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Subsections 5(1) and (2)
Ontario Family Law Act
Equalization of Net Family Properties
[This is the provision allowing an equalization of net family properties.]
(1) When a divorce is granted or a marriage is declared a nullity, or when the spouses are separated and there is no reasonable prospect that they will resume cohabitation, the spouse whose net family property is the lesser of two net family properties is entitled to one-half the difference between them.
[As you can see below, net family properties are not only equalized upon the breakdown of a marriage, but also upon the death of a spouse.]
(2) When a spouse dies, if the net family property of the deceased spouse exceeds the net family property of the surviving spouse, the surviving spouse is entitled to one-half the difference between them.
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