What is the common sense exclusion for the entire proceeds of sale of a property?
Ontario, Canada
The following excerpt is from Farmer v. Farmer, 2021 ONSC 5913 (CanLII):
In Ludmer v. Ludmer, 2013 ONSC 784, Penny J. adopted the “common sense” approach too, and allowed an exclusion for the entire proceeds of sale of a property. Like Perkins J., Penny J. also discussed the caliber of the evidence needed. At ¶ 85-86 of Ludmer v. Ludmer, Penny J. held that the tracing principle is not limited by the number of transactions, or changes in form of the asset, but the ability to trace may come to an end when the asset is spent or dissipated, or when it otherwise becomes co-mingled with other assets such that the original property can no longer be discerned.
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