DIVISION OF PROPERTY & EQUALIZATION

Under Canadian law, most assets acquired during a marriage or common-law relationship are considered matrimonial property. Even if an asset is in only one spouse’s name, it may still be divided or shared in a property settlement.

Matrimonial property can include:

Bank accounts 

Pensions and RRSPs 

Stocks and investments 

Real estate 

Automobiles, boats, and other vehicles 

Personal belongings and other assets
 

Some assets are excluded from division, such as inheritances, gifts or money received from a third party, and personal injury settlements.

The law generally requires that family property be equalized, meaning each spouse should receive an equal share of the total value of all property after debts and excluded items are considered. This does not mean that every asset or debt is split exactly in half — the total value is what is equalized.

In certain circumstances, property may not be divided equally. Factors that can affect the division include short marriages, debts incurred recklessly, or if a spouse has hidden assets or debts. At Rogers Law Firm, we help clients navigate property division to ensure a fair and equitable outcome based on their unique situation.

Ontario Division of Property   Family Law Act