Understanding the Matrimonial Property Law in Alberta
Getting married is one of the most significant decisions in a person's life. It's a declaration of love and commitment to another person and a legal contract that affects many aspects of your life. One of the most essential elements of marriage is the division of matrimonial property in case of divorce or separation.
Here are ten things you need to know about matrimonial property division in Alberta.
1. What Is Matrimonial Property?
Matrimonial property is any property acquired during the marriage by either spouse. This includes real estate, personal property, and any other assets that are owned by the couple, regardless of who paid for them.
2. How Is Matrimonial Property Divided in Alberta?
In Alberta, matrimonial property is divided equally between spouses. This means that each spouse is entitled to half of the value of the matrimonial property, regardless of who paid for it.
3. What Is Exempt Property?
Exempt property is a property that is excluded from the division of matrimonial property. Exempt property includes property that one spouse owned before the marriage, inherited or gifted to one spouse during the marriage, and property that one spouse acquired after the couple separated.
4. What Is a Matrimonial Home?
A matrimonial home is the family home where the couple lived during the marriage. The matrimonial home is treated differently from other types of matrimonial property. In Alberta, the matrimonial home is divided equally between spouses.
5. Can Spouses Agree on the Division of Matrimonial Property?
Spouses can agree on the division of matrimonial property through a separation agreement. A separation agreement is a legal document that outlines how the couple's property will be divided, and both spouses must sign it.
6. What Happens If Spouses Can’t Agree on the Division of Matrimonial Property?
If spouses can't agree on the division of matrimonial property, they can go to court to have the court decide how the property will be divided. In this case, the court will consider factors such as the length of the marriage, the financial situation of each spouse, and the contributions made during the marriage.
7. Can Spouses Keep Their Property after Divorce?
Spouses can keep their property after divorce if it is exempt property. Exempt property is not subject to division, and each spouse is entitled to keep their exempt property.
8. Can Spouses Sell Matrimonial Property before Divorce?
Spouses can't sell a matrimonial property without the other spouse's consent before the divorce. If one spouse sells the matrimonial property without the other spouse's consent, the other spouse can go to court to declare the sale invalid.
9. Can Spouses Change the Division of Matrimonial Property after Divorce?
Spouses can't change the division of matrimonial property after the divorce is finalized. Once the court has decided on the division of matrimonial property, it is final and binding.
10. How Can a Family Lawyer Help with Matrimonial Property Division?
A family lawyer can help with matrimonial property division by providing legal advice on the division of property, preparing separation agreements, and representing clients in court.
Understanding the rules and regulations that govern property division can help spouses make informed decisions about their property rights. If you are going through a divorce or separation and need help with property division, it's essential to seek the advice of a family lawyer who can guide you through the process.
Are you looking for a trusted medicine hat law firm? Look no further than Hamilton Cahoon Law. Our experienced lawyers can assist you with all your legal matters, from family law to personal injury. Contact us today!