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Is my spouse entitled to half?

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Anonymous Asked:

Hello, I put the down payment on our house from the sale of my house. Is my spouse entitled to half when we sell our house even though our child will live with me.
Thanks

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Stuart Zukerman
5 years ago

Whether your name is on title to the current house or whether you put money down on the current house is irrelevant. The Family Law Act of BC provides that you are entitled to one half of the equity in the house (subject to each party being entitled to first be paid back whatever pre-relationship money they can prove they put into the equity in the house and the balance of the remaining equity being equally divided). Therefore – assuming you put the proceeds of your prior house into the equity of the current house (and can prove that by way of tracing the funds), then it is the pre–relationship equity that you had in “your house” that would be paid back to you out of the net proceeds of the current house before the remaining balance of the net sale proceeds of the current house are equally divided between you and your spouse.

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