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Difference between revisions of "Basic Principles of Property and Debt in Family Law"
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Basic Principles of Property and Debt in Family Law (view source)
Revision as of 19:30, 18 July 2019
, 19:30, 18 July 2019→Excluded property
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Perhaps most importantly, under section 85(1)(g), excluded property includes property bought during the relationship with excluded property. Say, for example, that a spouse receives an inheritance of $10,000 and buys a collection of vintage Pyrex. The Pyrex collection would be that spouse's excluded property because it was bought with excluded property, even if the Pyrex collection was used in the day-to-day course of the couple's life together. Remember, whether something was "ordinarily used for a family purpose" is not a consideration under the ''Family Law Act''. | Perhaps most importantly, under section 85(1)(g), excluded property includes property bought during the relationship with excluded property. Say, for example, that a spouse receives an inheritance of $10,000 and buys a collection of vintage Pyrex. The Pyrex collection would be that spouse's excluded property because it was bought with excluded property, even if the Pyrex collection was used in the day-to-day course of the couple's life together. Remember, whether something was "ordinarily used for a family purpose" is not a consideration under the ''Family Law Act''. | ||
However, where a married person puts what would be excluded property in the name of the other spouse, it may be that the excluded property becomes family property. Similarly, where one spouse's parent gives money or property during the relationship, the other spouse might argue that it was a gift to the couple and is not excluded property. The law in this area is in flux (as there are currently two lines of authority), so it is difficult to give a definitive answer as to what law applies. Even lawyers find this area of law difficult, so do not be upset if you are confused about this area of law. | However, where a married person puts what would be excluded property in the name of the other spouse, it may be that the excluded property becomes family property. Similarly, where one spouse's parent gives money or property during the relationship, the other spouse might argue that it was a gift to the couple and is not excluded property. The law in this area is in flux (as there are currently two lines of authority), so it is difficult to give a definitive answer as to what law applies. Even lawyers find this area of law difficult, so do not be upset if you are confused about this area of law. If you are intent on reading the cases, a reasonably recent Supreme Court decision, ''[http://canlii.ca/t/hxbcm McManus v McManus]'', 2019 BCSC 123, cites and discusses several of the leading cases (see paragraph 27 of the decision). | ||
====Taking stock at the beginning of a relationship==== | ====Taking stock at the beginning of a relationship==== | ||