If you are in the throes of divorce, you likely know how challenging it is to decouple emotions from the critical financial decisions that you have to make at this time. The fact that many of the judgments and choices you make will have a significant impact on your future financial stability can add a substantial amount of stress into the equation. When it comes to property division, deciding what to do with the matrimonial home is oftentimes one of the most crucial decisions you will face.
Getting a divorce isn't as easy as making the decision, snapping your fingers and going your separate ways. There are many issues to figure out, including what will happen to the home you share with your soon-to-be ex-spouse, how child custody will look and how to divide the marital assets, just to name a few things. Much hinges on the kind of relationship you and your ex currently have and will have after parting ways. Whether you have an amicable relationship or not, there are certain steps that need be taken in the divorce process.
Being a good landlord is relatively simple when you have good tenants. As a landlord, your job is to make sure your rental property adheres to all municipal codes when it comes to maintenance, safety, zoning bylaws, health standards and municipal property standards.
In Ontario, family laws see marriages as equal partnerships between spouses, and if that partnership ends, assets must be shared equally. Couples who want to take measures to ensure their separate property remains separate can sign a marriage contract to do so. Such an agreement can specify the assets each spouse brought into the marriage, and ensure that these items would once again be separate property in the event of a divorce.