property division Archives

Hot real estate market creates issues with property division

A real estate market that has been on fire for some time in Vancouver has created a new set of issues for divorcing couples. Real estate transactions in British Columbia have been steaming, which makes the issue of property division in the province somewhat more complicated. Any property owned by spouses on their separation date is considered family property and is on the block for division, no matter whose name is on the deed.

Property division: How does an inheritance figure into a divorce?

If a married individual is gifted with a sizable amount of money and the relationship breaks down, is it fair that the money should be split upon divorce? When it comes to property division issues in Canada, a person can protect an inheritance if a marriage ends in divorce. The most obvious way is with either a prenuptial agreement prior to getting married or a postnuptial agreement once the parties are already married.

Same-sex divorce and property division in British Columbia

Marriage is different in the 21st century and so is divorce. With same-sex marriage legal in Canada, same-sex spouses who are divorcing have similar issues to address. One of those concerns is property division. Laws affecting most marriage and family issues are put in place by individual provinces. In British Columbia same-sex couples have the same rights as heterosexual couples do when it comes to family law.

The marital home may be the trickiest part of property division

During the course of a marriage, the typical married couple accumulates a wide variety of assets, from stamp collections to silverware. For most, the marital home tops them all for value, and its disposition is the most important consideration during the process of property division. Choosing what to do with it may not be easy, but for those who sell, specialized help may be available.

More facts about property division in British Columbia

When a marriage or marriage-like relationship ends, one life suddenly becomes two. As the couple splits apart, so too must all their belongings. During the process of property division, the combined assets and liabilities of a couple are spread between the former partners before they go off to live separately. Here are some answers to the questions men and women may have about dividing assets in British Columbia.

Pre-plan property division with a marriage agreement

A marriage agreement is not the kind of thing two starry-eyed newlyweds discuss across a bistro table at a British Columbia ski resort. It is, however, an important topic for any married couple, especially after assets have accumulated over the years. Though no happily married couple wants to get a divorce, it may be comforting to know that if it should ever happen, the complex and contentious matter of property division is already dealt with.

Basics to know about property division in British Columbia

The accumulated assets of a marriage can sometimes be substantial. In fact, some people may not be aware exactly how extensive their holdings are until it comes time to split them up during a divorce. For those with questions about property division in British Columbia, here some useful facts on the subject.

Assets should not be hidden during property division

When it comes to divorce, both parties typically want to move on as quickly as possible, but with the assurance that a fair settlement has been reached. Understandably, two people who feel they can no longer continue together may have differing ideas on the definition of "fair". At times, some parties may be tempted to eschew full disclosure during the property division process. But is this permissible in British Columbia?

Accurate Asset Valuation — Key To A Fair Division Of Family Property

When deciding on how to divide family property, divorcing parties have the choice of either privately negotiating and drawing up their own written agreement or having a judge decide on the matter. But whichever avenue you decide to pursue, achieving a fair division starts with accurate valuation of every divisible asset.

Contact Us for an Appointment