Difference between revisions of "Protecting Property and Debt in Family Law Matters"

Protecting Property and Debt in Family Law Matters (view source)

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 | resourcetype = a fact sheet on
 | link = [http://www.clicklaw.bc.ca/resource/1639 How to divide property and debts]
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+}}It's sometimes necessary to take steps to protect family property, family debt, and excluded property until a final agreement or order dividing assets is made. Failing to take these steps can sometimes result in property being sold, lessened in value, used as collateral for a loan, moved out of province, or being seized by a trustee in bankruptcy or a creditor. Most of the time it only becomes important to protect property after a couple has separated.
-It's sometimes necessary to take steps to protect family property, family debt, and excluded property until a final agreement or order dividing assets is made. Failing to take these steps can sometimes result in property being sold, lessened in value, used as collateral for a loan, moved out of province, or being seized by a trustee in bankruptcy or a creditor. Most of the time it only becomes important to protect property after a couple has separated.
 This section reviews some important initial steps that you can take to secure family property and family debt. It also looks at the restraining orders that can stop family property from being disposed of, the problems posed by third-party claims such as debts and bankruptcy, and how assets located outside British Columbia can be protected.