gift went into the downpayment and another gift went into mortgage - Ottawa Divorce .com Forums

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gift went into the downpayment and another gift went into mortgage

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

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  #1  
Old 06-25-2015, 07:38 PM
abuseddad abuseddad is offline
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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
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Old 06-25-2015, 07:58 PM
Serene Serene is offline
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Yes, it was acquired during the marriage and you put it on the matrimonial home.
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Old 06-25-2015, 09:21 PM
BlueDressInToronto BlueDressInToronto is offline
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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!
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Old 06-25-2015, 09:22 PM
BlueDressInToronto BlueDressInToronto is offline
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Unless the first gift was before your marriage in which case it would appear on your net worth on date of marriage.
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Old 06-26-2015, 11:36 AM
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Rioe Rioe is offline
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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!
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Old 06-26-2015, 05:55 PM
BlueDressInToronto BlueDressInToronto is offline
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That's a really good idea to include it as a negotiating point
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Old 09-03-2015, 03:26 PM
abuseddad abuseddad is offline
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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
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Old 09-03-2015, 04:01 PM
abuseddad abuseddad is offline
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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?
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