Difference between revisions of "Assets of Couples (3:IX)"

The FRA only applies to proceedings started prior to March 18, 2013 and to agreements made before the ''FLA'' came into force.   

The division of property on marriage breakdown is dealt with in Part 5 of both the FRA and the ''FLA''. The FRA creates a basic presumption of equal entitlement to family assets, real and personal property that is ordinarily used for a family purpose. Part 6 deals with the division of pensions. These two parts of the FRA do not apply to common law relationships, although common law partners could contract into the property provisions of the Act. Also, the rights of the parties to family assets may be resolved by agreement, mediation or litigation. All litigation relating to property must be dealt with at the Supreme Court level. The Provincial Court does not have the jurisdiction to deal with assets.  

The ''FLA'' significantly changes the property law regime in British Columbia, and reduces judicial discretion. It is a simpler model that is designed to help parties achieve resolutions out of Court. Itoperates on the presumption that spouses are equally entitled to family property that is proper and equally responsible for family debt (s 81). It also provides that unmarried spouses (who have lived together in a marriage-like relationship for at least two years) may avail themselves of the property and liability provisions of the Act in Part 5 and 6.