Good idea / Bad idea 4
Welcome to Michael Iyore Law - Family Law Quiz.
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Married spouses are entilted to an equal split in the equity of a matrimonial home, even if owned by only one of them. This equal beneficial interest is protected by law. In Ontario, the consent of an untilted spouse is required for the sale of a matrimonial home.
As both spouses are on title, they are obligated to contribute to the mortgage after separation. A recurring default in the mortage could expose both parties to legal action from the lender, which could result in significant financial losses for both parties. However, it is a good idea to have a signed agreement setting out strict timelines for the sale or buyout of the home after separation, including any agreements on post separation adjustment/reimbursements.
This would be financial impropriety in a divorce proceeding that could warrant an unequal split of assets in favour of the other spouse to address the inequity. The court has the power to order disclosure of account or bank records to scrutinize account transaction history. A finding of dishonesty would result in a loss of credibitilty and reparations.
Your obligation to make financial disclosure is not extinguished by the other parties failure to make corresponding disclosure. Should a court action be commenced compelling your ex-spouse to disclose their income, your failure to have made disclosure in advance of the court action may dimish your chances of obtaining child support arrears accrued during the period on non-disclosure.
Cohabitation with a common law spouse could constitute a material change in circumstances warranting a review or termination of spousal support. It is important to disclose information about significant changes in your needs, means and circumstances that could impact the appropriateness of the spousal support amount being received.
Family law can be challenging to navigate. You're not alone in this struggle, and we're here to support you every step of the way. Keep on learning and inspiring others. See you next friday.
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Awesome!
You definitely have an understanding of important Family Law concepts. Keep on learning and inspiring others. See you next friday.
Click link here to learn more: https://www.michaeliyorelaw.ca/family-law
Click link below to schedule a consultation with a family lawyer at our office:
https://www.michaeliyorelaw.ca/contact-us
Whoa! That's an excellent score! People could learn from you, but don't forget there is always room for improvement. Keep on learning and inspiring others. See you next friday.
Click link here to learn more: https://www.michaeliyorelaw.ca/family-law
Click link here to schedule a consultation with a family lawyer at our office:
https://www.michaeliyorelaw.ca/contact-us