Property and Debt in Family Law Matters - Revision history

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2025-06-17T22:27:04Z

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	\| resourcetype = a fact sheet on		\| resourcetype = a fact sheet on
	\| link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]		\| link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]
	}}This chapter focuses on the division of property and debt between spouses according to the provincial ''[[Family Law Act]]''. Under these parts of the ''Family Law Act'', the term "spouse" includes both ''married couples'' and ''people who lived together in a marriage-like relationship for at least two years''.		}}This chapter focuses on the division of property and debt between spouses according to the provincial ''[[Family Law Act]]''. Under these parts of the ''Family Law Act'', the term "spouse" includes both ''married couples'' and ''people who lived together in a marriage-like relationship for at least two years.''

	The basic approach to property under the ''Family Law Act'' is pretty straightforward. When spouses separate, each spouse keeps the property they brought into the relationship, as well as specific kinds of assets they got during the relationship, and the spouses equally share the rest of the property they own together or separately. The property that each spouse keeps is called "excluded property." The property they accumulated during their relationship and share is called "family property."		The basic approach to property under the ''Family Law Act'' is pretty straightforward. When spouses separate, each spouse keeps the property they brought into the relationship, as well as specific kinds of assets they got during the relationship, and the spouses equally share the rest of the property they own together or separately. The property that each spouse keeps is called "excluded property." The property they accumulated during their relationship and share is called "family property."

Jpboyd at 19:27, 21 May 2024

2024-05-21T19:27:55Z

Jpboyd at 19:13, 21 May 2024

2024-05-21T19:13:19Z

← Older revision		Revision as of 19:13, 21 May 2024
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	\| resourcetype = a fact sheet on		\| resourcetype = a fact sheet on
	\| link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]		\| link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]
	}}This chapter focuses on the division of property and debt between spouses according to the laws in parts 5 and 6 of the provincial ''[[Family Law Act]]''. Under these parts of the ''Family Law Act'', the term ''~~spouses~~'' refers to married couples~~, but also to~~ people who ~~were living~~ together in a marriage-like relationship for at least two years.		}}This chapter focuses on the division of property and debt between spouses according to the laws in parts 5 and 6 of the provincial ''[[Family Law Act]]''. Under these parts of the ''Family Law Act'', the term ''spouse'' refers to both married couples and people who lived together in a marriage-like relationship for at least two years.

	Under the ''Family Law Act'', after spouses separate the presumption is:		Under the ''Family Law Act'', after spouses separate the presumption is:

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← Older revision		Revision as of 18:36, 14 July 2022
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	~~{{JPBOFL Start Chapter~~
	\|Related = [[Basic Principles of Property & Debt in Family Law\|Basic Principles]]{{·}}[[Protecting Property & Debt in Family Law Matters\|Protecting Property & Debt]]{{·}}[[Dividing Property & Debt in Family Law Matters\|Dividing Property & Debt]]
	}}
	{{JP Boyd on Family Law TOC\|expanded = assets}}{{JPBOFL Editor Badge		{{JP Boyd on Family Law TOC\|expanded = assets}}{{JPBOFL Editor Badge
	\|ChapterEditors = [[Helen Chiu]] and [[Matthew Ostrow]]		\|ChapterEditors = [[Helen Chiu]] and [[Matthew Ostrow]]

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Nate Russell at 17:38, 27 June 2022

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Nate Russell: Nate Russell moved page Property & Debt in Family Law Matters to Property and Debt in Family Law Matters over redirect: We're removing the ampersand from the page titles (Page Resource Names)

2022-06-27T16:30:23Z

Nate Russell moved page Property & Debt in Family Law Matters to Property and Debt in Family Law Matters over redirect: We're removing the ampersand from the page titles (Page Resource Names)

← Older revision	Revision as of 16:30, 27 June 2022
(No difference)

Nate Russell at 22:53, 31 July 2019

2019-07-31T22:53:03Z

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	===Links===		===Links===

	* [http://www.clicklaw.bc.ca/resource/1240 Dial-A-Law Script "Dividing Property and Debts"]		*[http://www.clicklaw.bc.ca/resource/1240 Dial-A-Law Script "Dividing Property and Debts"]
	* [http://www.clicklaw.bc.ca/resource/1529 Justice Education Society's handbook ''Parenting After Separation: Finances'']		*[http://www.clicklaw.bc.ca/resource/1529 Justice Education Society's handbook ''Parenting After Separation: Finances'']
	* [http://www.clicklaw.bc.ca/resource/4656 Legal Services Society’s Family Law website's information page "Property & debt"]		*[http://www.clicklaw.bc.ca/resource/4656 Legal Services Society’s Family Law website's information page "Property & debt"]
	** See "Dividing property and debts"		** See "Dividing property and debts"
	* [https://www2.gov.bc.ca/assets/gov/taxes/property-taxes/property-transfer-tax/forms-publications/fin-579-manual-property-transfer-tax-return.pdf Manual Property Transfer Tax Form]		*[https://www2.gov.bc.ca/assets/gov/taxes/property-taxes/property-transfer-tax/forms-publications/ptt-003-property-transfer-tax-exemptions.pdf Ministry of Finance's ''Tax Bulletin PTT 003'']
			*[https://www2.gov.bc.ca/assets/gov/taxes/property-taxes/property-transfer-tax/forms-publications/fin-579-manual-property-transfer-tax-return.pdf Manual Property Transfer Tax Form]

