Matrimonial Home Issues in Ontario

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Question:

1) I know a Matrimonial home can be owned but can it also be leased or rented as long as it is used yearly?

2) Can you have more than 1 Matrimonial home? Or is 1 or designated as the matrimonial home? (the one the couple is living in yearly).

Answer:

A matrimonial home could be occupied by way of a lease.

The concept of “yearly” has no relevance to this issue.

You can have more than one matrimonial home. There is no limit.

If both spouses designate the same property as THE matrimonial home, then, that’s it, just one and the others are freed from the classification.

Again, the concept of “yearly” has no relevance to this issue.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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