THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Tuesday, August 23, 2011

Selling a house and divorce?

FAMILY LAW CHANGE UNDERSCORES NEED FOR EXTRA PLANNING FOR SALE OF FAMILY HOME DURING DIVORCE WARNS ONTARIO REAL ESTATE ASSOCIATION!

TORONTO — Couples engaged in contested family court cases will soon have to attend mandatory information programs, which will include information about the effects of separation and divorce on families and ways to resolve their issues – including decisions about the matrimonial home – through ways other than going to court.

The matrimonial home is a home that a couple lived in at the time of their separation. In Ontario, the matrimonial home is considered a unique asset – different from other types of property – and falls under the Family Law Act.

“Selling the matrimonial home after a marriage breakdown is extremely complicated,” says Barbara Sukkau, president of the Ontario Real Estate Association. “Even if they have agreed in the settlement who gets the home, or that neither will, there are a lot of decisions and steps that must continue to be made together on the property front,” she added.

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