Property Guide
Property Division in Ontario Separation Agreements
Ontario property division often turns on Net Family Property and equalization. The goal is to compare what each married spouse built during the marriage and equalize the difference.
Quick answer
Understand Net Family Property, equalization payments, assets, debts, matrimonial home issues, and supporting documents in Ontario.
Assets and debts to list
List real estate, vehicles, bank accounts, investments, RRSPs, pensions, business interests, valuable personal property, mortgages, credit cards, lines of credit, tax debts, and loans.
Valuation dates
Property is usually valued at the separation date. Some items also need date-of-marriage values so the agreement can identify what was brought into the marriage.
Equalization payment
After assets and debts are listed, one spouse may owe an equalization payment to balance the growth in net family property during the marriage.
Supporting documents
Statements, appraisals, mortgage documents, pension valuations, vehicle values, and business documents help support the numbers used in the agreement.
Common questions
Does Ontario split every asset 50/50?
Not exactly. Ontario generally equalizes the value of property growth during marriage rather than physically splitting every asset.
Is the matrimonial home treated differently?
Yes. The matrimonial home has special treatment in Ontario and should be handled carefully in any agreement.
Do common-law partners use equalization?
Common-law property rights are different from married spouse equalization. The agreement should reflect the relationship type.
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