Divorce – Buy Your Partner Out of the Matrimonial Home

I want to reiterate that before you finalise a decision with respect to your matrimonial home, it is recommended you consult both a mortgage advisor and lawyer.  Ok that being said, here are some key points to consider when buying one party out of the matrimonial home:

  • Frist: this option tends to offer the most stability for families with children as it maintains a familiar place.
  • Second: the financial responsibility for the property will be on one person alone… SO be sure to speak with your mortgage advisor to see if this is possible.
  • Third: Don’t forget to account for your living expenses… lets call this real life expenses… into your budget. Mortgage advisors don’t typically factor in things like kids hockey, dance or gymnastics costs… OR your food and entertainment costs.