How are business and rental properties divided after divorce?

Legally married persons are entitled to an “equalization of Net Family Property” under the Family Law Act. This means that all property and debts on both the date marriage and date of separation are taken into consideration when determining the overall property settlement. Thus, your spouse must account for business/rental properties under their name when calculating the overall property settlement. Please do note that there are unique rules that apply to matrimonial homes and, accordingly, I am not commenting upon those rules in this post, however if this situation does apply to you then you are welcome to telephone me at 877-668-9386 for a free consultation.

(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 Douglas Briand for a free consultation).