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How does transfer of assets work in Quebec?

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  • How does transfer of assets work in Quebec?

    First lawyer buggered everything thing up, second lawyer not communicating. Built home myself, found someone later, got married with about $55,000 owing on mortgage. Was the financially responsible one investing in RRSP's etc. Spouse got herself layed off with a nice fat severance. Majority to her RRSP taxfree. Played stepfather to her daughter, but didn't adopt. It is likely I will have to pay her due to mortgage paid off during 5 year marriage, increase in value of home and my RRSP. I know I'm entitled to have of her severance put into her RRSP. When the total difference is calculated, does the money come from cash, RRSP of equal value? Does the person receiving have any choice on payment, e.g. RRSP that's not cashable or transferrable to a different financial institution? Tax season closing soon. Cashed in an investment from before marriage to help pay off mortgage after her layoff, but deposited amount into a joint account, is this money now half hers?Thanks for any help.

  • #2
    the money you deposited in the joint account became joint money. Sorry.

    As for the rest of it i am figuring that if her RRSP is not cashable then your share could come out of her her share of the house.

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