Division of property: A common misconception is that divorce requires Ontario couples to equally split all their property, including the matrimonial home. Rather, what Ontario actually requires (re property division) is that separated spouses must equally share in the increased wealth that they accumulated during their marriage. (There is no provision that provides for equal sharing of financial losses.)
The Basic Obligation: The most basic obligation in family law dispute resolution is the legal requirement to comprehensively disclose financial information. If a financial claim is being made (child support, spousal support, or division of property) you must disclose your true financial position to the other party honestly, fully, and quickly. You also have an ongoing duty to update your financial disclosure throughout the proceedings.