Difference between revisions of "Property and Debt in Family Law Matters"

Jump to navigation Jump to search
m
Line 16: Line 16:
The parts of the ''[[Family Law Act]]'' that talk about the division of property and debt apply to people who are ''spouses''. The definition of spouse for these parts of the act are a bit different from the rest of the act. For the division of property and debt, a spouse is:
The parts of the ''[[Family Law Act]]'' that talk about the division of property and debt apply to people who are ''spouses''. The definition of spouse for these parts of the act are a bit different from the rest of the act. For the division of property and debt, a spouse is:


#someone who is married or was married to someone else, or
*someone who is married or was married to someone else, or
#someone who is or was living in a "marriage-like relationship" with someone else for at least two years.  
*someone who is or was living in a "marriage-like relationship" with someone else for at least two years.  


People who lived together for less than two years are ''not'' spouses for these parts of the ''[[Family Law Act]]'', whether they've had a child together or not.
People who lived together for less than two years are ''not'' spouses for these parts of the ''[[Family Law Act]]'', whether they've had a child together or not.
Line 32: Line 32:
The ''[[Family Law Act]]'' talks about three things when it comes to dividing property and debt: ''family property'', ''excluded property'', and ''family debt''.  
The ''[[Family Law Act]]'' talks about three things when it comes to dividing property and debt: ''family property'', ''excluded property'', and ''family debt''.  


All property owned by either or both spouses (including property owned by a spouse jointly with a third party such as a parent) at the date of separation is ''family property'' unless it is ''excluded property''. Family property includes things like real property, bank accounts, pensions, business, debts owing to a spouse, and so forth. Family property is presumed to be shared equally between spouses, regardless of their use of or contribution to that property.
All property owned by either or both spouses (including property owned by a spouse jointly with a third party such as a parent) at the date of separation is ''family property'' unless it is ''excluded property''. Family property includes things like real property, bank accounts, pensions, businesses, debts owing to a spouse, and so forth. Family property is presumed to be shared equally between spouses, regardless of their use of or contribution to that property.


''Excluded property'' is any property that is excluded from the pool of family property to be split between spouses. This includes the property a spouse owned before the date of marriage or the date the spouses began living together, whichever is earlier, plus certain kinds of property acquired during the spouses' relationship, including:
''Excluded property'' is any property that is excluded from the pool of family property to be split between spouses. This includes the property a spouse owned before the date of marriage or the date the spouses began living together, whichever is earlier, plus certain kinds of property acquired during the spouses' relationship, including:

Navigation menu