Who Gets the Car, Furniture and Bank Accounts When You Separate in Ontario?

For married spouses, the car, furniture and bank accounts are generally dealt with by value rather than item by item. Each spouse works out their net family property: property owned on the separation date, minus debts and excluded property, minus net property owned on the date of marriage (not counting the family home). The spouse with the larger figure pays half the difference as an equalization payment.

Some things are left out. Most gifts and inheritances (other than the family home) and compensation for personal injury usually stay with their owner. The full value of the family home is shared even if one spouse owned it before the marriage. An unequal split is possible only where an equal split would be extremely unfair. Common-law partners are different: property generally belongs to the partner who bought it.

In practical terms, write down balances, vehicle values and major household items as of the separation date, and keep statements for every account. Avoid taking, selling or draining things without agreement, and ask a lawyer before moving large sums, since how a particular account or vehicle is treated depends on your facts.