Difference between revisions of "Basic Principles of Property and Debt in Family Law"

}}Under the ''[[Family Law Act]]'', spouses who are married or who lived together in a marriage-like relationship for at least two years are entitled to share in the property they acquired during their relationship, and to keep any property they each brought into the relationship. The same thing goes for debt. Spouses are equally responsible for the debt they accumulated during the relationship, but they are separately responsible for any debt that they had going into the relationship.

This section talks about how property and debt are divided between spouses under the ''Family Law Act'' and how they used to be divided under the ''[[Family Relations Act]]'', what property is shareable family property, and what property is excluded from division. It also looks at the role marriage agreements and cohabitation agreements can play in controlling the impact of the ''Family Law Act''.