Interest on equalization payment

[trueblue22]

Berner_Faith, your comment “ The sooner you sell, the sooner you get your money” is incorrect to put it mildly! Our matrimonial home has been sold for six years now and I still haven’t seen a dime! It remains in trust with the lawyer while the kids and I struggle financially. Your comment is supposed to be how things work but reality says it’s bs. Instead of resulting in both parties getting their share of the matrimonial home equity, sometimes the only result of selling the home is making the party who has custody of the children and the children homeless. As I have said before on another thread, beware the unintended consequences of forcing something such as the sale of the matrimonial home. Think long and hard about the doors it will open that you had no intention of opening. Such as will selling the home make your spouse and kids homeless? Will it cause them to have to move in with parents, partners? Will it open the doors for them to move somewhere like another city, province or country? For every action there is an opposite and equal reaction. You force one door closed and another will open for your spouse but it may not have been one you wanted opened. Beware!

This is exactly what I don't want to happen. If the house sells and my ex is mortgage free he'll get a new property, build equity and not be forced to care about my wellbeing while money I need to live is sitting in trust. Not to mention I think the lawyers will have a pool of money they know they can access to request all legal fees be paid from so they are more motivated to keep the case going.

[Stillbreathing]

Berner_Faith, your comment “ The sooner you sell, the sooner you get your money” is incorrect to put it mildly! Our matrimonial home has been sold for six years now and I still haven’t seen a dime! It remains in trust with the lawyer while the kids and I struggle financially. Your comment is supposed to be how things work but reality says it’s bs. Instead of resulting in both parties getting their share of the matrimonial home equity, sometimes the only result of selling the home is making the party who has custody of the children and the children homeless. As I have said before on another thread, beware the unintended consequences of forcing something such as the sale of the matrimonial home. Think long and hard about the doors it will open that you had no intention of opening. Such as will selling the home make your spouse and kids homeless? Will it cause them to have to move in with parents, partners? Will it open the doors for them to move somewhere like another city, province or country? For every action there is an opposite and equal reaction. You force one door closed and another will open for your spouse but it may not have been one you wanted opened. Beware!

[rockscan]

I really wish we had a button to like a post..

Me too!

[emoji122][emoji122][emoji122][emoji1316][emoji1316][emoji1316][emoji1303][emoji1303][emoji1303]


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[standing on the sidelines]

Why do you care how he pays you as long as it�s paid? You don�t think he should get to choose how he pays you but you think you get to choose? You can�t afford the house, stop acting like a spoiled brat and put on big girl panties. Be an adult and make good financial decisions. The sooner you sell the sooner you get your money.

But what you�re trying to do is continue to live on his dime as long as you can before actually being forced to sell... a typical want your cake and eat it too...


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I really wish we had a button to like a post..

[Berner_Faith]

Why do you care how he pays you as long as it�s paid? You don�t think he should get to choose how he pays you but you think you get to choose? You can�t afford the house, stop acting like a spoiled brat and put on big girl panties. Be an adult and make good financial decisions. The sooner you sell the sooner you get your money.

But what you�re trying to do is continue to live on his dime as long as you can before actually being forced to sell... a typical want your cake and eat it too...


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[standing on the sidelines]

As far as I understand it isn't consider stalling if we aren't in court and are actively negotiating.

If he takes me to court over it I'll agree to sell that way my legal fees will be minimal. I can't imagine a judge allowing him to claim legal fees for discussions about selling the house we've had in the last 5 years

wow he needs to force you to go to court to sell it? Just agree to sell it now and get it over with. You are being unreasonable.

[Janus]

If he takes me to court over it I'll agree to sell that way my legal fees will be minimal. I can't imagine a judge allowing him to claim legal fees for discussions about selling the house we've had in the last 5 years

That will likely work. It is the reason I usually tell people to get the court process started. Nothing really counts until you start making appearances.

[rockscan]

So why is it you will agree if he takes you to court but not now? You must know you can�t afford it and you can�t afford to fight.


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[trueblue22]

Not working on a reasonable settlement or refusing to agree to sell the house. You can�t afford to buy him out but you want him to sell his investments at a cost to buy you out. He can force the sale of the home and he may simply be trying to work through the process before filing a court action. He is not stalling, you are. You have drawn a line in the sand saying I won�t agree to sell and you owe me money. He is more than likely discussing his options with his lawyer and getting his ducks in a row. Meanwhile you are saying no to everything.

