Property of the Marriage
Deciding Who Owns What Property
It can be difficult during proceedings to arrive amicably at an agreement on the tricky question of "who gets what". Retaining the services of an experienced Family Law lawyer to represent your interests in the division of net family property ensures your rights are protected at this stressful time.
Ontario law stipulates that a marriage is an equal contribution from each spouse and so the following property division rights apply:
Division of Property
Property acquired by a spouse during the course of a marriage that still exists at the time of separation must be ascertained and calculated.
Net increase in property value owned by a spouse at the date of marriage must be divided equally.
"Excluded Property" rules may entitle a spouse to omit certain property from equalization. Payments to a spouse as a result of the equalization of property of the marriage are known as an equalization payment.
For a free 30 minute consultation to discuss your case and learn more about the division of property of the marriage, contact Vamos Law today.