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During a divorce, the marital home may have to go

For most married couples in Ontario, their home is their most valuable asset. It may also be the most problematic during a divorce. Deciding who, if anyone will keep the home can become a contentious issue where hearts battle with heads to make a very important decision. So key is the marital home, a niche industry has sprung up to support those who choose to sell.

With the incredibly inflated housing market the way it is, many people are discovering their home is worth far more than they thought it was. While that seems like the equivalent to holding a winning lottery ticket, the reality is not always so rosy. For some, a single income is not enough to afford to buy the other partner out of his or her share of the home. For others, high mortgage payments might be too much to manage alone.

Some former couples decide that selling the home is their only option. Selling a home as a divorcing couple can be a struggle. Realizing a niche market existed that was under-serviced, a few real estate agents now market themselves as divorce sale specialists. Working with an agent familiar with the special requirements of a divorcing couple might help make a tough situation a little easier to manage.

A divorce is a difficult process for any man or woman to go through. Making difficult decisions about assets, including the marital home, can be stressful and draining. A person who feels he or she would like support and advice from a knowledgeable professional might wish to arrange a meeting with an Ontario lawyer.

Source: The Globe and Mail, "Realtors find a niche in clients who are getting divorced", Rob Csernyik, May 5, 2017

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