Family Law Act Issues with Matrimonial Home Designations (Ontario)

There are a few points to consider here:

1. Only a property which is a matrimonial home may be designated as a matrimonial home,
2. Most properties are not designated whatsoever by either spouse,
3. A designation by the non-titled spouse is somewhat like a lien on the property,
4. More than one property may be designated as being a matrimonial home by the non-titled spouse,
5. If several are so designated, it’s like having liens on them all,
6. The process of “freeing up” the properties from these liens is to have both parties so designate a property,
7. The process of joint designation is really a process of settling up the division of assets in a marriage breakdown.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com