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Separation and Divorce or Death of a Spouse: Property Division

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Property division for married couples

When a married couple separates, each spouse usually keeps the property they own but they share any increase in the value of that property that happened during their marriage.

This means that one spouse must usually give the other spouse an equalization payment. The next section explains how to calculate an equalization payment.

In most cases, the time limit to make a claim for an equalization payment is 6 years after you separate or 2 years after you get a divorce, whichever is sooner.