What steps must be taken by a court to equalize net family properties under s. 5(6)?
Ontario, Canada
The following excerpt is from Kean v. Clausi, 2010 ONSC 2583 (CanLII):
As summarized by Blair J.A. in Serra v. Serra at para. 37: The steps to be taken when s. 5(6) is engaged are well-established. The court must first 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 paras. 5(6)(a) through (h). [Citations omitted.]
"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 to equalize net family properties? (Ontario, Canada)
Is equalization of net family properties equalization a general rule? (Ontario, Canada)
What steps must be taken by a court to determine equalization under s. 5(6)? (Ontario, Canada)
What is the province's responsibility of the courts in determining the net family property of a married couple? (Ontario, Canada)
How have the courts interpreted the principles of the Court of Arbitration for the purpose of making decisions at an arbitrator rather than the court? (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)
What is the test for making an order for equalization of net family property? (Ontario, Canada)
What is the test for a court to determine whether a party to a claim against a property is entitled to sue the property owner? (Ontario, Canada)
When will the court order an equal division for the purposes of the preservation, maintenance and improvement of the property? (Ontario, Canada)
In what circumstances will the court grant promissory estoppel to a property owner who has been ordered to pay out a loan to the property owner for the past year? (Ontario, Canada)
