Here are your questions with some responses:
Q. Any property can be designated by both spouses as a matrimonial home by joint registration.
Q. All other matrimonial homes are then released from the protection of Part II of the Family Law Act and issues concerning possession and the consent of the non-owner spouse are eliminated.
Q. The designation does not remove such property from the calculations of net family property and the resulting equalization payment in the case of divorce.
Q. For this part, I understand like this, if 2 spouses registered for the first matrimonial home, then all the houses they own after that will be consider matrimonial homes regardless who buys it and will be divided equally if divorce. Am I right?
Q. Then, the other circumstance: If only one spouse completes a designation, all of the remaining matrimonial homes retain their status despite that registration.
Q. What does that mean of the remaining matrimonial homes retain their status?
A. That means nothing happens at all. If they are indeed matrimonial homes, then that will be the cases, if they are not, then, they are not.
Q. What status, is this like they belong to both spouse as their joint registration, or they belong to the one spouse that designates?
A. The title remains with the title holder.
Brian Madigan LL.B., Broker