	{{REVIEWED \| reviewer = [[Helen Chiu]], May 14, 2019}}		{{REVIEWED \| reviewer = [[Helen Chiu]], May 14, 2019}}

← Older revision		Revision as of 19:27, 21 May 2024
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	\| resourcetype = a fact sheet on		\| resourcetype = a fact sheet on
	\| link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]		\| link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]
	}}This chapter focuses on the division of property and debt between spouses according to ~~the laws in parts 5 and 6 of~~ the provincial ''[[Family Law Act]]''. Under these parts of the ''Family Law Act'', the term ''spouse'' ~~refers to both~~ married couples and people who lived together in a marriage-like relationship for at least two years.		}}This chapter focuses on the division of property and debt between spouses according to the provincial ''[[Family Law Act]]''. Under these parts of the ''Family Law Act'', the term "spouse" includes both ''married couples'' and ''people who lived together in a marriage-like relationship for at least two years''.

	~~Under~~ the ''Family Law Act''~~, after~~ spouses separate ~~the presumption is:~~		The basic approach to property under the ''Family Law Act'' is pretty straightforward. When spouses separate, each spouse keeps the property they brought into the relationship, as well as specific kinds of assets they got during the relationship, and the spouses equally share the rest of the property they own together or separately. The property that each spouse keeps is called "excluded property." The property they accumulated during their relationship and share is called "family property."
	* each spouse keeps the property they brought into the relationship, as well as specific kinds of assets they ~~might have acquired~~ during the relationship ~~(this is called ''excluded property'')~~, and
	* the spouses equally share the rest~~, which means most~~ of the ~~assets either one of them acquired~~ during ~~the~~ relationship~~, as well as any increase in value of excluded property (these assets are~~ called ''family property~~'')~~.

	The same rules apply to ~~debt~~. Spouses are presumed to share responsibility for the debts that accumulated during their relationship, but remain ~~individually~~ responsible for debts they had before the relationship began.		The same rules apply to debts. Spouses are presumed to share responsibility for the debts that accumulated during their relationship, but remain separately responsible for debts they had before the relationship began.

	The federal ''[[Divorce Act]]'' doesn't deal with the division of property or debt, so when you're looking at who gets what after separation you need to look at the ''Family Law Act''.		The federal ''[[Divorce Act]]'' doesn't deal with the division of property or debt, so when you're looking at who gets what after separation you need to look at the ''Family Law Act''.

	~~'''Side note:'''~~ The ''Family Law Act'' is still relatively new, having replaced the old ''Family Relations Act'' in 2013. If what you've read so far about property division seems unfamiliar, it might be because you ~~are~~ more ~~familiar with how~~ property ~~division used to work in this province before 2013~~. The ~~old legislation~~ talked about ''matrimonial property'', which made sense because it only applied to married people. ~~Another major difference was that all~~ property ~~that~~ was "ordinarily used for a family purpose" ~~(including what spouses owned before the marriage)~~ was ~~presumed to be divided up when~~ the ~~marriage ended~~. ~~When the~~ ''Family Law Act'' ~~came in, it changed the law dramatically. It broadened~~ property division to treat married couples and unmarried people in long term relationships the same. But it also narrowed down the entitlement period to focus on what was acquired, what accrued in value, and what debts were incurred while the parties were together in a relationship.		The ''Family Law Act'' is still relatively new, having replaced the old ''Family Relations Act'' in 2013. If what you've read so far about property division seems unfamiliar, it might be because you know more about the rules for dividing property under the old law. The ''Family Relations Act'' talked about "matrimonial property," which made sense because it only applied to married people. Property qualified as shareable matrimonial property if it was "ordinarily used for a family purpose," regardless of whether it was brought into the relationship or acquired afterward. The ''Family Law Act'' takes a very different approach to how property is divided.

	This introductory section of the chapter provides basic information about property and debt. It also ~~looks at~~ the rules about property that apply to couples who ~~are not~~ spouses, and ~~reviews~~ some of the income tax issues that can come up when dividing property. The sections of the chapter that follow will go into:		This introductory section of the chapter provides basic information about property and debt, including the new rules about pets. It also talks about the rules about property that apply to couples who aren't spouses, and looks at some of the income tax issues that can come up when dividing property. The sections of the chapter that follow will go into:
	* [[Basic Principles of Property and Debt in Family Law]], which covers the rules around the division of property and debt in a lot more detail,		* [[Basic Principles of Property and Debt in Family Law]], which covers the rules around the division of property and debt in a lot more detail,
	* [[Protecting Property and Debt in Family Law Matters]], which discusses the steps you can take to protect family property before and after separation, and		* [[Protecting Property and Debt in Family Law Matters]], which discusses the steps you can take to protect family property before and after separation, and
	* [[Dividing Property and Debt in Family Law Matters]], which explains how property and debt are divided by judges (~~where~~ things end with a court order) or by spouses (when ~~they can~~ reach ~~a ''separation~~ agreement'').		* [[Dividing Property and Debt in Family Law Matters]], which explains how property and debt are divided by judges and arbitrators (when things end with a court order or an arbitrator's award) or by spouses (when the spouse reach an agreement).

	==Division of property and debt under the ''Family Law Act''==		==Division of property and debt under the ''Family Law Act''==