Ontario matrimonial home laws: What every spouse needs to know about asset protection

By Ryan McNeil ( October 4, 2024, 3:02 PM EDT) -- In Ontario, a unique law within the Family Law Act (FLA) provides special treatment for matrimonial homes — the residence where the couple resided together and owned at the time of their separation. In the event of a separation, Ontario law mandates that the value of the matrimonial home is split evenly between the spouses, regardless of who initially purchased the home or whether one spouse received the home as a gift or inheritance prior to the marriage....