If you are going through a divorce in Ontario, you may be wondering exactly what equalization entails. Rather than exchanging an interest in property, equalization provides that one spouse will make a monetary payment to the other for his or her share of the property. Each spouse then retains his or her separate property.
In your case, you may not have the financial means to make such a payment. Instead, you may want to be able to negotiate an agreement to exchange assets rather than making equalization payments to your spouse. While a judge may not make such an order, you may be able to negotiate an agreement to exchange assets in lieu of equalization payments.