I am trying to understand how does net family property being calculated if part of money used toward purchasing a matrimonial home is debt.
Say today I bought a home valued at 320k. I only have 300k so I used home buyer program to withdraw 20k RRSP from CRA. Now I am in debt to CRA with amount of 20k.
Assume the next day I got married then divorced a day after. Theoretically, I should split the matrimonial home I just bought with my spouse. My question is whether it is 320k or 300k that will get split between us.
Say today I bought a home valued at 320k. I only have 300k so I used home buyer program to withdraw 20k RRSP from CRA. Now I am in debt to CRA with amount of 20k.
Assume the next day I got married then divorced a day after. Theoretically, I should split the matrimonial home I just bought with my spouse. My question is whether it is 320k or 300k that will get split between us.
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