Questions & Answers

Splitting property

I moved out of a home that is owned by myself and my ex husband Jan 2013. Since than I’ve been renting and he continued to pay the mortgage. We have a 4 year old daughter who has been with me (He has been seeing her every other weekend since July 2013) We need to sell the property, does this get split equally – 50/50?

— Lori H.

Answer

If you jointly owned the home, the net equity would be shared equally. Your ex husband would probably be credited for the amount of the mortgage he paid down since you separated, depending on your circumstances. If you did not jointly owned it, then you may have a claim to an equalization payment based on the equity in the home when you separated and the other debt and assets on the date of separation. It is a complicated calculation and more details are needed to answer this question definitively. Go to the article in this website regarding the equalization process. http://galbraithfamilylaw.com/equalization/ You can always book a consultation with one of our lawyers.

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