What is the test for deducting from the value of a property acquired by a spouse on the date of marriage?
Ontario, Canada
The following excerpt is from Houston v. Houston, 2011 ONSC 5610 (CanLII):
Accordingly, it is my reading of Collier v. Torbar that there is a twofold requirement for relief from deduction: firstly that the debt has been incurred to acquire the matrimonial home, and secondly that there must be some financial or legal constraint linking the debt to the home. If the borrower is able to satisfy the court on a balance of probabilities that both of these criteria are met he or she need not deduct the debt from the value of other assets owned on the date of marriage. If the borrower is not able to satisfy the court on one or both of these points the debt must be deducted.
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