View source for Dividing Property and Debts

==Common questions==

===When are family property and family debt divided?===
Family property and family debt are divided as of the '''date the spouses separate'''. On their separation date, each spouse becomes:

* a half-owner of all family property as a tenant-in-common (where a person owns a specific share in the property)
* responsible for half of the family debt

===Is an inheritance family property?===
Generally speaking, no. An inheritance that a spouse receives before or during a relationship is part of that spouse’s '''excluded property'''. But if an inheritance increases in value during the relationship, that '''increase''' is family property.

Also, in some unique circumstances, an inheritance can lose its excluded status. If an inheritance is in play, you should get legal advice from a family lawyer.

===Are RRSPs and pensions family property?===
Yes. Any registered retirement savings plans (RRSPs) or benefits in a pension plan that each spouse built up during the relationship is family property. The law has special rules for dividing most kinds of pension plans. There are separate rules for dividing Canada Pension Plan credits and other pensions not found in the ''Family Law Act''.

{| class="wikitable"
|align="left"|'''Tip'''
Dividing pensions is complicated. You should get help from a lawyer with this. In the meantime, the Family Law in BC website from Legal Aid BC has [https://family.legalaid.bc.ca/finances-support/property-debt/dividing-pensions-and-other-benefits-after-you-separate information about dividing pensions and other benefits].
|}

===What happens if a spouse tries to hide or sell property?===
If a spouse tries to limit or interfere with the other spouse’s property interest, a court can:

* stop the property from being transferred to a third person
* reverse a transfer that’s already occurred, whether before or after separation
* make a '''compensation order''' to the other spouse

===Do I have to go to court?===
You don’t have to start a court case to divide property or debt. Also, if you’re married, you don’t need to get a divorce order first. You and your spouse can make an agreement to divide property and debt.

But if you and your spouse can’t agree, you’ll need to apply to court for an order dividing property and debt. There’s a '''deadline''' for starting this action. You have to start it '''two years''' from the date of divorce (for married spouses) or the '''date of separation''' (for unmarried spouses).