Dividing Your Property Among the legal rights of individuals seeking a divorce is the right to an equal share of the family’s property. In family law, this is referred to as an “equalization” of “net family property” (NFP). Each partner’s NFP is calculated by subtracting his or her debts from his or her assets. Once […]
This week, we take a look at gambling: specifically, situations where a spouse fritters away money during the marriage on games-of-chance, and how that imprudent conduct affects the equalization of property after the couple breaks up. How does a court ‘deal’ with unlucky gamblers? In the first case, R.(A.) v. R. (H.), 2000 CarswellOnt 4844 the husband asked for […]
In Canada, the Divorce Act does not deal with sharing your property or debts. Each province and territory has its own law that sets out the rules for dividing the property and debts you and your spouse have. Consider these 5 steps when dividing your family property.
5 Things That Make the Matrimonial Home Unique In Ontario, once a marriage ends the property-division provisions of the Family Law Act are triggered and property is divided essentially in equal portions between the spouses, subject to certain rules and exceptions. One of those exceptions relates to the matrimonial home. There are several aspects that […]
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