In a matrimonial trial concerning property, support, and security, the court valued the respondent's closely held business at $307,000, rejected the asserted permanence of large family loan obligations, and found that a condominium transferred to the respondent by his parents remained beneficially his notwithstanding a later transfer back during the litigation.
The condominium's value was attributed to the respondent as excluded property for equalization purposes, and the court ordered an equalization payment of $140,000.
The applicant was awarded lump sum compensatory spousal support of $56,000, but no ongoing or retroactive child support was ordered given the shared parenting arrangement and the parties' relative capacities.
To secure payment, title to the Mississauga condominium was vested in the applicant for sale, subject to accounting for any net excess.
