Property Division - Married Spouses

Division of property between married spouses has been governed by provincial legislation going back to 1978. After this inception for 40 years the Matrimonial Property Act governed property division for separating married spouses between January 1, 1979 to December 31, 2019. 

On January 1, 2020 the Family Property Act was then enacted so that property division between married and adult interdependent partners (“common law” partners) are now governed by the same provincial legislation.

There are specific provisions in the Family Property Act that differ from that of the Matrimonial Property Act, so it is important that clients understand this if they were previously aware of the Matrimonial Property Act.

Individuals need to understand that each province has foundational differences in their provincial property division regulation. For example, the date of separation in Alberta does not equate to crystallization and valuation of assets and debts such as which occurs in other provinces. 

The valuation of assets and rules around property division as a standard practice extends far beyond a separation date to the shock of many individuals when separating.   

It is essential that when assessing property division entitlement that clients obtain timely legal information and advice.

Kindly contact our office to speak to an experienced family lawyer who has negotiated detailed property division between separating spouses. 

Links: https://www.canlii.org/en/ab/laws/stat/rsa-2000-c-f-4.7/latest/rsa-2000-c-f-4.7.html

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