In 1986, a fundamental philosophical change in the division of property occurred with the introduction of the current .
As a result, legal title was recognized for property division purposes.
The family home is another exception to the general rules.
When your marriage ends, the full value of the family home must be shared even if one of you owned the home before you were married, received it as a gift or inherited it.
You and your spouse must first separately calculate the total value of your share of the family property according to the legal rules. If you go to court, you must prepare a full financial report of all your property, debts and income. If a married couple separates, one spouse usually must pay the other spouse money called an “equalization payment”.
This usually means that one spouse must give the other spouse an “equalization payment” (see below). A family lawyer can help you understand your property rights.The time limit to make a claim for an equalization payment is six years after the separation or two years after a divorce, whichever is sooner.Sometimes a court will give an extension of time to make a claim.Once money is put into the family home it must be shared, even if the money came from a gift or an inheritance or other property that the law says you do not have to share with your spouse.Unlike other types of property, you do not get to keep for yourself what the house was worth at the time of your marriage.