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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Burnaby rent prices still rising as housing market stallsBurnaby is still one of the top three most expensive cities to rent from in Canada.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »

Calgary non-profit provides entry into job marketWatch: A new Calgarian is breaking barriers in a 'second life' and says non-profit Momentum helped her realize her identity won't hold her back. StephThomasCTV has more. yyc
Source: CTVCalgary - 🏆 26. / 68 Read more »

Burnaby rent prices still rising as housing market stallsBurnaby is still one of the top three most expensive cities to rent from in Canada.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »

Market movers: Stocks seeing action on Thursday - and whyA look at North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Porter Airlines enters Calgary market with 2 daily flights to TorontoA Toronto-based airline will soon be arriving at YYC Calgary International Airport with plans for two daily round-trip flights to Canada's busiest city. yyc ytz calgary porterairlines
Source: CTVCalgary - 🏆 26. / 68 Read more »

Canada's housing market falls deeper into correction with prices down 11.5% from peakCanada home prices fell for a ninth straight month as sharply rising interest rates prompted both buyers and sellers to withdraw. Read more That's not alot. This headline is fakenews Canada is a VERY BIG place. Not true everywhere.
Source: financialpost - 🏆 7. / 85 Read more »