Updated: Aug 22
I am done with this marriage! Do I have to share everything???
At Divorce is Simple we want you to know your rights and obligations when you decide to leave your marriage. In Ontario the courts look upon a marriage as a contract and anything acquired during that time has to be split equally regardless of who paid for it. This includes:
Real Estate Property
Valuable possessions i.e., artwork, antiques, jewellery
For property that you owned before the marriage, any increase in value is usually divided equally. This applies to the family home where you lived with your spouse.
You must share the full value of the family home, even if one of you owned the home before you got married, you received it as a gift or you inherited it.
To affect this sharing, money owed to either spouse is called an equalization payment, or an equalization of net family property.
At Divorce is Simple our family law mediation team allows you to create a separation agreement that works for both of you. As long as both of you agree you can split your assets whatever way you want. If you are looking for an amicable way to end your marriage, contact us today at Divorce is Simple.
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