Division of the Matrimonial Home and Net Family Property

January 29th, 2015 by John Schuman

Toronto family law lawyer John Schuman was recently asked the following question: “I was married for 24 years and moved into my husband’s house. All of my paycheques for all of those years went into a joint savings account. The house was willed to him and his 2 sisters and has an assessment value of $255,000.00. I am told that I get 1/2 of 1/3 of that assessment, which amounts to $55.000. My money helped pay for a new kitchen, 2 new bathrooms, an additional deck and landscaping. Is this correct?”

The residence (or residences) you lived in on the date of separation is (are) your matrimonial home.  If one spouse is an owner of the matrimonial home, he or she MUST include that interest in Net Family Property – even if that interest would otherwise have been excluded as an inheritance.  Unless there is a marriage contract, matrimonial homes are always included in Net Family Property.  Net Family Property is what you divide when you separate.  Listen to this podcast for more on how property is divided in divorce.  How your property may be divided depends on what else you own, but he has to share the value of 1/3 share with you – as you told him, is different when there is children involve and you want to have a will made for them in case of death  for that you will have to hire a  professional will writing services to make the legal procedures. For more about how matrimonial homes are always included in property to be divided, read this page and watch this video.

In any separation or divorce, there are many common mistakes that people make when they do not speak to a lawyer.  You should speak to a lawyer so you know your rights and how the law applies to your situation.  Otherwise, your ex may trick you into taking less than you deserve.  You may also want to pick up a copy of this $20-easy-to-understand book on Ontario Family Law, because it goes over property division, the matrimonial home, child support, alimony and most other family law issues so that you know where you stand.

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