do you use value of home at separation or at divorce?

[NBDad]

She is entitled to half of the net value of the marital assets.

If there is no mortgage on the home, then the value used is whatever the home is appraised at. (ie. if it were placed on the market and sold)

If there is a mortgage then the appraised value is the value of that particular assets (the home) and the mortgage owing would be a marital debt.

If one side cannot buy out the other for the asset, or they cannot agree on an equitable split (ie. one person gives up there share of the home for a greater amount of say the RRSPs or savings), then the home is liquidated and the proceeds after debts are paid is then split.

Quick and dirty equalization calculation:

Marital Assets (Home, cars, RRSPs, Savings, etc, etc, etc) - Marital Debts (Mortgage, loans, credit cards, lines of credits, etc) = Net Value (or Net Loss) / 2 = what each gets/owes.