Legal separation in canada and dating
family law topics available in English Alternative Dispute Resolution and Family Law Child Protection and Family Law Child Support Criminal and Family Law Child Custody and Access Domestic Contracts Family Law Arbitration Family Law Issues for Immigrant, Refugee and Non-status Women Finding Help with your Family Law Problem How property is Divided in Family Law Marriage and Divorce Spousal Support These topics are also available in: English Français Arabic Chinese (traditional) Chinese (simplified) Farsi Korean Punjabi Russian Somali Spanish Tamil Urdu Specialized Materials Indigenous women Francophone Women Jewish Women Muslim Women Women with Disabilities and Deaf Women Women living with HIV Audio resources for South Asian Women When you and your partner separate, you will have to divide who gets what property that you had as a family.
Property means anything a person owns, such as a home, car, personal and household items, pensions, bank accounts and any other investments. A debt is a promise to pay back money that was borrowed.
To do this, one spouse usually must pay the other spouse money, called an “equalization payment” .
The steps to figure out the equalization payment are explained below.
At the end of the marriage, this can mean they don’t have enough money to pay off their debts.
Sometimes the positive value of all of a spouse’s property decreases over the course of the marriage.
In some cases, the Court can order a different equalization payment if the equalization amount is unfair.
A married couple’s family home is treated differently than all other property.
The family home, also called the matrimonial home, is the home where your family had been regularly living at the time you separated.
The rules for dividing family property can be very complicated.
If you are in this situation, it is recommended that you get legal advice from a family law lawyer.
When couples are dividing family property, the property value they usually use is the amount of money the property was worth on the date that the partners separated and knew they would not get back together.