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Does the equalization get valued at the time of separation?

Anonymous Asked:

Matrimonial home sold 15 years after separation. Does the equalization get valued at the time of separation or the time of sale. House has been sold and proceeds already split equally. House was in one spouses name.

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I respectfully suggest that you telephone me at 866-557-3222 for a free consultation. You have mentioned โ€œ15 years after separation,โ€ at the same time noting that the house was in one spouseโ€™s name. Thus, there may be an intervening limitation period which affects your equalization rights. In Ontario, unless a spouse has passed away, there is a limitation period of six years from the date of separation, or two years from the date of a divorce, whichever comes first. I cannot say that one of these applies to you without first speaking with you and, accordingly, no further guidance can be provided without my ability to speak with you and ask pertinent questions. Limitation periods are quite serious.

(The information provided above is general, not legal advice, as circumstances vary from case to case. As well, generally speaking, the above information relates to Ontario law. Thus, if you wish legal advice that you can rely upon for your specific case, or if you are making inquiries where Ontario law may not apply, please contact Andrew Kania for a free consultation).

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