The Matrimonial Home: Spousal Buyout or Sell,  or Keep

Rights of spouses to the matrimonial home
  • Buy out your spouse, Sell or Keep

  • The matrimonial home may be a property that is owned outright by either or both spouses, or it could be a rental apartment.

  • Ownership of the home is regarded as joint. It would not matter that they did not contribute equal shares to the purchase of the home.

  • All that matters is that the purchase was a joint effort.

  • If joint, both spouses are still entitled to share the value of the property.

  • Regardless of who actually or legally owns the home, both spouses have an equal right to live in it.

  • The concept of the matrimonial home does not apply to partners in a common-law relationship.

  • The matrimonial home is given special treatment, and you cannot deduct the pre-marriage property value as you would with other assets.

Rights of spouses to the matrimonial home
How to buy out your spouse

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Ken Maynard CDFA, Acc.FM

I assist intelligent and successful couples in crafting rapid, custom separation agreements that pave the way for a smooth transition towards a secure future. This efficient process is achieved in about four meetings, effectively sidestepping the excessive conflicts, confusion, and costs commonly linked to legal proceedings. Clients have the flexibility to collaborate with me either via video conference or in-person through a DTSW associate at any of our six Greater Toronto mediation centers, located in Aurora, Barrie, North York, Vaughan, Mississauga, and Scarborough.

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