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  • Forcing Sale of House

    Ex has the house (in both our names), and left me with substantial family debt (in my name). She is not willing to participate in equalization, so I cannot access the equity in the house to pay the debt. My lawyer is suggesting sale of the house, but she does not want to sell. Bank will not consider my equity in the house as collateral unless she co-signs, which she is not willing to do. Her stated aim is to drive me into bankruptcy, and she has stated she will take over mortgage payments if I declare bankruptcy, so she can keep the house. She has no interest in settling matters, as she has significant assets and a high priced lawyer. Any suggestions on how I can access my equity in the house? thanks,

  • #2
    Do you have any of her threats in writing (email perhaps?)

    The other option would be for her to buy out your share of the home if she refuses to sell it. Who is living in the house currently - you or she?

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    • #3
      Outside of take her to court, nothing.

      Has she taken on her share of the family debt? It is not your burden to carry alone any debt accumulated during the marriage, only what you brought in prior.

      If she is unwilling to negotiate or mediate, then you are forced to file a motion to the court to either a) have her buy you out of the house based on its current fair market value or b) put the house up for sale and the proceeds used towards debt and any remaining funds be distributed equally.

      You are entitled to 1/2 of the equity of the house. Although, if either of you put in personal monies from outside the marriage for the down payment, they may take that amount out of the equity pool and then the remaining be distributed.

      Ignore the noise from her and get your lawyer to act for you. If you use your ex for advice, you definitely won't be getting the advice you need.

      If she fights this you may have good arguments for her to pay your legal fees.

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      • #4
        You should be able to get a court order to sell the home. If neither of you can buy the other one out that is. It's pretty common.

        Ask your lawyer if it's possible.

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        • #5
          Thanks for the support and suggestions.

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          • #6
            Welcome to the Forum, Alfred75. :-)

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            • #7
              I'm not saying this is right but is an option...

              In a Consumer Proposal - the trustee will value and account your equity in the home. Your ex will not only have to cover the mortgage payments but will have to buy out your share of the equity to the Trustee if they want clear title.

              Know your options - Book a free consultation with a Bankruptcy Trustee.

              Benefits of a consumer proposal can be found here:


              Consumer Proposals: An Alternative to Bankruptcy in Ontario Bankruptcy Ontario: Free Information about Bankruptcy in Ontario

              .

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