De Krupe Law
Hire Matrimonial Home Lawyers for any Family Law Considerations
One of the most emotionally charged and financially significant aspects of any divorce or separation process revolves around the handling of the matrimonial home. Our committed team of experienced lawyers is here to offer the expertise you require to navigate this intricate and emotionally nuanced domain of family law.
What is a Matrimonial Home?
In legal terms, a matrimonial home is a couple’s main residence at the time of separation. The matrimonial home holds a unique status within the legal framework surrounding divorce and separation and Its division is subject to special rules and considerations.
Exclusions and Exceptions
Unlike most other assets, the matrimonial home does not typically qualify for exclusion from the net family property, even if one spouse owned it before the marriage. Any increase in the home’s value is usually considered shared property.
Generally, money received as a gift or inheritance by either party and subsequently integrated into the matrimonial home will be exempt from the exclusion that applies to such assets during the calculation of net family property and equalization payment.
The Unique Status of the Matrimonial Home
While other properties can be subject to equalization, the treatment of the matrimonial home typically diverges when it comes to asset division. Until a formal agreement or court order is reached, both parties typically have an equal right to reside in the home, irrespective of property title ownership.
Though both spouses have an equal right to occupy the home, the title ownership may impact the matrimonial home’s division or sale. The well-being of minor children residing at the matrimonial home is also a significant consideration, often affecting decisions about possession and sale of the property.
The economic standing of both spouses can influence the division, particularly if one party is financially dependent on the other. Finally, the court may issue temporary or long-term orders concerning the home’s occupation, possession, and sale.
Sale of the Matrimonial Home
If both parties agree, or if ordered by the court, the matrimonial home may be sold, and the proceeds divided. Various factors, like mortgage obligations, maintenance costs, market conditions and occupational rent, will be taken into account. The majority of guidelines regarding the matrimonial home are usually outlined in the separation agreement. If both spouses come to an agreement, options for the matrimonial home may include:
- Sold;
- Exclusive possession order may be issued;
- Home may be mortgaged.
As emphasized previously, it is paramount for spouses to come to an agreement, as none of these actions can be executed concerning the matrimonial home without both parties’ consent. In cases where an agreement cannot be reached, the family lawyers at De Krupe Law will exert their utmost efforts to negotiate terms that are favorable to both parties, whether through litigation or alternative means.
Can Spouses Have More Than One Matrimonial Home?
Yes, having more than one matrimonial home, such as a primary residence and a vacation property, is possible, both subject to the same legal considerations.
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How We Can Help
Understanding the specific legal implications surrounding the matrimonial home in the context of divorce or separation is crucial for protecting your rights and securing a fair settlement. At De Krupe Law, our experienced lawyers are well-versed in negotiating favourable terms concerning the matrimonial home. With deep-rooted knowledge in real estate and family law, we ensure that all regulations and exceptions are considered in your case.
Our client-centered approach means we take the time to understand your individual situation, concerns, and goals, offering personalized legal solutions. We provide comprehensive advice, from whether to sell the home or how to partition assets, tailored to your unique circumstances.
When you choose De Krupe Law, you can navigate the intricacies of matrimonial home matters with confidence, knowing that you have the support of experienced legal professionals by your side.
To schedule a comprehensive and personalized consultation, please reach out to us at (416) 901-9344.
