Ontario's Family Law Act provides for an equalization of "net family property", meaning all property acquired while married. Each spouse can deduct the value of property owned before marriage except the matrimonial home. It always forms part of the net family property, regardles of when it was bought, who bought it , or in whose name it is registered.
A marriage contract before marriage can deal with the ownership of a matrimonial home.
If the owner of the home sold the home and then used the money to buy the matrimonial home in his/her name, he/she could deduct the purchase price from the "net family property" following separation. If one brings a house to the marriage which later became the matrimonial home, no deduction is allowed!! Alan Silveseini, Toronto Star, June 1997
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