Many couples who face the divorce process often feel overwhelmed by the number of decisions that need to be made regarding the equitable division of property, spousal support, child support calculations, and child custody schedules. One of the enormous stressors is often the decision that will need to be made concerning the marital home. Deciding to keep or sell the marital home, or which spouse gets to keep the marital home, can be a broad point of contention causing a great deal of conflict. Learn your legal rights and why you still have a responsibility to pay the mortgage payments on the marital home even if you are not living in it during the divorce process.
Your mortgage is the amount you pay every month to a bank or other lending institution on your marital home. Suppose the marital home was titled and financed under the names of both spouses, then no matter the circumstances. In that case, unless that legal documentation is changed, both spouses still have a legal responsibility to make those payments. This is true even if one spouse moves out of the marital home, or if the house is granted to one spouse in the divorce. As long as the mortgage company still has both parties listed on the legal paperwork, both spouses are equally liable for the full amount of the mortgage every month.
As with every other issue that needs to be decided in the divorce process, the marital home often receives a great deal of attention due to the fact that it is frequently the largest asset a couple owns. There are options for you and your spouse to consider how you want to handle this large asset. Contact professional separation agreement lawyer from Ontario and book your Free consultation. Some of the types of options you have regarding your marital home may include the following:
If you are facing a divorce and are concerned about how to handle the division of the marital home in the divorce, and want to ensure that your legal and financial rights remain protected, contact an experienced Family Law Attorney at Giro Law at 201-690-1642 to help you understand your legal rights.
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