Divorce is really a tough thing. It can turn things upside down for the couple. From child custody to business, everything is just shattered. Let’s discuss property here. Property division too takes a major U-turn when it comes to property division. This blog further on explains some of the important things you must know about property division. Hence, if you are about to go through an unfortunate divorce, and worried about your property, reading this blog will definitely help you…
Division of Property in Divorce & Matrimonial Property Settlement
Property rights when a marriage breaks down are governed by Part I and Part II of the Family Law Act (FLA). Part II deals specifically with the division of the value of the matrimonial home, while Part I deals with all other matrimonial property. It should be noted that only couples who have entered into a legal marriage may make use of these provisions of the law. This includes same-sex couples who have married in a legal marriage ceremony. Common-law…