Division of Property
The Ontario Family Law Act sets out a scheme for dividing the matrimonial property of people who are married people. This would include same sex relationships when the two were married. Ontario legislation does not address the situation of people who are not married but who live together.
The Ontario scheme for division of property seeks to divide up all of the property of the married spouse from the date of the marriage to the date of separation.
Such a division would be ordered in most situations. The only exception would be where it was patently unfair, and this would be an unusual situation.
What goes into this Net Family Property pot?
In some cases, it is fairly obvious. Bank balances and automobiles, vacation homes, stocks and bonds and GIC’s and acquired jewelry all pop into this pot as do all charge cards and bank loans and mortgage balances. RRSP’s drop into the pot. Pensions must be appraised and the amount of appreciation of these types of assets, during the relative time frame, go into the pot.
Business interests of the spouses, family heirlooms, inheritances and personal injury awards are more complicated and will usually require input from counsel. In fact, parties with substantial assets usually are well advised to have legal advice before resolving matrimonial property issues.
Please note: If you are involved in a matrimonial dispute, we
strongly recommend that you retain a lawyer to represent
you at the first possible opportunity;
This site and this note are designed only to acquaint you with a
few (and only a few) of the issues that may affect you.
It is not intended as legal advice on any specific case.
You are well advised to retain the services of an
experienced lawyer as soon as possible.
Let us represent you
Pearce Ducharme Family Law
For an appointment phone us at 519-256-9500
For an appointment call 519 256 9500