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

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Old 04-30-2014, 01:53 PM
FightingForFamily FightingForFamily is offline
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Default International divorce and property division

Looking for some feedback for a friend. Here is the situation:

-Couple married for 5 years, living together for 10.
-Couple was married in China and own a condo. Condo has both parties names on it. It was purchased 20% contributed by the wife and 80% by the husband. Since then, it has tripled in value. The condo is in china.
-The couple has moved to Canada and been living here for 2 years. However for most of the time, the couple has been living in separate residences due to work arrangements.
-The couple have no matrimonial home (aside from condo in China) and little in the way of property. Each own a car and mostly maintain separate finances. Both work, although the husband makes more than twice what the wife does.
-There are no children of the marriage.
-The couple wishes to separate and divorce.

The only real issues I can see are the condo in china and possibly spousal support depending on the circumstances. Both parties wish to sell the condo and split the money. This is where it gets complicated:

-Where is the jurisdiction for the divorce/division of property? It has been indicated the husband wishes to file for the divorce in China rather than Canada. I presume this is because of the different rules in China, but it could be simply because that's where they were married and where their property is. Should the wife choose to file for divorce in Canada instead?

-Would the foreign property be considered a matrimonial home?

-How should the asset be divided? The wife suggests 50/50. The husband suggests they get their initial down payments back and then equally split the appreciation in value.

-Quite likely this boils down to the usual calculation of NFP.
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