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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 100046
Experience:  Lawyer
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My wife and daughter own a house in Ontario as Tenants in

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My wife and daughter own a house in Ontario as 'Tenants in Common'. My daughter has 2 liens against the house that my daughter signed for ($10K and $30K). We are looking to sell the house. There is a $50K mortgage on the house. If we sell the house for $100K the capital gain would be $50K. Do these liens apply against my wife's portion of the gain or just my daughters?
Thank you for your question.

Before I begin I want to explain a bit about how the site works.

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As well, please understand that as a careful lawyer I will always give you an honest answer even if the answer is sometimes not what you were hoping for.

Finally, as we go through the process please do not feel rushed if I ask you a question. You are always free to take your time to gather more information before you post back. As well, please understand that even after you rate me the post will not lock and you could always come back for further clarification if you think of something a bit later on down the road.

The liens can only affect your daughter's portion of the equity. Your wife's equity is safe as the debts are not hers.

Let me know if you need any further clarification.
Customer: replied 3 years ago.

If it was 'joint tenants' would the answer be the same? It isn't but since I am getting conflicting stories from lawyers I need to know. Thanks. Jim.

The answer is the same.

The difference in that case really just comes into play if the house is still owned when the first dies.
Debra and other Canada Law Specialists are ready to help you

Thanks very much for the rating.

Please take the time to participate in the customer satisfaction survey as that will go into my record with the site.You will be sent an email with the survey in a couple of days.

And feel free to keep my name in case you need me again down the road. You can always put my name into the subject line the next time you post so that your question will stand out for me and I will answer it just as soon as I can.

Thanks and take good care!
Customer: replied 3 years ago.

I already gave you a positive rating and you were paid. Your email asks for more info but I don't see any request for more info. Thanks. Jim.

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