Shared Property in Calgary Divorces: A Divorce Lawyer's Insights
March 22, 2017
As one of Calgary's most dedicated family and divorce law firms, we help our clients dealing with common problems in Calgary divorces every day. One of the most common concerns our clients have has to do with their home. Obviously, the home you live in is an important part of your life no matter what situation you're in; the complications of a divorce make the issue more pressing and more stressful.
While we can't say what is likely to happen to what is called the "marital home" in your particular divorce unless we consult directly with you, we can provide some general information on what commonly happens in typical Calgary divorces. To learn our lawyers' insights on the division of shared properties during divorces here in Calgary, read on. For answers to your specific questions about your unique divorce case, please contact our office today to schedule a consultation.
How the Calgary Court Views Shared Property in Divorces
When it comes to most property and assets, judges in Calgary divorces look at your marriage and your assets as a simple business arrangement, and everything is split as equally as possible given your individual situations. This is also how the Court will deal with most real estate you and your ex-spouse own: based on a consideration of other shared assets, different contributions to the marriage (e.g. assets individually owned by you and/or your ex-spouse before the marriage, income and household responsibilities during the marriage, etc.), and certain other factors, the Court will try to split ownership interests evenly.
You may be required to sell shared property with you and your ex-spouse splitting the proceeds from the sale, or one party to the divorce may "buy out" the other party's interest in a property with cash or other assets at stake in the divorce. Either way, the Court is most interested in ensuring that each party ends up with their fair share of the monetary value of the property—sentimental value doesn't enter into the decision, by and large.
The only possible exception to this is the marital home, or the home you shared with your ex-spouse during the marriage. Especially if there are still children living at home, who gets retain ownership of and/or continue living in the home may be subject to considerations beyond simple monetary value. This isn't true in all Calgary divorces, however, and can be one of the more complex elements of a divorce.
If you are considering a divorce and currently live in a home you own with your spouse, contact an experienced Calgary divorce lawyer before you move out or make any other major changes. You'll be better able to protect your rights and interests, and be better equipped to make the right decisions regarding your shared property with confidence.
Contact an Experienced Calgary Divorce Lawyer Today
Questions about your unique Calgary divorce? Don't leave your future to guesswork. Contact one of our dedicated divorce lawyers today and get the help you deserve.
Return to News