When a marriage or adult interdependent relationship ends, Alberta’s Family Property Act sets out how property and debts are divided. We help you identify what is shared, what may be exempt, and how to divide it fairly.
As a starting point, property acquired during the relationship is generally divided equally. Some property is exempt from division, such as property owned before the relationship began, gifts and inheritances from third parties, and certain damages awards, although increases in the value of exempt property may be shared. The court can depart from an equal division where that would be unjust.
The family home is often the most valuable asset and the most emotional one. Options include selling it and dividing the proceeds, or one party buying out the other. A buyout requires agreement on value, financing and how other property is balanced. Short-term questions, such as who stays in the home and who pays the mortgage, often need to be addressed first.
Property division depends on full and accurate disclosure. We obtain appraisals, account statements, pension valuations and, where a business is involved, business valuations, so that the division is based on real numbers.
Applications under the Family Property Act must be started within set time limits after separation or divorce. If you have separated, do not delay getting advice.
We list all property and debts and identify any claims for exemptions.
We obtain values as of the relevant dates.
We prepare a division proposal, including any buyout or equalization payment.
The division is recorded in an agreement or decided by a court or arbitrator.
Not as much as people think. Family property can be divided regardless of whose name is on the title or account.
The value of an inheritance received from a third party is generally exempt, but any increase in its value during the relationship, or an inheritance that has been mixed with family property, may be shared.
Alberta’s Family Property Act applies to married spouses and to adult interdependent partners. Other unmarried partners may have claims under different legal principles.
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587-393-3958Request a consultationBook a consultation online, or call us at 587-393-3958, Monday to Friday, 9:00 a.m. to 5:00 p.m.
The information on this page is general information, not legal advice, and may not reflect recent changes in the law. Contacting UMPC Law does not create a lawyer–client relationship.
UMPC Law is the trade name of Usman Mahmood Professional Corporation, a law practice in Northeast Calgary representing clients in immigration, motor vehicle accident, criminal and family matters.
Suite 210, 3132 26 Street NE
Calgary, Alberta T1Y 6Z1
587-393-3958
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info@umpclaw.ca
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9:00 a.m. to 5:00 p.m.
The information on this website is general information, not legal advice. Contacting UMPC Law does not create a lawyer–client relationship. Limitation periods and deadlines can be short; get advice promptly.
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