Blogs written by lawyers at Highlander Law Group in Tantallon, Nova Scotia for people in Halifax with an interest in Real Estate Purchase and Sale, Corproate, Litigation, Debt Collection, Divorce, Probate, Wills, Power of Attorney, Trusts, Child support, Spousal Support, Custody, Migration, Debt Collection, Builders Liens, Estate Planning, Trademarks, Copyright and other Intellectual Property issues. .
So, you and your spouse (legal or common law) have agreed that one of you will “buy out” the other from the home you share ownership of. What does that mean?
Generally speaking each party is presumptively entitled to 50% of the equity in a jointly owned home. In order to switch it to a single spouse there are several steps.
Read MoreFor most families, the matrimonial home is the most significant asset they own. Deciding how to deal with it after the breakdown of the relationship is an important decision with long term consequences. Did you know, when refinancing as part of a separation, the spouse keeping the home may qualify to refinance at a higher percentage of the value of the home than the standard maximum. The standard maximum is 80%, but the maximum for a spousal buyout can be as high as 95%.
Read MoreT 902.826.3070
F 902.826.1694
E info@highlanderlaw.ca
5288 St. Margaret's Bay Rd.
Suite #201, Upper Tantallon, NS (just outside of Halifax, Nova Scotia)
B3Z 2J1
