Talk:Dividing Property & Debt in Family Law Matters
Right now, this page is pretty much a narrative explanation of Part 5 without much in the way of analysis. It would be very helpful if, when we have a few cases out, certain discussions could be expanded, namely (a) defining family property, family debt and excluded property, (b) dividing things equally, (c) unequal division and division of excluded property. At some point a discussion will also need to be added to talk about how diminished value of excluded property, tracing issues and so on are dealt with by the court. JP Boyd (talk) 07:20, 20 May 2013 (PDT)
A term under the Family Law Act referring to property acquired by either or both spouses during their relationship, as well as after separation if bought with family property. Both spouses are presumed to be equally entitled to share in family property. See "excluded property."
A term under the Family Law Act referring to debt owed by either or both spouses that accumulated during the spouses' relationship, as well as after separation if used to maintain family property. Both spouses are presumed to be equally liable for family debt.
A term under the Family Law Act referring to property acquired by a spouse prior to the commencement of the spouses' relationship and certain property acquired by a spouse during the relationship, including gifts, inheritances, court awards and insurance proceedings. A spouse is presumed to be entitled to keep their excluded property without having to share it with the other spouse. See "family property," "gift," and "inheritance."