What steps must be taken to equalize net family properties?
Ontario, Canada
The following excerpt is from Borutski v. Borutski, 2011 ONSC 7099 (CanLII):
The first step is to ascertain the net family property of each spouse, by determining and valuing the property each owned on the valuation date (subject to the deductions and exemptions set out in s. 4). Next, the court applies s. 5(1) and determines the equalization payment. Finally – and before making an order under s. 5(1) – the court must decide whether the equalization of net family properties would be unconscionable under s. 5(6), having regard to the factors listed in paragraphs 5(6)(a) through (h) - Serra v. Serra 2009 ONCA 105 (CanLII).
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
What steps must be taken by a court to equalize net family properties under s. 5(6)? (Ontario, Canada)
Is equalization of net family properties equalization a general rule? (Ontario, Canada)
What is the effect of postponing equalization of a husband's pension equalization until after the husband’s pension is equalized? (Ontario, Canada)
What steps must be taken by a court to determine equalization under s. 5(6)? (Ontario, Canada)
What is the test for making an order for equalization of net family property? (Ontario, Canada)
What steps must be taken to equalize a vehicle? (Ontario, Canada)
What steps must the Assessment Review Board take to determine the value of a property for purposes of property tax? (Ontario, Canada)
What is the test for equalization of net family property? (Ontario, Canada)
Does a spouse have an obligation to disclose all financial information to the husband when they are seeking equalization of net family property? (Ontario, Canada)
Is a transfer of property to a new partner set aside if the new partner agrees to a transaction which has the effect of avoiding a former spouse's support and property obligations? (Ontario, Canada)
