Toronto Property Division Lawyer
Property Distribution Service
Speak To a Toronto Property Division Lawyer
The trusted team at Mazzeo Law are considered the most trusted lawyers in the industry when it comes to the division of assets and property distribution issues that arise when a marriage breaks down. Our experience means that we understand the issues and can help you to make effective decisions regarding your case.
We can answer your questions and provide you the information you need to ensure the dispute is settled in your favor. Settle Disputes with the Leading Property Distribution and Property Division Lawyers in York Region. Our experts are standing by to answer your questions and provide information on the next steps forward in the process.
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Divorce Property Division of Assets in Toronto
The property regime in Toronto established by Part 1 of the Family Law Act is referred to as a deferred community property regime. This means that all property acquired during the course of the marriage by either party, with some exceptions, by the spouses (either together or separately) is considered to be the property of both spouses, notwithstanding legal title.
This means that when a marriage in Toronto breaks down, each spouse is entitled to one half of the total value of the combined assets of both spouses. We are also able to provide you these answers to you quickly and accurately, ensuring you’re not left wondering about your case.
Division of Assets in a Toronto Divorce
To aid in the division of assets and property distribution, the Family Law Act has introduced the concepts of “net family property,” “equalization,” and “equalization payment.” For each spouse, a net family property must be calculated.
This is done by totaling the value of all Toronto assets owned by that spouse on the valuation date (commonly referred to as the separation date or date of separation) , whether solely or jointly, and deducting all liabilities that were in existence on the valuation date*. Once the net family property is determined for each spouse, they are compared and equalized, so each party leaves the marriage with an equal amount of assets.
Toronto Property Distribution Services
Divorce Property Division Payments in Toronto
Once the equalization payment owing is determined, there are different ways that the parties, with the help of their lawyers and the court, if necessary, can divide the assets and distribute the property to satisfy the issue of equalization. We have helped hundreds of Toronto clients with issues relating to the division of property, division of assets and property distribution, and it would be our pleasure to work with you.
Our Toronto lawyers are experienced in resolving all types of property issues in Family Law. Our team of lawyers can provide clear answers to complex questions in the areas of the division of property, division of assets and property distribution. Scheduling a meeting with one of our qualified and trusted property division lawyers is the best first step you can take in this process.
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