[youtube=http://www.youtube.com/watch?v=azv3aZt4Eno&w=640&h=360]
In Ontario, whenever there’s a marriage breakdown, and spouses separate or divorce, if they jointly own property, then usually one spouse will release his or her interest in that property, either in return for an equalization payment or other predetermined benefit.
In this video, Rita, a law clerk with Russell Alexander Family Lawyers, explains how transfers of property in Ontario work, focusing on mortgage issues, equalization payments, and land transfer tax; and what documents and information you will be asked to bring to an appointment.
