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

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  #1  
Old 11-03-2010, 08:04 PM
epinecone epinecone is offline
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Default Home Ownership Matrimonial Home?

Need help understanding if there is any option in regards to matrimonial property:

History -
In the fall of 2007 my childrens mother asked me to build a new home because she was worried that the old farm house we lived in was not condusive to raising our 2 children and new one on the way.

In January of 2008 my parents transferred a 10 acre parcel of land from the family farm into my and my spouses name to build a home.

In March of 2008 I finalized the mortgage In both of our names, and withdrew 20k from my RRSP's as a downpayment.

In April of 2008 we signed the construction contract with a RTM (Ready to Move ) housing contractor to buy an existing house that was being completed.

On June 12th of 2008 my childrens mother left and moved out.

On June 14th, the RTM arrived and was installed onsite.

My family and I worked on the home for the next 7 months before we were able to move in (plumbing, basement, windows, etc..)

The Children and I moved in early in 2009 and have been slowly working on the house as time and money allows since that time.

The Childrens mother agreed in December of 2009 that she would not be seeking half of the house as she had never contributed any time of money towards it. (We had only been married 4 years at the point of seperation)

We have had Equal Shared Parenting Joint Custody since 2008. Wherein I have had to pay her 1500 / month CS and 1000/ month SS since June of 08.

Last week I recieved a letter from her new lawyer, she changed lawyers early this year, stating that his client was seeking to have her interest in the "matrimonial home" paid out in cash by December 31st of this year.

Now I have some questions:

Is a house that was not even in place before she left still the matrimonial home?

The new lawyer says that the spousal support payments do not constitute part of the asset division, and that the division of assets is completely seperate.. Is this normal? I have paid 30000 in SS thinking it was about asset division.

The new laywer says that the childrens mother gets half of the residual value (equity) and that mortgage payments and utilities and debts incurred after seperation do not count against that value.. Is this correct? I have paid 41,000 in mortgage payments in the last 30 months...I have spent approximately 30k out of Lines of Credit to make the house liveable.

Please Help.
  #2  
Old 11-03-2010, 09:00 PM
epinecone epinecone is offline
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Default Definition of Matrimonial Home

This is a special legal term, meaning the home that the spouses lived in at the time they separated.

So where does this put me?

I am worried that because I cannot afford to pay her the money she wants by December 31st, that a court will ask me to leave the home and that it be sold.

It is a piece of the family farm, and the children, my family, and I would all be devastated to lose it.
  #3  
Old 11-04-2010, 04:15 AM
Roni Roni is offline
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Don't let her lawyer bully you. File an affidavit that you spouse left and you purchased, built and paid the mortgage on the house, further more she agreed not to seek interest in it.
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Old 11-04-2010, 11:21 AM
epinecone epinecone is offline
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Default Found an Appraisal from time of Seperation

I had done two Property Appraisals since seperation, one two weeks after the childrens mother left, and one a year later.

The Appraisal from two weeks after she left, when balanced against the value of the mortgage and the 20k HBP represents a negative value.

Does she get to choose whether we use the value at seperation or the current value? or is this automatic?

If the Value of the home at time of seperation is allowed, I would not owe her any additional monies on top of the 30000 in SS and 45000 in CS I have paid her so far.
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Old 11-04-2010, 11:23 AM
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dadtotheend dadtotheend is offline
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Check post #3 here:

http://www.ottawadivorce.com/forum/f...-payment-3788/
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Old 11-04-2010, 01:04 PM
epinecone epinecone is offline
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Default Does a jusge decide

Thank-you for the information.

How is it decided what value to use?

I have the calculation for time of seperation, and the calculation for current, but the childrens mother and her new lawyer insist on the current value. However, they feel that because I have not paid her rent, she is not due for half the mortgage payments, utlilities, or any improvements that have been made.
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Old 11-04-2010, 02:37 PM
frustratedwithex frustratedwithex is offline
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You live in Alberta, Yes?

I believe that Alberta is unique in that you use current values, not values at separation.
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Old 11-04-2010, 03:38 PM
epinecone epinecone is offline
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Default Wow... Alberta...

Wow... Found a paper from UofA discussing the fact that only in very rare instances will they use the date of seperation. In fact their have only been three that the paper references since 2005.

Thank-you for the information... I had not realized Alberta was different from other provinces...

I guess I can hold onto the remote hope that my situation is different from other peoples.. The house was not in place when we seperated.. We never lived in it as a family.. and it was not available to live in until several months of hard work from family and friends to help the kids and I get it ready to move in..

It seems like it would be unfair to have to pay half of todays value.. which is 57,000 more than the value at time of seperation.... That is 28k the children and I do not have, and I am not eligible to borrow any more money.. At least not from the bank.. Any millionaires on this forum who would like to spot me 28k ;-) ?
  #9  
Old 11-05-2010, 12:27 AM
frustratedwithex frustratedwithex is offline
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Something else that is unique to Alberta is Dower rights.

InterprovincialParents explained it to me here, second page.

http://www.ottawadivorce.com/forum/f...88/index3.html
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Old 11-05-2010, 12:40 AM
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Im pushing the latest appraisal value as the ex did not agree to getting one done shortly after seperation so it's his own fault.
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