Can separate property be divided in a divorce?
Can separate property be divided in a divorce?
When a breakdown of a marriage occurs, whether it be a separation to divorce, there are several things to consider concerning home ownership. In Alberta, the Court applies the Matrimonial Property Act (MPA) to divide assets fairly. The MPA only applies to legally married spouses in Alberta.
How do you prove separate property in a divorce?
The key to proving separate property is documentation and showing a paper trail to trace your separate property. Tracing is the method used when your original separate property has changed form, been exchanged, or sold during your marriage, resulting in you owning different property at the time of divorce.
How is furniture divided in a divorce?
Take turns saying which item you want from the list. Once you or your spouse reaches half of the value of the list, the remaining items go to the other spouse. You and your spouse can also divide the property into what you agree are two “piles” of equal value. Then, flip a coin.
What is my partner entitled to if we split up?
What are my rights if I separate from my partner? Money or property in your partner’s sole name will be presumed to belong to them alone, unless you can prove otherwise. You have no right to claim financial support for yourself, although you do have the right to claim support for any dependent children.
Who gets to stay in the house during separation?
Whether or not you contributed equally to the purchase of your house or not, or one or both of your names are on the deeds, you are both entitled to stay in your home until you make an agreement between yourselves or the court comes to a decision.
How do you separate finances before divorce?
Consider freezing joint credit cards and agreeing on a set amount to pay down your debts while your divorce is pending. You may want to split debt payments down the middle, or assume responsibility for different debts. Either way, debts will be divided according to divorce proceedings.
