How Property is Divided in Separation and Divorce in Canada?

In a broader sense, separation means, couples living together as common-law couples or marriage, decide to live apart or do not continue to stay together and live separately. In the case of marriage, this living separately or separation does not end the marriage. The separation may lead to a divorce provided you fulfil the criteria and legal procedures of divorce. A divorce means when a court officially ends the marriage. Dividing your properties and other means depends solely on the manner of your separation and divorce. Get the professional and legal consultation of your separation and divorce from Andrew Heft lawyer reviews for further assistance on your divorce.

After the break of your relationship, you need to divide your properties as well as the debts you owe or need to settle. It is important that you settle the property dividing matters as soon as you separate or divorce because in some provinces, you may lose the property if you delay in claiming your share. Your property should include separate or joint bank accounts, RRSPs or Registered Retirement Saving Plans, TFSAs or Tax-Free Savings Accounts, Your home and everything in the home, all types of investments, QPP or Quebec Pension Plan and CPP or Canada Pension Plan, Pension that is sponsored by employer, insurance plans, pets and other movable and non-movable properties. Similarly, your debts should include mortgages, credit or personal loan including car loan, credit card debt etc.

The nature of dividing your property is determined by the federal, provincial or territorial laws and it depends on which province or territories you live, the authenticity of your marriage and/or the common-law relationship.

In the case of a common-law relationship, the property remains with the party who bought it. If you have helped in buying or taking care of the property of your former partner, you should have the right over that property. In the case of disputes, you are entitled to approach the court to avail a share of this property.

In the case of marriage and divorce, normally all the properties you bought during the marriage period is equally divided between the couple. However, there are a few exceptions in dividing the property in the case of marriage and divorce. You can compromise and divide the property as per your own agreement and understandings. The court may also divide the property unevenly depending on the ownership of the property. In the cases of prenuptial or cohabitation agreement signed prior to the divorce, which is also called marriage contract, all depends on the judge who will decide the property divide based on the circumstances.