How has the equalization of a jointly owned cottage been calculated in the calculation of matrimonial property?
Ontario, Canada
The following excerpt is from Marshall v Marshall, 2017 ONSC 381 (CanLII):
In Hamilton v. Hamilton 1999 CarswellOnt 2421, in addition to the matrimonial home, the parties had a cottage. Title was registered in the wife’s name only. The trial judge treated the cottage as a jointly owned “family asset” leaving it out of the net family property and equalization calculation. In doing so, the trial judge did not rely on trust principles, determining the purchase funds derived largely from a gift to them both from the husband’s mother.
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