Take the right steps to sell the family home after your relationship ends

By LegalMatters Staff • For many couples, their  single biggest asset is their house. So what happens to the matrimonial home during a divorce or if a common-law relationship ends?

Typically, a home is considered family property in a divorce or when an adult interdependent relationship ends, even if only one partner’s name is on the deed. Therefore, each partner is entitled to an equal share of the value of the home. However, that is not always the case in Alberta.

For example, courts in Alberta will generally allow the spouse who owned the home before the marriage to claim credit for its pre-marriage value. However, any increase in the value of the property during the relationship may still be subject to equal division. As well, one partner may have owned the home prior to the relationship and it could be excluded from division under the terms of a prenuptial or cohabitation agreement. These agreements can also define how the family home is to be divided when the relationship ends.

Selling your home during a divorce can be complex and challenging, not to mention the emotional stress it can entail, which is why it makes sense to seek legal advice. To read more, click here.