial home must either be sold or bought out by one of the spouses. It sounds like you have already negotiated some or all of the property split in the Separation Agreement, which is why I say that I need to read the Separation Agreement to provide you with a clear answer. I will add that the fact that a legally married person no longer lives in a jointly owned matrimonial home is irrelevant to enforcing their property rights, if they have not waived their rights in a Separation Agreement, or they have not yet been determined by the Court.

(The information provided above is general, not legal advice, as circumstances vary from case to case. Thus, if you wish legal advice that you can rely upon for your specific case, please contact Andrew Kania for a free consultation).

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