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Difference between revisions of "Dividing Property and Debt in Family Law Matters"
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Dividing Property and Debt in Family Law Matters (view source)
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If spouses are able to agree on how their property and debts will be divided, they can make a separation agreement setting out the terms of their agreement. However, if they can't agree the court will make an order dividing their property and debt for them after court proceedings are started. | If spouses are able to agree on how their property and debts will be divided, they can make a separation agreement setting out the terms of their agreement. However, if they can't agree, the court will make an order dividing their property and debt for them after court proceedings are started. | ||
This | This section talks about how property and debt are divided by the court through court orders and by spouses through separation agreements. It discusses when excluded property can be shared between spouses, when family property can be divided unequally, and when the court can make orders about property located outside British Columbia. | ||
==Introduction== | ==Introduction== | ||
Whether you're able to settle how property and debt are going to be shared by agreement or if you're going to need a court order, it's important to understand how the ''[[Family Law Act]]'' works. If you're going to start a court proceeding, the court will be required to divide property using the rules set out in the act; if you're going to be able to settle your property issues, the act will be used to measure the fairness of your agreement if either of you ever | Whether you're able to settle how property and debt are going to be shared by agreement or if you're going to need a court order, it's important to understand how the ''[[Family Law Act]]'' works. If you're going to start a court proceeding, the court will be required to divide property using the rules set out in the act; if you're going to be able to settle your property issues, the act will be used to measure the fairness of your agreement if either of you ever tries to get out of the agreement in the future. | ||
===The plan of the ''Family Law Act'' for property and debt=== | ===The plan of the ''Family Law Act'' for property and debt=== | ||
Part 5 of the ''[[Family Law Act]]'' talks about the division of family property and family debt between spouses. It says what counts as shared family property and family debt, and which property is excluded from family property. It talks about when family property and family debt can be divided unequally and the circumstances in which excluded property may be divided between spouses. Part 6 talks about how pensions | Part 5 of the ''[[Family Law Act]]'' talks about the division of family property and family debt between spouses. It says what counts as shared family property and family debt, and which property is excluded from family property. It talks about when family property and family debt can be divided unequally, and the circumstances in which excluded property may be divided between spouses. Part 6 talks about how pensions ― which Part 5 says are family property ― get divided between spouses. | ||
*'''Section 97(2)(a):''' This section says that the court can make declarations concerning the possession and ownership of property and | This is how Part 5 works: | ||
*'''Section 106:''' This section says when the courts of British Columbia have the authority to divide property and debt if there is another court | |||
*'''Section 81:''' This section states the basic principle that when spouses separate, each spouse takes a one-half interest in family property as a tenant in common and each becomes responsible for one-half of the family debt. | *'''Section 97(2)(a):''' This section says that the court can make declarations concerning the possession and ownership of property and can make orders as may be necessary to give effect to such declarations. | ||
*'''Section 106:''' This section says when the courts of British Columbia have the authority to divide property and debt if there is another court that can also make orders dividing property and debt. | |||
*'''Section 81:''' This section states the basic principle that when spouses separate, each spouse takes a one-half interest in family property as a tenant in common, and each becomes responsible for one-half of the family debt. | |||
*'''Sections 84 and 85:''' These sections tell you how to figure out which property is family property and which property is excluded property. | *'''Sections 84 and 85:''' These sections tell you how to figure out which property is family property and which property is excluded property. | ||
*'''Section 94(1):''' This section gives the court the authority of the court to make orders for the division of property and debt. | *'''Section 94(1):''' This section gives the court the authority of the court to make orders for the division of property and debt. | ||
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*'''Section 109(1):''' This section allows the court to make orders for the ownership and division of property outside of British Columbia. | *'''Section 109(1):''' This section allows the court to make orders for the ownership and division of property outside of British Columbia. | ||
Interestingly, there isn't a section that | Interestingly, there isn't a section that explicitly says "the court should make orders dividing family property and family debt equally"; you have to figure this out from s. 81, which says that each spouse should have half of the family property and family debt, and from s. 94, which says that the court can make orders dividing family property and family debt. | ||
===Putting the plan into action=== | ===Putting the plan into action=== | ||
