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

What amount is used for the mortgage payout?

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 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?

Expert Comment:

Subscribe
Notify of
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

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).

Latest Questions Asked:

DC Icon

Simple Divorce

We have already settled support and property division so it is just a matter of getting a divorce. He wants to serve me with papers, or have me go to his lawyers since I am not protesting the divorce do I have to do anything and will it cost me money? ...

DC Icon

Is the 6 year rule for settlement of home and assets written in stone or can it be extended?

My husband and I have been separated for 6 years this coming August. Can I ask for an extension to the time limit or can it be extended at all? If my husband who has moved out and is living with someone else and has a home together will not agree on a ...

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 ...

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