Dealing with Estate Disputes After Divorce
The relationship is over and a divorce has occurred, but what happens to the house? Estate disputes are common after a break-up. To protect assets and reach a fair deal, an attorney may be required.
People get married with the best of intentions, but despite this, 40% of all Canadian marriages end in divorce. For second marriages, 20% of couples had broken up within five years of remarriage. Breaking up is never easy, but it is made more difficult by disputes over housing and assets.
Ex-couples who are dealing with housing disputes can hire the services of an estate litigation attorney in Vancouver to help them navigate through the process and reach a fair settlement. Hobbs Giroday Barristers & Solicitors shares more insights on this legal matter.
Who Stays in the Marital Home?
If the couple had children, the one who does the majority of the childcare will usually be awarded the marital home so that the children can continue to live there and attend the same school. This causes minimal disruption to their routine.
If there are no children and only one spouse owns the house, then it legally belongs to him or her. This is called excluded property. But under Vancouver law, the non-owner is entitled to 50% of the increase in value if the home has increased in value since the marriage.
The most legally complicated scenario occurs when there are no children and both parties own the house together. Then neither one can require the other to leave. In that case, an attorney may be required to help them reach an arrangement. Commonly, the house would be sold and each party takes 50% of the proceeds.
Division of Possessions and Debts
Debts and properties are usually divided equally between the parties if they cannot reach an agreement on their own, although a court would consider how debts occurred, how long the relationship lasted, and the ability of each spouse to pay off their debts.
If an estate dispute is causing stress, a lawyer can help you sort things out and find a solution peacefully. Look for a reputable estate attorney who will guide you through the process.