The matrimonial home is unique. Different rules apply to the matrimonial home than to the rest of your assets.
What Is A Matrimonial Home?
The matrimonial home is the home in which legally married spouses reside on date of separation. It is governed by special rules in every respect regardless of who holds legal title to the matrimonial home.
Both spouses have the right of possession to the matrimonial home on separation. One spouse cannot require the other spouse to leave the matrimonial home in the absence of a written domestic contract providing for exclusive possession or by way of a court order granted to provide for exclusive possession.
The way the matrimonial home is dealt with in the equalization of net family property is also subject to unique rules.
I Want To Stay In My House. Can I Buy My Spouse's Share Of The House?
A home is sometimes a couple’s largest asset. Often people own their home jointly. If you and your spouse settle the matter outside of court, you can agree that one person will purchase the other’s share of the home.
If your matter goes to court, the court will not normally order one spouse to sell his or her share of the home to the other. If the parties cannot agree, the court may order that the home be sold and the proceeds be divided.
Do I Have To Leave My House?
Both parties are entitled to stay in the home unless one spouse obtains an order for exclusive possession of the home or the parties agree that one party will remain in possession exclusive of the other party. This is true even if one spouse owns the home and the other has no ownership interest in the home.
How Do I Sell The House And Move On?
If you own your home jointly, you and your spouse must agree to either list and sell the home or transfer it to the spouse who wishes to purchase the other’s share. If your spouse will not agree to sell you his or her interest in the home, you may have to get a court order to list the home for sale.
Bortolussi Family Law is located in Vaughan, Ontario and serves the Greater Toronto Area including Woodbridge, Concord, Maple, Kleinburg, Thornhill, Vaughan, Markham, Richmond Hill, Brampton, Bolton, Nobleton, Newmarket, Oxford, Orangeville, Aurora, North York, Etobicoke, Caledon, Whitchurch-Stouffville, King City, Schomberg, Mississauga, Oakville, Streetsville and Toronto.