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  • Steps to pay spousal support?

    I am separating from husband of 11 years. I have just moved out into a new location and before the move, we had a talk about property division and spousal support.
    He is not sure about selling the house, because the mortgage right now is low and is on a fixed rate for another 3 yrs. So he may choose buy my share and pay monthly spousal support.
    Someone told us, it's easier to sell the house and pay lump sum, rather than pay spousal support that has to go through tribunal 8 months.
    We have no kids and the only asset to divide is the house. Is this true about going through tribunal? I thought all we have to do is get a lawyer to legalize the separation agreement and then we can either sell the house or he buys my share?

  • #2
    Originally posted by NoRegret View Post
    I am separating from husband of 11 years. I have just moved out into a new location and before the move, we had a talk about property division and spousal support.
    He is not sure about selling the house, because the mortgage right now is low and is on a fixed rate for another 3 yrs. So he may choose buy my share and pay monthly spousal support.
    Someone told us, it's easier to sell the house and pay lump sum, rather than pay spousal support that has to go through tribunal 8 months.
    We have no kids and the only asset to divide is the house. Is this true about going through tribunal? I thought all we have to do is get a lawyer to legalize the separation agreement and then we can either sell the house or he buys my share?
    Step 1: Get a job...


    It's not best day to ask about SS...

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    • #3
      You may get some flack on this one...

      Comment


      • #4
        Originally posted by WorkingDAD View Post
        Step 1: Get a job...


        It's not best day to ask about SS...
        Lol this is what I mean... I agree...not just about the day, but I think this week in general is a bad week to ask about SS, look at some of the other threads here, I just finished reading some of the most recent ones on SS...

        Comment


        • #5
          well I am entitled to half of the house for sure LOL
          best day or not and whether he chooses to sell the house or buy my share
          we just don't know what to do after getting the lawyer to legalize the agreement

          Comment


          • #6
            Originally posted by Berner_Faith View Post
            Lol this is what I mean... I agree...not just about the day, but I think this week in general is a bad week to ask about SS, look at some of the other threads here, I just finished reading some of the most recent ones on SS...
            I read those too but we are not one of those couples bickering at each other about who is entitled to what. I already have a job LOL that's why I just want my share of property and none of us knows how to get that done

            Comment


            • #7
              Which province are you in? I am unfamiliar with this "tribunal" you mentioned.

              If you have the details and particulars of how the buyout is supposed to proceed, then once the agreement has been signed and witnessed, and filed with the court if you're applying for a divorce at the same time, then both of you can just retain a real estate lawyer to carry out the terms of the buyout as stated in the separation agreement (eg. he transfers the sum of money to you, your name gets removed from the title etc.). If you are both in agreement about this it's not a big deal.

              My ex bought me out of my share of the matrimonial home. We detailed the amount owed in our separation agreement, had it signed and witnessed, then went to see a real estate lawyer to complete the transaction. Done.

              I'm confused about the spousal support part.

              Comment


              • #8
                Originally posted by Exquizique View Post
                Which province are you in? I am unfamiliar with this "tribunal" you mentioned.

                If you have the details and particulars of how the buyout is supposed to proceed, then once the agreement has been signed and witnessed, and filed with the court if you're applying for a divorce at the same time, then both of you can just retain a real estate lawyer to carry out the terms of the buyout as stated in the separation agreement (eg. he transfers the sum of money to you, your name gets removed from the title etc.). If you are both in agreement about this it's not a big deal.

                My ex bought me out of my share of the matrimonial home. We detailed the amount owed in our separation agreement, had it signed and witnessed, then went to see a real estate lawyer to complete the transaction. Done.

                I'm confused about the spousal support part.
                I think he heard this from someone else, while I heard about the tribunal from someone else. We are in Ontario. Basically he is saying that if he sells the house, he will pay lumpsum 50% of the money (We bought the house together) But if he buys my share, he will pay me monthly because he doesn't have cash to pay it upfront and his credit line is maxed. he calls this spousal support, probably being sarcastic as he is.
                But thanks for your reply. I talked to a lawyer about separating and she advised me what I am entitled to but I didn't know that lawyer would handle the property division after agreement is signed. I thought we have to do that ourselves. Thanks that's the answer I need

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                • #9
                  Originally posted by NoRegret View Post
                  I think he heard this from someone else, while I heard about the tribunal from someone else. We are in Ontario. Basically he is saying that if he sells the house, he will pay lumpsum 50% of the money (We bought the house together) But if he buys my share, he will pay me monthly because he doesn't have cash to pay it upfront and his credit line is maxed. he calls this spousal support, probably being sarcastic as he is.
                  But thanks for your reply. I talked to a lawyer about separating and she advised me what I am entitled to but I didn't know that lawyer would handle the property division after agreement is signed. I thought we have to do that ourselves. Thanks that's the answer I need
                  Ahhhh ... i understand now

                  I'm in Ontario too, didn't have to go through any sort of "tribunal".

