How is Property Division Decided in British Columbia Divorces?

If you are facing a divorce in Victoria or Kimberley, British Columbia, understanding how your property will be divided is crucial to navigating the process. The division of assets is often one of the most significant aspects of a divorce, and the laws surrounding it can be complex.

At Align Family Law, we help families throughout British Columbia understand and navigate property division in divorce and separation cases. Whether you’re seeking assistance with family law issues or you need support with property division, our team is here to guide you every step of the way. 

In this blog, we’ll cover how property division is decided in Victoria and Kimberley divorces, including how property is classified, the factors that influence its division, and what you can do to protect your rights.

When it comes to property division, British Columbia follows the guidelines outlined in the Family Law Act. This law states that property acquired during the marriage is typically divided equally between spouses unless there is a valid reason to depart from this equal division.

One of the first steps in understanding property division is knowing the difference between family property and excluded property.

Family Property includes assets and debts accumulated during the marriage. This can cover a wide range of items, such as:

• Homes
• Vehicles
• Bank accounts and savings
• Pensions
• Investments

These assets are usually divided equally between the spouses, unless there is a specific agreement or court order stating otherwise.

Excluded Property, on the other hand, typically refers to property acquired before the marriage or after separation. Additionally, any inheritances or gifts received by one spouse are considered excluded property, provided that these items were not mixed with family property. Generally, a party can claim the value of the asset at the date of cohabitation, but the increase in value of that asset is family property, subject to equal division.

While the general rule is equal division of family property, the court may take several factors into account when making a final determination. Some of the most significant factors include:

• Contributions of Both Spouses: This can include financial contributions, such as income earned and property purchased during the marriage, and non-financial contributions, such as homemaking and raising children.
• Length of the Marriage: The longer the marriage, the more likely it is that the property will be divided equally. In short marriages, however, the division may not be as straightforward.
• Debts: Just as property is divided, any debts acquired during the marriage are considered family debts. Both spouses are generally responsible for splitting these debts equally.
• Need for Fairness: Section 95 of the Family Law Act allows for unequal division if equal division would be “significantly unfair.” This is a high threshold.

If both parties can’t reach an agreement on property division, the matter may need to be settled through the courts. This can involve mediation, negotiations, or a trial.

Align Family Law can help you explore all your options, whether that’s negotiating a fair settlement or advocating on your behalf in court. Our divorce lawyers will ensure that your rights are protected throughout the process.

If you’re going through a divorce, there are a few things you can do to protect your property rights: 

• Keep Track of Financial Documents: Always keep copies of financial documents, including bank statements, tax returns, and asset evaluations. This can help you prove what assets belong to you and what was acquired during the marriage.
• Consider a Separation Agreement: If you and your spouse can agree on the division of property, a separation agreement can help formalize your arrangement.
• Seek Legal Advice: Our team can help you navigate the complexities of property division, ensuring that your rights are protected and that you understand the legal implications of your decisions.

At Align Family Law, we understand the stress and complexity that comes with divorce, especially when it comes to property division. Our team has years of experience helping individuals throughout Victoria and Kimberley, British Columbia, reach fair and equitable property division settlements.

We’re here to give you the support and guidance you need to make informed decisions about your future. Whether you’re going through a contested or uncontested divorce, we’re committed to ensuring that your property rights are respected.

If you’re facing a divorce in British Columbia, having an experienced family lawyer by your side can make a significant difference. Align Family Law offers personalized legal services designed to protect your interests and help you through the divorce process with confidence.

With offices located in Victoria and Kimberley, we are proud to serve families across British Columbia. Contact us today to schedule a consultation and learn more about how we can assist with your divorce and property division case.