Friday, June 20, 2008

Common Law or Married

Another Reason to Tie the knot.

Even though common law marriages are becoming commonplace, the law is still more protective of the rights of married couples. Currently, Ontario law gives special treatment to a home in which a married couple resides- their "matrimonial home". If only one of the spouses ownes the matrimonial home, then he or she needs to have the other spouse's consent to the sale. ( This consent is given both on the Offer at the time of the sale of the home and again on the Deed at the time of closing.)

In the case of a couple. who have been living together long enough to be considered "common-law spouses" , the home owning spouse does NOT require the consent of the other common-law spouse to sell.

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