When there is matrimonial property in play then yes he can choose to say he won�t pay you out with anything but the house because he owns it. Not to mention that you may not be entitled to this windfall you think is yours. What will you do when he does file with the court and he�s calculated that you owe him money? And what happens when you end up with nothing but a big legal bill because you were being unreasonable?

Stop bitching about his income and investments. You CHOSE to quit your job and open a business that is losing money and hire your new partner with a salary to him. That was your stupid financial decision that your ex is not responsible for. You also have chosen to be unreasonable about moving on and selling the house. Thats not on him. He wants it sold and the longer you battle over an asset you can�t afford, the more money you pay out in the end.


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As far as I understand it isn't consider stalling if we aren't in court and are actively negotiating.

If he takes me to court over it I'll agree to sell that way my legal fees will be minimal. I can't imagine a judge allowing him to claim legal fees for discussions about selling the house we've had in the last 5 years

[rockscan]

I did speak to my lawyer about this. They said they could just get an extension.

Remember your lawyer gets paid no matter what the outcome is. If they fight fir an extension and they lose, you lose money on the fees and the clock keeps ticking.


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[trueblue22]

Bingo. There is an equalization limitation. OP should really be making a move on something. Either filing or something. The other party in the matter probably has good legal counsel. So good they don't need to come here to try and get answers.

https://www.ontario.ca/page/dividing...20to%20do%20so.

I did speak to my lawyer about this. They said they could just get an extension.

[Tayken]

It's in OP's best interest to file, not ex. He may simply be waiting a few more months for the equalization limitation period to expire. They're both stalling, but it'll benefit ex in the end.

Bingo. There is an equalization limitation. OP should really be making a move on something. Either filing or something. The other party in the matter probably has good legal counsel. So good they don't need to come here to try and get answers.

https://www.ontario.ca/page/dividing...20to%20do%20so.

If you need to go to court for a decision on the amount of an equalization payment, you have six years from the day you separated, or two years from the day your divorce is final (whichever comes first) to do so.

[StillPaying]

... he may simply be trying to work through the process before filing a court action. He is not stalling, you are.

It's in OP's best interest to file, not ex. He may simply be waiting a few more months for the equalization limitation period to expire. They're both stalling, but it'll benefit ex in the end.

[rockscan]

What would be considered attempts to stall? I am living in the matrimonial home but he knows he can force me to sell but he hasn't taken any action by taking me to court to force the sale of the home. He knows I want to be paid out first before I agree to sell the house but he won't pay me unless it's using funds from the sale of the house. I don't care if he doesn't want to pay taxes on his investments by taking out the money from those accounts. Does he have a right to decide which assets he needs to sell to give me my money or is it unreasonable for him to insist he only wants to use MH funds?

Not working on a reasonable settlement or refusing to agree to sell the house. You can�t afford to buy him out but you want him to sell his investments at a cost to buy you out. He can force the sale of the home and he may simply be trying to work through the process before filing a court action. He is not stalling, you are. You have drawn a line in the sand saying I won�t agree to sell and you owe me money. He is more than likely discussing his options with his lawyer and getting his ducks in a row. Meanwhile you are saying no to everything.

When there is matrimonial property in play then yes he can choose to say he won�t pay you out with anything but the house because he owns it. Not to mention that you may not be entitled to this windfall you think is yours. What will you do when he does file with the court and he�s calculated that you owe him money? And what happens when you end up with nothing but a big legal bill because you were being unreasonable?

Stop bitching about his income and investments. You CHOSE to quit your job and open a business that is losing money and hire your new partner with a salary to him. That was your stupid financial decision that your ex is not responsible for. You also have chosen to be unreasonable about moving on and selling the house. Thats not on him. He wants it sold and the longer you battle over an asset you can�t afford, the more money you pay out in the end.


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[trueblue22]

I have been embroiled in litigation for ten years now. If by some miracle he were to accept one of my multiple offers to settle then he would not have to pay costs or interest unless I factored either of those into the offer. However, if we go to arbitration/ trial then he would have to pay interest AND costs. We are asking for interest and do expect to get it at arbitration. He has had the use of my money and the children’s money for ten years and profited from same while the children and I have suffered due to his unwillingness to settle. Courts do take this into consideration, especially when there is a protracted history of bad faith behaviour by the losing party.

I haven't been to court yet but that is my biggest fear. I don't want to end up in a situation where I have no assets, everything is tied up in trust meanwhile my ex is still making 500k+ a year and my business revenue has dried up. He would bankrupt me into giving up.