Assets of Couples (3:IX): Difference between revisions
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== B. Legislation == | == B. Legislation == | ||
=== 1. Divorce Act [DA] === | |||
The DA does not deal with property division. | The DA does not deal with property division. | ||
=== 2. Family Law Act [FLA] === | |||
Section 81 of the FLA outlines that each spouse is entitled to an undivided, one-half interest of family property and is equally responsible for debt upon separation (Stonehouse v Stonehouse, 2014 BCSC 1057; Joffres v Joffres, 2014 BCSC 1778). However, the FLA substantially changes what is considered to be family property, essentially allowing spouses to keep property they bring into a relationship and share only in the increase in value of that property and the net value of new property obtained after cohabitation or marriage. | Section 81 of the FLA outlines that each spouse is entitled to an undivided, one-half interest of family property and is equally responsible for debt upon separation (Stonehouse v Stonehouse, 2014 BCSC 1057; Joffres v Joffres, 2014 BCSC 1778). However, the FLA substantially changes what is considered to be family property, essentially allowing spouses to keep property they bring into a relationship and share only in the increase in value of that property and the net value of new property obtained after cohabitation or marriage. | ||
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** (ii) A beneficial interest acquired by at least one spouse in property if the beneficial interest is derived from property referred to in paragraph (a) (i) or from a beneficial interest referred to in paragraph (a) (ii), or from the disposition of either. | ** (ii) A beneficial interest acquired by at least one spouse in property if the beneficial interest is derived from property referred to in paragraph (a) (i) or from a beneficial interest referred to in paragraph (a) (ii), or from the disposition of either. | ||
=== 3. Supreme Court Family Rules [SCFR] === | |||
The Supreme Court Family Rules contain a number of procedural provisions for dealing with property. | The Supreme Court Family Rules contain a number of procedural provisions for dealing with property. | ||
