How real estate is taxed during a separation or divorce

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What happens if a married couple separates, and they own a family house and a cottage. The separation is amicable and the couple would like to split the assets, with the family house going to the wife and cottage going to the husband. Would that trigger any taxes?—Peter
Separation can be difficult for a lot of reasons, not the least of which is figuring out the finances. There are tax implications, Peter, for both individuals to consider.How an asset transfer between spouses