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It’s a peculiar asset when it comes to divorce, because under Ontario’s Family Law Act, the cottage may be considered a second matrimonial home. Here are some facts you should know about the post-divorce ownership and use of your holiday home.
COVID-19 has impacted all sectors of the economy, including real estate. The uncertainty is particularly challenging for homeowners who are at a crossroad in their relationship or in the process of separating.
When one of the spouses in a couple already has ownership of a house, the law that applies to that house differs for common-law and married couples in the event of a separation or divorce.
Many couples who are thinking of separating are unclear about how family law determines division of the family property – including cottages and rental property.