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In a recent advisor.ca article, Olivia D’Ammizio, Associate Lawyer at Shulman & Partners LLP, shared her perspective on the legal and financial realities that divorcing couples face when dealing with the home they once shared. The matrimonial home is often both a family’s largest asset and a deeply emotional one, making decisions about its future particularly complex. Olivia explained the common options couples consider — from spousal buyouts to selling the property outright — and highlighted the growing affordability challenges many Canadians face when trying to maintain two separate households. Her insights underline the importance of sound legal guidance during this transition.
“The most common options include a spousal buyout, where one spouse buys their ex’s share of the matrimonial home and takes sole ownership, or the divorced couple sells the home and each party walks away with half of the net proceeds.”
— Olivia D’Ammizio, Associate Lawyer at Shulman & Partners LLP
The matrimonial home is often the most significant asset a couple owns, both financially and emotionally. In the article, Olivia explained that divorcing couples have several options for dealing with this asset, each with its own complexities and trade-offs.
The most common scenarios are either a spousal buyout or a sale of the home. In a buyout, one spouse purchases the other’s share and assumes sole ownership, often through refinancing or a new mortgage. Alternatively, couples may decide to sell the home outright and split the net proceeds. Olivia noted that while co-ownership arrangements or creative solutions such as renting out the property can also be used temporarily, many of her clients ultimately opt to sell, especially in today’s market where carrying two separate households is unaffordable for many.
Affordability is a recurring theme. Olivia pointed out that many clients find it financially unrealistic to pay both rent for a new place and the carrying costs of the matrimonial home. As a result, there is often urgency to list the home for sale so both parties can access the funds they are entitled to and begin rebuilding their financial futures.
Valuation of the home is another critical issue. Olivia emphasized that the best evidence of a home’s value is a professional appraisal, rather than relying on online estimates. When parties cannot agree on a buyout price, she recommends using either the average of two appraisals or obtaining a third appraisal to break the deadlock. A letter of opinion from a real estate agent can also be a useful option. Establishing an agreed-upon value allows advisors, lawyers, and clients to calculate the home’s equity and explore different buyout or sale strategies with clarity.
These decisions are rarely straightforward. Beyond the numbers, families must weigh their priorities, such as keeping children in the family home, against long-term financial goals like retirement savings. Olivia’s advice highlights the importance of aligning legal guidance with financial planning. By consulting both lawyers and advisors, separating couples can make decisions that reflect not only the legal framework of their separation agreement but also the practical realities of their financial situation.
Ultimately, Olivia’s insights remind families and professionals alike that there is no one-size-fits-all approach to handling the matrimonial home. Each solution must balance fairness, affordability, and the personal needs of the family — all while helping clients move forward during a difficult chapter of their lives.
Read the full Advisor.ca article here (subscription may be required).
This media appearance is part of Shulman & Partners LLP’s ongoing contributions to Canadian family law discussions. Explore more of our media features in our In the Media archive.