                  Again, if both of you are amicably discussing and agreeing on matters, you can practically agree to any arrangement you want within the confines of the law. If the house is getting sold, you're going to need a real estate lawyer for the transaction anyway, so i'm pretty sure the same lawyer can wrap up the "lump sum" buyout payment to you and ownership transfer to him at the same time. If he's going to pay you an amount in monthly instalments, make sure you both discuss, agree on, and detail in writing in your agreement the terms of these payments, eg. instalment amount, duration, method of payment etc. ... no detail too small to be spelled out!! If he buys you out in monthly instalments though, not sure how a real estate lawyer would effect the title change. You may just have to state a term in your agreement that upon receipt of the final instalment payment, the title will be changed to be under his name only. Speak to a real estate lawyer, i'm sure they will have handled similar transactions before and can advise you accordingly.

                  Comment


                  • #10
                    Originally posted by Exquizique View Post
                    Ahhhh ... i understand now

                    I'm in Ontario too, didn't have to go through any sort of "tribunal".

                    Again, if both of you are amicably discussing and agreeing on matters, you can practically agree to any arrangement you want within the confines of the law. If the house is getting sold, you're going to need a real estate lawyer for the transaction anyway, so i'm pretty sure the same lawyer can wrap up the "lump sum" buyout payment to you and ownership transfer to him at the same time. If he's going to pay you an amount in monthly instalments, make sure you both discuss, agree on, and detail in writing in your agreement the terms of these payments, eg. instalment amount, duration, method of payment etc. ... no detail too small to be spelled out!! If he buys you out in monthly instalments though, not sure how a real estate lawyer would effect the title change. You may just have to state a term in your agreement that upon receipt of the final instalment payment, the title will be changed to be under his name only. Speak to a real estate lawyer, i'm sure they will have handled similar transactions before and can advise you accordingly.
                    OK the lawyer I spoke to is Family law so I guess she doesn't talk about buyout etc thanks again!

                    Comment


                    • #11
                      The term you're looking for is 'equalization' which is the division of your assets, this isn't the same as spousal support at all. And yes, you are absolutely entitled to equalization whether or not you have a job, despite what WorkingD-bag suggests.

                      If he wants to retain the home then yes, he would buy out your share of the equity in the home. How the two of you decide to arrange it is up to the two of you however I would think that taking monthly payments could keep the two of you linked for a lot longer than you would like and could lead to other issues further down the road if things should change or if he should decide to stop paying etc.

                      If he can`t afford to buy you out and you don`t want to keep the home and buy him out then the best thing is probably to sell it, split the cash and go your seperate ways.

                      Comment


                      • #12
                        Originally posted by blinkandimgone View Post
                        The term you're looking for is 'equalization' which is the division of your assets, this isn't the same as spousal support at all. And yes, you are absolutely entitled to equalization whether or not you have a job, despite what WorkingD-bag suggests.

                        If he wants to retain the home then yes, he would buy out your share of the equity in the home. How the two of you decide to arrange it is up to the two of you however I would think that taking monthly payments could keep the two of you linked for a lot longer than you would like and could lead to other issues further down the road if things should change or if he should decide to stop paying etc.

                        If he can`t afford to buy you out and you don`t want to keep the home and buy him out then the best thing is probably to sell it, split the cash and go your seperate ways.
                        thanks now I know one more legal term
                        we're going to have a talk about this tomorrow and I'll keep your suggestion in mind.

                        Comment


                        • #13
                          Originally posted by blinkandimgone View Post
                          The term you're looking for is 'equalization' which is the division of your assets, this isn't the same as spousal support at all. And yes, you are absolutely entitled to equalization whether or not you have a job, despite what WorkingD-bag suggests.
                          Hey! I did not call you names! My answer was about SS. That how tread titled...
                          What are you 5 year old?

                          What make you think that you can call anyone names? Anything?

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                          • #14
                            It was a good jab, though, WorkingDad, you have to admit.!!! I'm still laughing. And you're right.. Not a good day to be asking about SS.

                            Comment


                            • #15
                              Originally posted by WorkingDAD View Post
                              Hey! I did not call you names! My answer was about SS. That how tread titled...
                              What are you 5 year old?

                              What make you think that you can call anyone names? Anything?
                              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.

                              Comment

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