Market downturn adds to divorcing couples’ woes

are also ratcheting up the financial stress for couples who are paying a mortgage, says Alyssa Bach, an associate with the Toronto-based family law firm of Shulman & Partners LLP.

Couples had a much easier time agreeing on selling the family home during the turbocharged market of recent years because both would reap the benefits of peak prices, Ms. Bach says. As sales slowed, however, and interest rates began rising, conflict began to increase too. In Canada, married spouses are each entitled to half of the equity in the matrimonial home after it is sold, Ms. Bach explains.

In some situations, Ms. Bach says, a spouse who has a sentimental attachment to a home wants to buy the other partner out.Ms. Bach points out that buyouts of a jointly-owned property need the consent of both spouses, so she advises couples to resist any compulsion to play games.

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