Divorce is never an easy time, and having to sell the home you lived in will be emotional. If you keep a couple things in mind during the process, it will help you make some final decisions.
One question you need to ask yourself is: who is on the title of the property? If you are both on the title, then you both have to agree on who is going to sell the home; how much you are going to list the home for; closing dates, etc. Even if the one spouse is not on the title but lives in the matrimonial home, that spouse still must be part of all decisions pertaining to the sale of the home. A separation agreement should be in place before selling your home. If not, then the proceeds of the sale of the home may end up in trusts with the lawyers for a long time.
In the midst of a divorce, there are four options to consider that pertain to the matrimonial home:
All of these questions can be answered with legal advice and financial advice. When you have decided which avenue will work best for the both of you and your family, a real estate agent can then start to do her or his job: either selling your home, or helping you find a new home.
Royal LePage Realty Plus Real Estate Sales Representative, Adele Paletta expertise lies in the Greater Western Toronto area including: Mississauga, Oakville and Burlington.
Certified Divorce Financial Analyst
Business Valuators / CPAs