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If one person owns the home that became the marital home and the to be ex choose to not be part of the renewal on mortgage and has never been on title and it can be proven that they did not contribute to value. What is the process to file for the home to be requested as excluded from marital asset division?
Several questions first - Did you own the property prior to relationship? Were you married or common law? What was the commencement date of relationship and separation date? Are there children involved? Did the other person contribute to the down payment? Did the other person ever reside in the home? Feel free to email me directly at twilson@wilsonlawgroup.ca
18 months ago
Dawn Nelson - Dawn L. Nelson, Barrister & Solicitor (Edmonton) Verified Lawyer
Generally, the family assets are not viewed in singular isolation. The totality of the family property must be considered. Assets and debts; what you own and what you owe.
There are three categories under the law: "exempt" property, "equally divisible" property, and "discretionally divisible" property. Generally, the family home would fall in the second category of equally divisible BUT the value of that home prior to becoming the family home would be exempt. There are also tax implications to consider, as a primary residence is exempt from tax when sold, but a pension or RRSP is subject tax when withdrawn, so if someone wants to "trade" one for the other, you need to figure that out, too. This is the kind of thing that needs specific legal advice about your unique circumstances. I recommend you contact a lawyer for a confidential consultation.
08 months ago
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