Matrimonial Home

by Darrin DeRoches December 13 -19, 2012

Last week I wrote about death or “estate sales” so the natural progression would to discuss “divorce” which to some is just as bad as death. I have a client looking to separate from their “common law” or “baby daddy” depending how you look at it, and the question of the matrimonial home is the issue. In most cases the home that a couple lives in becomes the matrimonial home and it is the largest asset. Most couples will simply put the home up for sale, pay their debts and split the remainder monies evenly and move on with life. Then there is the couple who cannot come to an agreement and all hell breaks loose.     My client wants to move on with her life but the “baby daddy” does not agree on anything. She has tried to negotiate and his answer is he will not sign the agreement. The sale of the matrimonial home has to have both parties’ signatures to make it legally binding. His name is not on title but since they have shared the home as a “common law” couple, he has rights to the asset. I can list the property with her signature since she is the only one on title but when an offer is received and we negotiate a deal, I have to get the “spouse” to sign the agreement or the deal cannot close. This is where things can get pretty messy. He has already made it perfectly clear that he will not sign and he has even threatened to put a lean on the property. I have heard horror stories from agents and things do change as time goes on. The reality of the house selling is more of a wakeup call than anything else. Once they sign the house away, the next signature is on a divorce or support paper, so things can get out of hand.     I was selling a home for a divorcing couple years ago and we had a good offer on the table so I called both parties and arranged a meeting. We were sitting in the back yard and the tension was pretty high between the couple. I explained all of the details and when they agreed on the amount, the wife expressed concern was that the husband wouldn’t keep to the deal that they had made between themselves on the amount paid to her. I obviously had no dealings in their deal so I just sat there while looks, glares and a lot of silence ensued for the next few long minutes. The gate opened and the new boyfriend walked in. I was sitting there thinking “I am either going to get a signature or be breaking up a fist fight”. A few words were exchanged and she signed the paper to “end it all”. Interesting to say the least.     Prolonging the inevitable will just cost you a lot more money and grief. In the end I will get the spouse to sign the papers – I always find their motivation. V     Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at mail@uniquerealty.ca.