During the dissolution of a marriage or common law relationship, property division is part of the larger process of dividing all outstanding assets and debts that have been incurred during the length of the relationship. This property can include everything from homes and vehicles, to bank accounts and the ownership of investments. The legal team at R&S Lawyers has the knowledge and the patience to work with clients in the Brampton, Mississauga and Caledon communities to reach property division agreements that are agreeable to all parties and meet all legal requirements.
The Division Process
The first step in determining property claims is for each spouse to calculate the value of their net family property by listing their acquired assets at the time of separation and their total value. There are amounts that can be legally deducted, including:
Debts owing upon separation
The property brought into the marriage
Any inherited property
Compensation for personal injury
There are many more steps that follow, as property division can be a legally complex process. It is important to note that while there are legal guidelines for the property division of common law relationships, they are not the same as those for marriages. Our team is committed to helping all of our clients navigate the process of asset division, and reach agreements that are legally sound and acceptable to everyone involved.
Call today to speak to our lawyers and learn more about property division.