Dividing assets during a separation or divorce is never easy—especially when it comes to the family home. For many couples, the home represents more than just bricks and mortar; it’s an emotional anchor, a financial asset, and often the most significant shared investment.
Understanding the Legal Framework
In Ontario, married couples typically treat the matrimonial home as a shared asset, regardless of whose name is on the title. Under the Family Law Act, both spouses have an equal right to possession until the matter is resolved. This means no one can sell or refinance the home without the other’s consent, unless otherwise ordered by the court.
Options for the Family Home
When it comes to deciding what happens to the property, there are three primary routes:
- Sell the Home and Split the Proceeds – Often the simplest option, this allows both parties to start fresh.
- One Spouse Buys Out the Other – This requires an accurate valuation and legal transfer of ownership.
- Deferred Sale or Co-Ownership – Sometimes used when children are involved, one spouse remains in the home temporarily.
Why Legal Expertise Matters
Regardless of the route taken, the property must go through a legal transaction. Even if one spouse is retaining the home, the transfer must be handled professionally to ensure the new title is valid, existing debts are settled, and the agreement is enforceable. Working with a legal team experienced in family property transfers can streamline this process and avoid costly delays.
Collaborating with Family Lawyers
A real estate legal team that works seamlessly with family lawyers—without stepping on toes—is essential. At The Aruldason Group, we focus solely on the real estate component and ensure that our work complements the legal strategy of family counsel. This approach minimizes confusion, reduces administrative strain, and delivers a smooth experience for clients.