Dividing Property and Debt in Family Law Matters: Difference between revisions
Jump to navigation
Jump to search
Dividing Property and Debt in Family Law Matters (view source)
Revision as of 20:55, 24 April 2013
, 24 April 2013→Property and debt inside British Columbia
Gayla Reid (talk | contribs) |
Gayla Reid (talk | contribs) |
||
| Line 212: | Line 212: | ||
#make orders transferring property to a spouse. | #make orders transferring property to a spouse. | ||
Under s. 97, the court can make whatever orders are needed to equally divided family property and family debt between spouses, whatever extra orders are needed to divide family property and family debt unequally under s. 95 and whatever extra orders are needed to divide excluded property under s. 96. | Under s. 97, the court can make whatever orders are needed to equally divided family property and family debt between spouses, whatever extra orders are needed to divide family property and family debt unequally under s. 95, and whatever extra orders are needed to divide excluded property under s. 96. | ||
====Interim orders==== | ====Interim orders==== | ||
| Line 223: | Line 223: | ||
#the cost of the court proceeding, | #the cost of the court proceeding, | ||
#the cost of another dispute resolution process, like mediation, arbitration and collaborative settlement processes, and | #the cost of another dispute resolution process, like mediation, arbitration, and collaborative settlement processes, and | ||
#the cost of expert's reports, like needs of the child assessments under s. 211, property assessments or business valuation. | #the cost of expert's reports, like needs of the child assessments under s. 211, property assessments, or business valuation. | ||
=====Use of property===== | =====Use of property===== | ||
| Line 242: | Line 242: | ||
<blockquote><blockquote><blockquote><tt>(ii) vesting all or a portion of property in, or in trust for, the applicant.</tt></blockquote></blockquote></blockquote> | <blockquote><blockquote><blockquote><tt>(ii) vesting all or a portion of property in, or in trust for, the applicant.</tt></blockquote></blockquote></blockquote> | ||
A couple of important points about this section deserve mention | A couple of important points about this section deserve mention: | ||
#the order ''must'' be made when a spouse asks for it, unless the other spouse can show that there are sufficient assets so that the claim to the property won't be frustrated if he or she happens to sell some of the assets, | #the order ''must'' be made when a spouse asks for it, unless the other spouse can show that there are sufficient assets so that the claim to the property won't be frustrated if he or she happens to sell some of the assets, | ||
| Line 250: | Line 250: | ||
This is a powerful order and you should probably think about asking for this order if you are asking for a share of property. This is just a matter of being prudent. You may have no cause to believe that your spouse would do something that would jeopardize your interests, but it almost always pays to be cautious. | This is a powerful order and you should probably think about asking for this order if you are asking for a share of property. This is just a matter of being prudent. You may have no cause to believe that your spouse would do something that would jeopardize your interests, but it almost always pays to be cautious. | ||
Rule 12-4 of the Supreme Court Family Rules gives the court the authority to make a general restraining order, called an ''injunction'', to require someone to do something or not do something. The same authority is given to the court by s. 39 of the provincial ''[http://canlii.ca/t/8459 Law and Equity Act]''. See | Rule 12-4 of the Supreme Court Family Rules gives the court the authority to make a general restraining order, called an ''injunction'', to require someone to do something or not do something. The same authority is given to the court by s. 39 of the provincial ''[http://canlii.ca/t/8459 Law and Equity Act]''. See this chapter's section on [[Protecting Property and Debt]] for more information about protecting property. | ||
====Dividing property and debt equally==== | ====Dividing property and debt equally==== | ||
Under s. 81(a) of the ''[[Family Law Act]]'', "spouses are both entitled to family property and responsible for family debt, regardless of their respective use or contribution" | Under s. 81(a) of the ''[[Family Law Act]]'', "spouses are both entitled to family property and responsible for family debt, regardless of their respective use or contribution." Under s. 81(b), each spouse's share of the family property is presumed to be an "undivided half interest" and each spouse is "equally responsible for family debt." Section 97 gives the court the ability to make whatever orders are necessary to divide family property and family debt between spouses. | ||
Section 84 says what family property is: | Section 84 says what family property is: | ||