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Answered in 8 minutes by:
4/14/2012
Ulysses101, Lawyer
Category: Canada Law
Satisfied Customers: 6,163
Experience: 11 years experience in Canada family law, plus criminal, civil, and employment
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I'm confused by your question, but that might be the whole point.
If you're buying out your ex there should be no realtor fees, right?
If the realtor fees are "paid" and taken out of the equity, then he gets less, so I don't understand why he would want the value of the home to be $258,000 (less mortgage) rather than $270,000.
What province are you in? You're both on title to the home, I gather?
Ulysses
Law.Hut, Lawyer
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No that is not the norm when one spouse is buying out the other, and if this was a court ordered payout the court would not factor in fees to sell the property, because the property is not actually being sold. It is valued and divided based on its current value, and not with regard to hypothetical or future fees that might be involved on a sale.
For all you know he would not use a realtor when he sells 20 years from now for example, and so it is not fair to make you effectively pay for half the fees of that now.
A court would only factor in such fees if it was certain the property was going to be sold as part of the settlement, such as where neither party is keeping the house and it is to be sold and the proceeds divided equally.
No other assets are valued to take into account eventual costs of sale, and a family home or real estate is not treated any differently.
No that is not the norm when one spouse is buying out the other, and if this was a court ordered payout the court would not factor in fees to sell the property, because the property is not actually being sold. It is valued and divided based on its current value, and not with regard to hypothetical or future fees that might be involved on a sale.
For all you know he would not use a realtor when he sells 20 years from now for example, and so it is not fair to make you effectively pay for half the fees of that now.
A court would only factor in such fees if it was certain the property was going to be sold as part of the settlement, such as where neither party is keeping the house and it is to be sold and the proceeds divided equally.
No other assets are valued to take into account eventual costs of sale, and a family home or real estate is not treated any differently.
Law.Hut, Lawyer
Category: Canada Law
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