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  • #16
    Originally posted by blinkandimgone View Post
    You posted a ridiculous response. Had you taken the time to actually READ the post you'd have quickly realized it had nothing whatsoever to do with SS, shelved your douchebaggery and offered some actual advice.
    So nothing? That what I thoughts... Thank you for confirming that...

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    • #17
      You are entitled to equalization as a more knowledgeable member said. Accepting monthly payments as ss would mean you pay tax on what he pays and he gets tax deduction. Normally the home is either bought out and the other paid out or sold and profit split. The monthly payment you refer to is not a very reasonable way to go, too much risk for you. Best to disregard all the repsonses regarding spousal has nothing to do with your situation, just people getting out of hand, doesn't apply here.

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      • #18
        BTW since the topic is really equalization and not ss, I'm sure you may already know but equalization includes all debts as well as assets to come to a final number of what you each come out with.

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        • #19
          Originally posted by today View Post
          You are entitled to equalization as a more knowledgeable member said. Accepting monthly payments as ss would mean you pay tax on what he pays and he gets tax deduction. Normally the home is either bought out and the other paid out or sold and profit split. The monthly payment you refer to is not a very reasonable way to go, too much risk for you. Best to disregard all the repsonses regarding spousal has nothing to do with your situation, just people getting out of hand, doesn't apply here.
          I can see it now it is risky. So probably just sell the house is a better option. I was told since I own the house also, I can choose to sell even if he doesn't want to. This will create friction but I don't see any other way to make sure I am getting my fair share of the house without risk.

          Thanks for knowledgeable helpful responses Exquizique blinkandimgone today

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          • #20
            Originally posted by today View Post
            BTW since the topic is really equalization and not ss, I'm sure you may already know but equalization includes all debts as well as assets to come to a final number of what you each come out with.
            Yes I am told about this too. He didn't go to a lawyer, he just talked to his divorced friends who are probably biased. The lawyer I went to, only spoke about what I am entitled to and how to calculate the number.

            So honestly, thanks again Exquizique blinkandimgone today you've been helpful

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            • #21
              Be careful following advice without verifying it. As it is the matrimonial home you can't just arbitrarily decide to sell it if he doesn't agree. If he wonn't agree and can't buy you out then you can file a motion to push for the sale of the house but I don't believe you can just sell it. I could be wrong but that is my understanding.

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              • #22
                Get the house appraised, cost you a few hundred dollars for a professional to do so.

                Appraised value - amount owning on mortgage / 2

                That would be the value you'd use for equalization purposes. (NOTE that is ONE part of it...equalization takes YOUR net worth AND his net worth and expresses them as a percentage of the whole. The goal is to have both parties walk away with equal value. So if HE has more assets than you, he'd owe you an amount = to the difference. Whether that's in cash, or with you getting a higher value asset than him or whatever. (ie. he has a pension and you don't, his pension is an asset. His RRSP's have a higher value than yours do, those are an asset as well)

                The house is a BIG part of most equalization equations, but it's not the only thing. Don't forget that.

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                • #23
                  Originally posted by NBDad View Post
                  Get the house appraised, cost you a few hundred dollars for a professional to do so.

                  Appraised value - amount owning on mortgage / 2

                  That would be the value you'd use for equalization purposes. (NOTE that is ONE part of it...equalization takes YOUR net worth AND his net worth and expresses them as a percentage of the whole. The goal is to have both parties walk away with equal value. So if HE has more assets than you, he'd owe you an amount = to the difference. Whether that's in cash, or with you getting a higher value asset than him or whatever. (ie. he has a pension and you don't, his pension is an asset. His RRSP's have a higher value than yours do, those are an asset as well)

                  The house is a BIG part of most equalization equations, but it's not the only thing. Don't forget that.
                  yes it is appraised. we both have pensions. he has rrsp I don't, because I used up all my rrsp to help with house bills when we were both out of work in 2008 / 2009. I am told about pension and rrsp also. just haven't talked about it with him

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                  • #24
                    Originally posted by blinkandimgone View Post
                    Be careful following advice without verifying it. As it is the matrimonial home you can't just arbitrarily decide to sell it if he doesn't agree. If he wonn't agree and can't buy you out then you can file a motion to push for the sale of the house but I don't believe you can just sell it. I could be wrong but that is my understanding.
                    thanks for this. I heard this from a professional but not a lawyer. she probably did it and managed to sell. hubby and I had a talk earlier today and he asked for a week time to think. so I will contact him again next week. I know for sure he is not going to sell the house with mortgage so low. but if he can find a place way cheaper than the mortgage, he sure will change his mind.

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                    • #25
                      Doesn"t really matter if he sells or not, "equalization" of assetts and debts will have to take place at some point, sooner rather than later, he could always refinance taking a larger mortgage to pay you out, thus keeping the house, keep in mind the other advice about all else included in the process of equalization, the house is only one of many things that will likely need to be taken into consideration.

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                      • #26
                        Originally posted by today View Post
                        Doesn"t really matter if he sells or not, "equalization" of assetts and debts will have to take place at some point, sooner rather than later, he could always refinance taking a larger mortgage to pay you out, thus keeping the house, keep in mind the other advice about all else included in the process of equalization, the house is only one of many things that will likely need to be taken into consideration.
                        that's true. I need to do this soon while he is in a good mood. otherwise he may change his mind and make it difficult.

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