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Division OF PROPERTY
According to the Family Law Act marriage is considered an equal partnership. As a result, when a marriage ends the partnership is over and all of the value that has been accumulated over the course of the marriage is to be equally shared. The sharing of value is determined based on a formula contained in the Family Law Act. The formula sets out specific requirements for dealing with property owned at the date of marriage, property that may have been a gift or an inheritance during marriage and the matrimonial home. It is important to be aware that married couples may be bound by a Cohabitation Agreement or a Marriage Contract that alters the property sharing provisions of the Family Law Act.
Married Couples
According to the Family Law Act marriage is considered an equal partnership. As a result, when a marriage ends the partnership is over and all of the value that has been accumulated over the course of the marriage is to be equally shared. The sharing of value is determined based on a formula contained in the Family Law Act. The formula sets out specific requirements for dealing with property owned at the date of marriage, property that may have been a gift or an inheritance during marriage and the matrimonial home. It is important to be aware that married couples may be bound by a Cohabitation Agreement or a Marriage Contract that alters the property sharing provisions of the Family Law Act.
Unmarried Couples
Unmarried couples do not have the same legally enshrined rights as married couples to share in the property of their partner. If one party has contributed, financially or otherwise, to property of the other they may be able to advance a claim to share in property but there is no automatic right to share. These claims are very complex in nature and, depending on the value of property involved, may be best served by retaining a lawyer.
The Matrimonial Home
It is also important to note that any dwelling that married couples regularly occupy can be considered a matrimonial home. The Family Law Act provides for a spouse to seek exclusive possession of a matrimonial home pending final resolution of the matter regardless of whose name is registered on title. Unmarried couples do not have these same rights. If unmarried couples jointly own a home both have the right to stay in the home and they do not have the right to ask that the other party be excluded. As well, if the home is registered in the name of one of the parties, after separation the unmarried spouse who is not on title can be seen to be trespassing.
DIVORCE REFERENCE GUIDE
Every situation is different and the way that the law is applied to a situation will depend on the particular circumstances of each case. It is important to be aware that some laws are different for married as opposed to unmarried couples.
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