Division of Property and Equalization
Chhokar Law Office in Brampton, Ontario is here to offer there clients the best legal representation when it comes to Divorce / Separation and Equalization. Ontario’s property equalization scheme under the Family Law Act (FLA) is called a “deferred community-of property” regime. This means that when two people enter into a marriage, each spouse becomes automatically entitled to an equal share of the profits of that marriage.
That right to equalization is triggered when the marriage dissolves or one spouse dies. Each partner then becomes entitled to one half of the value of property accumulated during the marriage (not one half of the property itself). The court orders one spouse to pay the other an “equalization payment,” in order to equalize the value of each spouse’s net family property.