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Difference between revisions of "Dividing Property and Debts"
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→The basic principles of the Family Law Act
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*Each spouse is entitled to one-half of the property bought during their relationship, plus one-half of the increase in value of each other’s excluded property. The property spouses are entitled to share is called “family property”. | *Each spouse is entitled to one-half of the property bought during their relationship, plus one-half of the increase in value of each other’s excluded property. The property spouses are entitled to share is called “family property”. | ||
*Each spouse is responsible for one-half of the debt accrued during the relationship, including any debt incurred after separation to maintain family property. The debt spouses are obliged to share is called “family | *Each spouse is responsible for one-half of the debt accrued during the relationship, including any debt incurred after separation to maintain family property. The debt spouses are obliged to share is called “family debt”. | ||
==What is “family property”? == | ==What is “family property”? == | ||