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Difference between revisions of "Property and Debt in Family Law Matters"
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Property and Debt in Family Law Matters (view source)
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This chapter focuses on the division of property and debt between spouses. | This chapter focuses on the division of property and debt between spouses. | ||
Under the provincial ''[[Family Law Act]]'', spouses are presumed to keep what each of them brought into their relationship and to share in the things they | Under the provincial ''[[Family Law Act]]'', spouses are presumed to keep what each of them brought into their relationship and to share in the things they acquired during their relationship. The same rules apply about debt: spouses are presumed to share responsibility for the debts that accumulated during their relationship. | ||
The federal ''[[Divorce Act]]'' doesn't talk about the division of property or debt. | The federal ''[[Divorce Act]]'' doesn't talk about the division of property or debt. | ||
This introductory section provides basic information about property and debt between spouses and summarizes how the property rules of the ''[[Family Law Act]]'' are different from the ''[[Family Relations Act]]''. It also looks at the rules about property that apply to couples who are not spouses, and some of the income tax issues that can come up when dividing property. | This introductory section provides basic information about property and debt between spouses and summarizes how the property rules of the ''[[Family Law Act]]'' are different from the ''[[Family Relations Act]]''. 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 that follow will go into the rules about the division of property and debt in a lot more detail. | The sections that follow will go into the rules about the division of property and debt in a lot more detail. | ||
