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Difference between revisions of "Introduction to Family Law in British Columbia"
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Introduction to Family Law in British Columbia (view source)
Revision as of 14:02, 12 May 2013
, 14:02, 12 May 2013→Dividing family property and family debt
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Married spouses and unmarried spouses who have lived together for at least two years are each entitled to half of the ''family property'' when their relationships end. Family property includes: | Married spouses and unmarried spouses who have lived together for at least two years are each entitled to half of the ''family property'' when their relationships end. Family property includes: | ||
*the property the spouses got during their relationship, | *the property the spouses got during their relationship, including real estate as well as personal property, | ||
*bank accounts, investments, RRSPs and pensions, | *bank accounts, investments, RRSPs and pensions, | ||
*the interest of a spouse in a company, business or partnership, | *the interest of a spouse in a company, business or partnership, | ||
*debts owed to a spouse, and | *debts owed to a spouse, and | ||
*the | *the increase in value of "excluded property" during the relationship. | ||
Each spouse is entitled to keep his or her ''excluded property''. Excluded property includes: | Each spouse is entitled to keep all of his or her ''excluded property''. Excluded property includes: | ||
*the property owned by each spouse on the date | *the property owned by each spouse on the date they began to live together or the date they married, whichever is earlier, | ||
*gifts or inheritances received during the | *gifts or inheritances received during the relationship, | ||
*certain kinds of court awards and insurance payments made during the relationship, and | *certain kinds of court awards and insurance payments made during the relationship, and | ||
*property bought during the relationship with excluded property. | *property bought during the relationship with excluded property. | ||
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Each spouse is also responsible for half of the ''family debt''. Family debt includes: | Each spouse is also responsible for half of the ''family debt''. Family debt includes: | ||
*all debts incurred by either spouse during | *all debts incurred by either spouse during the relationship, and | ||
*debt incurred after separation, if the debt was incurred to maintain family property. | *debt incurred after separation, if the debt was incurred to maintain family property. | ||
