Dividing Property And Assets For Married Couples And Common-Law Couples
For married couples, the Family Law Act specifies that upon separation each spouse is entitled to have Net Family Property equalized. This is a complex and fact specific area of law which requires a thorough understanding of the law and the facts to maximize the chances of an appropriate outcome.
With certain important exceptions, each spouse is entitled to a credit for their net worth on date of marriage. The difference between a spouse’s net worth on date of marriage and date of separation is that spouse’s net family property.
At Blackburn Lawyers, we offer legal assistance to both married couples and common-law couples throughout Richmond Hill, Ontario and the Greater Toronto Area.
Identifying Your Property Rights In A Common-Law Relationship
If you are separating after a common law relationship, your rights and obligations pertaining to property will be significantly different than if you were married. The presumption for common law couples is that property is divided in accordance with ownership.
However, if division in accordance with legal ownership will result in one spouse being unjustly enriched at the expense of the other, the law may impose a different result.
Over 35 Years Of Legal Experience Focused On A Personalized Solution For You
We make sure we identify what matters most to you, and fight to make sure your rights are protected. We utilize effective negotiation techniques developed over decades of experience to deliver legal strategies that support your position on separating your property and assets.
Once proper financial disclosure has been exchanged, we have the knowledge and experience to accurately advise you of your rights and obligations so you do not end up paying too much or receiving too little.