Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Reply
 
Thread Tools
  #1  
Old 06-25-2015, 07:38 PM
abuseddad abuseddad is offline
Senior Member
 
Join Date: Jul 2011
Posts: 201
abuseddad is on a distinguished road
Default gift went into the downpayment and another gift went into mortgage

So,
I have received a gift and have put it towards the home downpayment for matrimonial home. Recently another gift I have paid as lump towards the principle of the matrimonial home.
Are they washed through the matrimonial home equity splitting?
Thanks
Reply With Quote
  #2  
Old 06-25-2015, 07:58 PM
Serene Serene is offline
Senior Member
 
Join Date: Mar 2013
Posts: 1,587
Serene is on a distinguished road
Default

Yes, it was acquired during the marriage and you put it on the matrimonial home.
Reply With Quote
  #3  
Old 06-25-2015, 09:21 PM
BlueDressInToronto BlueDressInToronto is offline
Member
 
Join Date: Feb 2015
Posts: 63
BlueDressInToronto is on a distinguished road
Default

If you had kept them in an investment or account in your name they would be 100% yours. But in the matrimonial home they are lost and you split the house 50/50 with no consideration of your two gifts. Sorry!
Reply With Quote
  #4  
Old 06-25-2015, 09:22 PM
BlueDressInToronto BlueDressInToronto is offline
Member
 
Join Date: Feb 2015
Posts: 63
BlueDressInToronto is on a distinguished road
Default

Unless the first gift was before your marriage in which case it would appear on your net worth on date of marriage.
Reply With Quote
  #5  
Old 06-26-2015, 11:36 AM
Rioe's Avatar
Rioe Rioe is offline
Senior Member
 
Join Date: May 2010
Location: Ontario
Posts: 3,351
Rioe will become famous soon enough
Default

Quote:
Originally Posted by abuseddad View Post
So,
I have received a gift and have put it towards the home downpayment for matrimonial home. Recently another gift I have paid as lump towards the principle of the matrimonial home.
Are they washed through the matrimonial home equity splitting?
Thanks
Legally, that's the case yes. You comingled your financial gift into marital assets instead of keeping it separated. You shared it with your spouse already, and you can't unshare it now that you are splitting up.

However, you could use it as a negotiation strategy. Put in your offer that you want that money back, as it was a gift for you, and see what happens. You could 'generously' take it out later in return for a concession from your ex.

Needless to say, don't put any more gifts towards the matrimonial home!
Reply With Quote
  #6  
Old 06-26-2015, 05:55 PM
BlueDressInToronto BlueDressInToronto is offline
Member
 
Join Date: Feb 2015
Posts: 63
BlueDressInToronto is on a distinguished road
Default

That's a really good idea to include it as a negotiating point
Reply With Quote
  #7  
Old 09-03-2015, 03:26 PM
abuseddad abuseddad is offline
Senior Member
 
Join Date: Jul 2011
Posts: 201
abuseddad is on a distinguished road
Default

Now it came the time that I have to fill out form 13.1. The idea of putting the gifts as negotiation point it is a great one.
Where can I list this?
Thanks in advance
Reply With Quote
  #8  
Old 09-03-2015, 04:01 PM
abuseddad abuseddad is offline
Senior Member
 
Join Date: Jul 2011
Posts: 201
abuseddad is on a distinguished road
Default

Quote:
Originally Posted by abuseddad View Post
Now it came the time that I have to fill out form 13.1. The idea of putting the gifts as negotiation point it is a great one.
Where can I list this?
Thanks in advance
Should I get my father(who gifted me) to ask for it formally/legally, so it comes out as a shared debit?
Reply With Quote
Reply


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 Off



All times are GMT -4. The time now is 04:31 AM.