For many separating couples, the family home is the most emotional and financially significant asset. Whether you want to stay or sell, understanding your rights and options under Ontario law is essential. This guide explains what the matrimonial home means legally, what happens during divorce, and how to make a financially sound decision.
How Ontario Law Treats the Matrimonial Home
The matrimonial home receives special legal protection, affecting how it’s divided and occupied.
Options for Staying, Selling, or Buying Out Your Spouse
You might buy out your partner, sell jointly, or negotiate exclusive possession.
Financial Considerations When Keeping the Property
Mortgage qualifications, refinancing, and long-term affordability all come into play.
Impact on Children and Stability
Maintaining stability can support children emotionally during separation.
How Mortgages, Refinancing, and Debt Factor In
Lenders may require proof of income, support, or agreements for refinancing.
Valuation and Appraisal Essentials
Accurate appraisals help ensure fair buy-outs or sale decisions.
Tax Implications of Selling or Transferring Property
Capital gains and exemptions may apply depending on ownership and use.
Negotiation Strategies for the Home
Focusing on fairness and long-term financial security leads to better outcomes.
What Happens If Neither Spouse Can Keep It
Selling may be the only viable option when affordability or cooperation is limited.
When the Court May Intervene
Courts may make orders when spouses disagree or safety issues exist.
Deciding whether you can keep the family home can feel overwhelming, but the right information makes the decision clearer. Understanding your legal rights and financial realities helps you choose the best path for your future.
Join our free webinar, Divorce and the Family Home: Can You Keep It?, on February 3 at 5PM ET to explore your options.
