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Do I have to force him to liquidate the property?

Anonymous Asked:

My ex husband and I have been legally divorced since Dec 2012. He faithfully pays child support for our two children. I am now remarried. We own a property that was once our marital home and we did not make the dissolution of the property part of our divorce agreement, so that the divorce would go through faster if the house did not sell. However,he has not put the house up for sale and my name is on the mortgage, and my new husband and I cannot qualify to purchase a home of our own with my name still on the mortgage. The bank will not refinance and requires that we sell the property. My ex husband has threatened allowing the bank to foreclose on the property instead of listing it for sale. What options do I have legally in BC do I have to force him to liquidate the property. He does not owe me any equity in the home, but holds me financially 'hostage' while he sits on the property and does nothing. As well,if he allows the bank to foreclose and declares bankruptsy, how does that affect my credit, and as well the credit rating of my new husband.

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Stuart Zukerman
8 years ago

You can bring an application under the Family Law Act to force a sale of the property. If you allow him to send the property into foreclosure, that will negatively affect your credit rating for many years – so forcing the sale of the property so that the mortgage is paid off is the best route to take. The foreclosure should have no impact whatsoever on your new spouse’s credit rating (only on your credit rating).

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