How does family property, or matrimonial property, get divided?
Syrtash & Grunwald : Each province and territory deals with the division of property upon separation and divorce differently and you should consult with a family law lawyer in your jurisdiction. In Ontario the Family Law Act governs how people deal with property upon separation and divorce. Generally, property is left in the hands of the owner and not dealt with directly. Instead, equalization payments will be ordered to ensure an equitable division between the parties.
Each province and territory deals with the division of property upon separation and divorce differently and you should consult with a family law lawyer in your jurisdiction. To get an idea of how this is dealt with in British Columbia, click here. If you are in Ontario, continue reading. In Ontario the Family Law Act governs how people deal with property upon separation and divorce. In a nutshell, property is left in the hands of the owner and not dealt with directly. But an equalization payment is ordered.
