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  • matrimonial home equilization question

    If splitting parties agree to a 25% / 75% split, do they have to give reasons and justify it to a judge or is it just an agreement between two consenting adults that courts will just accept?

  • #2
    I think courts like it when people agree. As long as it's not justified as being done this way in exchange for someone giving up child support, because that right can't be waived by a parent. It's not your right.

    The matrimonial home forms part of the net value of the marriage. It's the net value that's equalized, not just the house. Quite often one spouse gets the house and the other ones get more of the remainder of the assets. The special rules for matrimonial homes just means that it cannot be excluded from the equalization for any reason, like some other assets can.

    And I think an overall split that appears unfair to one party is still okay in an agreement, as long as both parties agree to it. The kicker is that you both have to have independent legal advice before signing, or it can be reopened later by one person saying they didn't understand. The 75% half person's lawyer is going to say "wow! how'd you manage that, get her to sign quick!" and the 25% person's lawyer is going to say "are you nuts? get some concessions in return!" but as long as the signatures are all there, ignoring the lawyer's advice is perfectly okay. The point is that the advice was received.

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    • #3
      Thank you! I am starting to understand the whole legislation around it somewhat better now.
      Child support => right of children => dictated.
      Other things like matrimonial home => special rules to protect one spouse.
      Other assets, it's a contact between adults as long as they consent and understand what they're doing.

      In case someone knows, she had one more proposal :-

      We split equity in the matrimonial home 50/50. Both cars are in my name but I transfer one to her. Other than that I keep whatever assets and debts are in my name. She keeps whatever assets and debts are in her name.

      In return I agree to some consessions (spousal support for longer period, a few other things). End result works out to be same under both calculations (the equilization payment I make for net family property).

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      • #4
        As long as what you agree to wouldn't be deemed "unconscionable" or "unreasonable", and so long as each party receives independent legal advice, is of sound mind and is not pressured into such agreement, it would most likely stand.

        If there is a tradeoff of why she is receiving less of one asset or why she is willing to receive less (like if it is because she won't have to pay spousal support herself later, or is receiving a larger portion of another asset in exchange) there is even greater reason to allow the agreement to stand.

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