Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Divorce & Family Law

Divorce & Family Law This forum is for discussing any of the legal issues involved in your divorce.

Reply
 
Thread Tools
  #1  
Old 08-15-2014, 01:22 PM
mspatient mspatient is offline
Junior Member
 
Join Date: Aug 2014
Posts: 2
mspatient is on a distinguished road
Default Disposition of a joint asset after separation

Hi,

My former husband and I (applicant) will be going to court (trial) later this year for property division and spousal support issues. We jointly owned a property abroad and recently I found out that 2 years ago he has sold this property by going to the courts in that jurisdiction and reporting me as missing while we were separated, but our counsels were in contact through out the court process. He has failed to inform my counsel both before putting the property for auction and after it was sold. Given that the trial is coming up later this year (I will be representing myself at trial), what is the best way to approach this issue in terms of presenting the evidence to his council and/or bringing a motion to obtain a non-depletion order. Is his action considered perjury?

Thanks in advance for your help!
Reply With Quote
  #2  
Old 08-15-2014, 07:49 PM
stripes stripes is offline
Senior Member
 
Join Date: Feb 2013
Posts: 2,838
stripes is on a distinguished road
Default

I'm pretty sure this isn't perjury. I'm also pretty sure a "non-depletion order" is shutting the barn door after the horses are out, because the asset has already been depleted.

If the property was not exempt from equalization (there are some circumstances under which property is exempt, but if your name was on the title, this is probably not one of them), then the value of the property should be shared equally. In other words, he owes you half of what he got for the asset. If he put money into the property on his own after you separated but before the property was sold (upkeep, taxes), he may be entitled to deduct that money from what he owes you. I suggest you present his lawyer with your evidence that the property was sold, and inform him that this should be part of the property division.

Did you have the asset valued at the date of separation? If so, you may want to use that as the value to be divided, rather than the selling value. If you didn't have the asset valued, it may be difficult for you to make an argument that the selling price was too low or otherwise disadvantageous.

You may want to invest in an hour or two with an accountant who specializes in divorce (not necessarily a lawyer) before you go to trial so you can be clear as to what you are entitled to.
Reply With Quote
  #3  
Old 08-17-2014, 12:57 AM
mspatient mspatient is offline
Junior Member
 
Join Date: Aug 2014
Posts: 2
mspatient is on a distinguished road
Default

Quote:
Originally Posted by stripes View Post
I'm pretty sure this isn't perjury. I'm also pretty sure a "non-depletion order" is shutting the barn door after the horses are out, because the asset has already been depleted.

If the property was not exempt from equalization (there are some circumstances under which property is exempt, but if your name was on the title, this is probably not one of them), then the value of the property should be shared equally. In other words, he owes you half of what he got for the asset. If he put money into the property on his own after you separated but before the property was sold (upkeep, taxes), he may be entitled to deduct that money from what he owes you. I suggest you present his lawyer with your evidence that the property was sold, and inform him that this should be part of the property division.

Did you have the asset valued at the date of separation? If so, you may want to use that as the value to be divided, rather than the selling value. If you didn't have the asset valued, it may be difficult for you to make an argument that the selling price was too low or otherwise disadvantageous.

You may want to invest in an hour or two with an accountant who specializes in divorce (not necessarily a lawyer) before you go to trial so you can be clear as to what you are entitled to.
Thanks for your help stripes!

The property in question is not considered exempt since my name was on the title. It gets more interesting. The property was appraised (though nowhere close to market value which is again hard to prove) for auction and the only bidder was an individual who had and still has a full power of attorney from the Respondent. My share of the sale (50%) is being held in trust by the government in that jurisdiction.

I was initially considering a motion for a non-depletion order to prevent him from selling his other assets and possibly leaving the country. But I agree with you, since the sale of the joint asset was done couple of years ago and he is still in Canada, It would be tough for me to prove my case at this point in time.

Earlier this year and unaware of the sale, in a Request to Admit document I sent to his counsel, I did mention that I do not have a key to that property. They did not agree with this statement and responded that the Respondent does not know why I do not have a key. I will be including the RTA and RTRTO documents to my Exhibit book.

How do the judges treat this sort of behavior and what effect does it have on their verdict? Do I need to ask for a specific amount of relief?

Thanks!
Reply With Quote
Reply

Tags
depletion, equalization, joint asset


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
When an asset becomes income Justoveramillion Financial Issues 6 10-19-2011 06:45 AM
Joint custody - questions & answers (US) first timer Parenting Issues 0 03-20-2011 12:07 AM
Why 'shared' custody? sasha1 Political Issues 35 07-01-2010 12:17 AM
Joint Accounts after separation scoobydoo Financial Issues 7 02-24-2010 08:39 PM
can i simply state in the separation agreement that we don't share each other's asset MissGirl Divorce & Family Law 3 09-11-2009 03:36 PM


All times are GMT -4. The time now is 09:27 PM.