Separating couples have a lot to sort out. One of the issues that is on the table when a couple decides the marriage has come to an end is the division of property. But it can get a little tricky in British Columbia if one of the spouses declares personal bankruptcy after having separated. Pensions are usually considered during the divorce or separation.
A breakup can be complicated, both emotionally and practically. Couples often express their bond with each other by accumulating things as partners, such as a home, vehicles, jewelry or other valuables. British Columbia laws for division of property are not limited to married couples. If two people have lived together as if they were married for two years or longer, the laws for asset division may apply. Therefore, it is important for all couples going through a breakup to understand their rights and what they might expect from the legal process.
Many people consider their pets to be part of the family. So when Alberta couples get divorced, there could be some nastiness about who gets to keep Fido or Fluffy when it comes time to discuss division of property. In the eyes of the law in Alberta, pets are considered to be property, but for many couples, they're also furry children. The Family Law Act entitles both spouses to equal rights when it pertains to family property, hence to their pets.
There's an old adage that says nothing lasts forever. No British Columbia couple heading down the aisle thinks they will one day be facing divorce, which encompasses having to deal with issues such as the division of property. So, some experts are actually saying couples should plan for a breakup before their marriages actually break down. Failing to plan for unforeseen events could have even more devastating consequences.
Yours, mine and ours. That's the way things work in British Columbia when it comes to the division of property in a divorce situation. Assets can include all types of things from motorcycles, vehicles, property and furry family members. A lot of contention is enmeshed with vehicles that both individuals in the relationship might use. To whom do they really belong?
Couples who have been living together without getting formally married have some considerations when they decide to separate. When it comes to the division of property, Alberta common law couples -- those who have been living together for three or more years or less than that if they have a child together -- will soon be governed by laws under the Adult Interdependent Relationship Act (AIRA). The law comes into effect on Jan. 1, 2020.
Couples who are married or who are living together and decide to end their relationships have many issues to consider, and one is how to divide what they jointly own. When couples decide to divorce or to separate and they own property, they must discuss the division of property as part of a divorce settlement or separation agreement. In British Columbia the same rules apply to couples who are married and those who have been in a common law union for two or more years.
When married couples decide to end their partnership, they get a divorce. Specific legislation outlines the rights of each partner when dividing the different aspects of their shared lives.
Dividing property in a divorce or separation can cause stress and concern for many people.
When two people divorce, they must fully and honestly disclose their assets and liabilities. This is necessary to ensure the division of property is fair.