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re. Six year time limit for division of property

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  • re. Six year time limit for division of property

    <HR style="COLOR: #ffffff; BACKGROUND-COLOR: #ffffff" SIZE=1> <!-- / icon and title --><!-- message -->
    I have been separated since August 2007 which is over the six year limit. I have paid a way more than my share without a separation agreement so I pay in after tax dollars. My wife lives in the beautiful lakefront home and I live in a basement apartment of a house my parents purchased. I rent out the main floor and pay some rent to cover most of the costs of the house. I will purchase the house from my parents when things are settled with my wife. I have grown children so there are not child support issues. I am still paying debts we incurred when we were together - personal loans that we are both responsible for but she has not inclination to repay. I turned over the house on the lake to her about 2 years ago. The lake home was my dream home that my children grew up in and grew to love as well. They still have the home to enjoy along with her family. She wants to get some of my pension. I retired as a teacher a year ago last June. I have very little for myself and I want to start to rebuild my financial life. I still pay her second mortgage. I made good money as a teacher however she makes more. My pension is worth much more than hers. I would like to get on with rebuilding my life. The six year limit mentioned above and below is critical to my situation. I went to a Family Law Information Centre and the lawyer there did not know what I was talking about when I mentioned this six year time limit and this made me nervous. I had a consultation previously with a lawyer and he mentioned the six year limit. I have paid much more than my share and I don't want to go through expensive lawyer and court costs to prove that. I have not retained a lawyer and have made her lawyers deal with me. When you both have a lawyer then all your conversations with your lawyer, communications between lawyers etc. all have very high costs. I have requested that we go to arbitration all along but she refused. You come to the same results with tens of thousands less cost. My question is this. Does this six year limit mean that I do not have to pay any more and we both go on our own way? Do I have to worry about more litigation? Her lawyer has just called me this past week. Should I now get a lawyer and wrap this up? Do I have to worry about her taking some of my pension. She just received a large inheritance and will be comfortable. I always want to do more than my part however I need to have a life as well.
    Cheers

  • #2
    This is what I was able to find:

    A - Division of Property - YES
    There are time limits for division of property. If you and your spouse have to ask the court to decide how to divide the property you shared while you were married, there are time limits on how long after your marriage breaks down that you can do this.
    The time limits are:
    • 2 years after the date of your divorce or annulment;
    • 6 years after the day that you separate with no chance of getting back together; or
    • 6 months after your spouse dies.
    check out ontariodivorces.com

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    • #3
      Thank you HappyMomma!

      Comment


      • #4
        1 - Paragraphs are your friend.

        2 - The court can extend the period for equalization to a maximum of ten years.

        Comment

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