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Old 05-04-2014, 09:21 PM
NeedAdvice78 NeedAdvice78 is offline
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Default Need Advice on Matrimonial Home Tranfer


My wife and I are going through a divorce and we are trying to resolve the separation as amicably as possible considering we have a 5 year old daughter.

I have agreed to buy her out of the matrimonial home for $40k. I have a few questions I'm hoping this forum can help with.

- Both of us are on the deed.
- I will go to the Lender and the mortgage transferred to my name, this should not be an issue
- We have a separation agreement and it indicates the 'buy-out' value and the agreement has been reviewed and signed by lawyers.
-The lender and the lenders lawyer will take care of the mortgage assumption by me

1) Once the mortgage is in my name only, can I start the deed transfer process? Is there anything else to do?
2) Does Ontario have 'Quit Claim' forms? Or does it need to be transferred via other means?
3) Do I need a lawyer for a transfer of the deed of this nature? Ie. spouse transfering to another spouse once the separation agreement has been signed; If a lawyer is not required for me to remove the spouse from the deed, how do I go about doing it?
4) Is there land transfer tax if we have separation agreement?
5) How much does a lawyer charge for this type of transfer?
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Old 05-04-2014, 10:32 PM
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Rioe Rioe is offline
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Here's how it went for me, and at all the steps, people told me it had to be in that order.

Get approval from the bank to carry the mortgage on my own.

Get separation agreement with line stating that ex gives up his share of the house to me or some such thing.

Get real estate lawyers to do the deed/title part putting the property solely in my name. (This step cost a few hundred dollars)

Take new deed/title to the bank and get ex's name released from the mortgage.
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