Is a husband's contingent interest in a trust that had advanced capital to him and taken back a mortgage on the matrimonial home a family asset?
Alberta, Canada
The following excerpt is from Horne v. Horne, 2010 ABQB 32 (CanLII):
The trust in that case had advanced capital to the husband and taken back a mortgage on the matrimonial home. Prowse J. determined that the capital of the trust, the mortgage, had been used for family purposes and, therefore, the husband’s contingent interest in the trust was a family asset (see also Todd v. Freeman, 2005 BCCA 519, 46 B.C.L.R. (4th) 207).
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