A trial judge did not err when, in a post-trial ruling resolving the value of the matrimonial home, he based the home’s value partly on a listing price rather than fair market value. In his trial decision, the judge had anticipated that the self-represented parties would arrive at a value for the home by starting with the average of the estimates of fair market value provided by each party’s expert. When the parties could not agree, they returned to the judge for help. They did not file affidavit evidence or testify, but simply handed up information provided to them by realtors. The husband’s realtor was confident that the home could be sold for the listing price of $679,000. The Court of Appeal held that this amounted to an estimate of fair market value. The wife’s estimate of fair market value was $625,000 and the judge averaged these two amounts to arrive at a value for the home. The court held that the judge’s decision was not unreasonable based on the available evidence. Determination of value is not an exact science and the figure chosen fell within the range of reasonable outcomes: Ogg v. Ogg, 2016 ONCA 474 (MacPherson, Juriansz and Pardu JJ.A.).
An interesting case dealing with the valuation of a Matrimonial Home
