A quick recap from Part 1: Under the Ontario Family Law Act, if you bring a residence into the marriage, one which is treated as the ‘matrimonial home’ as of the date of separation, you cannot deduct the date of marriage value of this home. The whole value will be included when it comes to determining the equalization payment owing by one to the other.
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The ‘matrimonial home’ is treated differently than other types of property under the Family Law Act. Indeed, the matrimonial home is accorded its own special place—Part II of the Family Law Act. A Matrimonial Home is defined as a property which at the time of separation was ‘ordinarily occupied by the person and his or her spouse as their family residence’. It should be noted that you could possibly have more than one matrimonial home. For example, if you owned a cottage as well, one that was enjoyed by the family on a regular and frequent basis, both home and cottage could be considered matrimonial homes, thereby falling under the provisions of Part II of the Family Law Act. Is the definition of the matrimonial home important? You bet it is. |
Blake's Blog
AuthorBlake R. Family Law, Ottawa lawyer & mediator. Blogs primarily on issues of Ontario & Canadian family law & estate law. CategoriesAll ArchivesMarch 2015  RSS Feed
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