The family home is often the most significant asset in a marriage, and deciding what happens to it after a divorce can be complex. In this video, Pier Law and Mediation in British Columbia explain property division and the factors that determine whether you can keep the house or if it will need to be sold, helping you understand your options and make informed decisions.
By the end of the video, viewers will understand the various factors that influence whether they can keep the house after a divorce and the options available to them.
Contact a British Columbia Property Division Lawyer
If you are going through a divorce and need expert advice on property division, call Pier Law and Mediation at 604-560-8285 or contact us online for a consultation. Our experienced British Columbia property division lawyers can help you navigate the process and make informed decisions about your family home.
Property Division FAQ
- How is property division handled in British Columbia? British Columbia follows the principle of equal division of family property, including the family home, unless it would be significantly unfair.
- Why is a professional valuation of the home important? A professional valuation provides the current market value, essential for equitable division and determining buyout options.
- What financial factors should I consider when deciding to keep the house? Consider your ability to afford the mortgage payments, property taxes, insurance, and maintenance costs on your own.
- What is a buyout in the context of divorce? A buyout involves one party purchasing the other’s share of the home’s equity, often requiring refinancing the mortgage.
- What should I do if my spouse and I cannot agree on what to do with the house? If an agreement cannot be reached, the court may decide based on the evidence. Reaching an amicable agreement is preferable to avoid uncertainty.
