Understanding Real Estate in Divorce Proceedings: A Focus on Ontario

During a divorce in Ontario, both spouses have equal rights to the matrimonial home, regardless of whose name is on the title. This remains the case until the divorce is finalized or a settlement is reached.
The entire value of the matrimonial home as of the separation date is considered in asset division, not just the increase in value during the marriage.
In certain cases, a court may grant one spouse exclusive possession of the home temporarily, impacting both parties’ living situations and financial planning.
In Ontario, asset division aims to equalize the net family property acquired during the marriage, with real estate often being a significant component.
Accurate valuation of real estate as of the separation date is essential, along with consideration of associated debts like mortgages.
If one spouse takes full ownership of a jointly held property, legal steps must be taken to transfer the title.
Facing a divorce in Ontario? Real estate division can be complex. Engage a skilled Toronto divorce lawyer early to ensure all aspects are thoroughly addressed for a fair outcome. For more at DivorceOffice.ca