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What is a matrimonial home in family law?
Matrimonial Home Definition: Every property in which a person has an interest and that is or, if the spouses have separated, was at the time of separation ordinarily occupied by the person and his or her spouse as their family residence (s. 18(1) of the Family Law Act).
Parties may have more than one matrimonial home in family law.
A matrimonial home in family law is significant as it is given special treatment in the context of married spouses in two distinct ways:
- Both spouses have an equal right to possession of the matrimonial home.
- If a home is a matrimonial home at the time of separation and was the same home that the spouses resided in on the date of marriage and if it is only registered in one spouse's name, the spouse on title cannot deduct the marriage date value of the matrimonial home when calculating his or her net family property. However, the value of the matrimonial home is still included as a valuation date asset of the title holder. If all else is equal, the result of this is that the titled spouse shares half the value of the house as of the date of separation with the non-titled spouse.
The solicitors at Krol & Krol have experience with the variety of issues that can surround a matrimonial home. For a consultation with one of our solicitors, call 905.707.3370 today.