Property Division Lawyer  

Division of Property under the Family Law Act (Ontario)

 

The Family Law Act (Ontario) governs the division of property and assets through a regime known as “Equalization of Net Family Property.”

 

The regime is an automatic entitlement for married couples who are going through separation or divorce, with the goal being to ensure an equal share of marital property for each party.

 

The theory of the equalization regime is that each party must be compensated for their contributions to the marriage regardless of legal ownership of property. A spouse who has accumulated more property during the marriage than the other spouse will owe an "equalization payment" to even things out.

 

Either spouse can apply for equalization the FLA, at any time following separation. Note that any bad conduct (ie, cheating) does not affect legal entitlement to property. There are limitation periods under the FLA.

 

You must bring your equalization claim within the earliest of the following: •Six years of the date of separation;

•Two years from the date of divorce; or

•Six months from the date of the spouse’s death.

 

Finally, common law and unmarried couples are not entitled to equalization under the FLA regime, but can still make out individual claims for property on a case by case basis. As with any critical area of family law, you should consult with an Ontario family lawyer to get a better idea of how the law relates to your specific property situation, and to ensure your interests are not jeopardized in your divorce or separation.

 

Choosing the right lawyer early in your property division process is key to protecting your financial security and long-term interests.

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At Michael Coristine Law, we bring extensive legal experience and strong, compassionate representation to every case.

 

Led by former senior Crown Attorney Michael Coristine, our team understands that property division can be complex and emotionally challenging.

 

We focus on achieving the best possible outcome while minimizing conflict.

 

Understanding Property Division in Ontario

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Ontario follows the equalization of net family property (NFP) principle under the Family Law Act. This means spouses share in the financial growth of the marriage, but assets are not automatically split 50/50.

 

Key Factors in Property Division

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• Net Family Property (NFP): Total assets and debts accumulated during marriage, minus pre-marriage assets (some exceptions apply).

• Equalization Payment: The spouse with a higher NFP may owe the other a payment to balance financial differences.

• Matrimonial Home: Both spouses have equal rights to stay in the home, regardless of ownership.

• Excluded Property: Certain assets—like inheritances or gifts—may not be shared if properly documented.

• Common-Law Couples: No automatic equalization—claims depend on contributions or agreements.

 

Common Questions About Property Division

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• What happens to the matrimonial home?

Both spouses have the right to stay until a legal resolution is reached.

• Are pensions or investments divided?

Yes, if accumulated during the marriage.

• How are debts divided?

Debts from the marriage are generally shared but depend on the circumstances.

• What if my spouse hid assets?

Courts can investigate and adjust settlements if hidden assets are found.

• Do common-law partners have property rights?

Not automatically—claims are based on contributions or agreements.

• How can I protect my assets?

A marriage contract or cohabitation agreement can help safeguard your financial future.

 

 

Disclaimer: This content is for informational purposes only and does not constitute legal advice. Every case is unique, and speaking to a lawyer is necessary to understand your rights and obligations.

 

 

Why Choose Michael Coristine Law?

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• Relentless advocacy to protect your financial future.

• Committed to your safety and your family’s security.

• Expertise in safeguarding assets and wealth.

• Strategic solutions for resolving disputes with confidence.

• Dedicated support through life’s legal challenges.

 

Take the Next Step

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Property division can be complex, and every case is unique. The right legal team makes all the difference. Schedule a confidential consultation today.