Division of property for married couples is governed by the Family Law Act in Ontario. The property they individually acquired is theirs to keep.
Any property acquired by a spouse during the marriage and retained until separation needs to be equally divided between the spouses.
Spouses will also need to share the rise in the value of the property held by a spouse on the date of marriage. Equalization payment refers to the payment made by one spouse to another to balance out the sharing of property value amongst each other. It is also known as equalization of net family property.