BC Family Law Act Misconceptions: Excluded Property & Division of Property
Flipping Out Over the FLA – Part 2
BC Family Law Act Misconceptions
Despite the fact that the B.C. Family Law Act has now been in force for over two years, we are finding that many of our clients have misconceptions about the content of the Family Law Act. This two-part blog series is intended to demystify some of the most-commonly occurring misconceptions and provide some clarity about key portions of the Family Law Act (FLA).
Misconception #3: All property owned by a spouse prior to a relationship will be protected from division.
The Correction: Although the FLA provides for the protection of what is called “excluded property” which includes property owned by one spouse prior to the commencement of the relationship, the Act also requires the evaluation of whether the excluded property has increased in value since the beginning of the relationship and the subsequent division of that growth. What this means practically is that a party can bring property into a relationship, but if the property increases in value, they may have to share that growth with their spouse.
Misconception #4: All family property will be equally divided.
The Correction: While the FLA provides for the equal division of family property, spouses can apply to the Court to have property divided on an equal basis if an equal division would be significantly unfair. The Court can consider a variety of factors including the contributions of one spouse to the career of the other and the duration of the relationship.
Related BC Family Law Information
- 5 Things to Know about the BC Family Law Act
- Agreements in Family Law
- BC Family Law Act Misconceptions: Common Law & Divorce