Family Property Guide Series | Issue One
🔹 In Simple Terms
Not necessarily.
The name registered on title is important, but in Alberta it does not, by itself, necessarily determine the final division of family property on separation. The legal result can depend on the facts, the applicable legislation, and any valid agreement between the parties.
🔹 Common Considerations
- When was the property acquired? A home acquired during the relationship may be treated differently from a home owned before the relationship began.
- Is any portion potentially exempt? In some cases, value traceable to pre-relationship ownership, a third-party gift, or an inheritance may be treated differently under Alberta law.
- Where did the down payment come from? The source of the funds can matter. Clear records may be important if one party later claims that all or part of the property should be treated differently.
- Who contributed to the property? Mortgage payments, carrying costs, improvements, and other contributions may all form part of the overall analysis.
- Is there a Cohabitation Agreement or Marriage Agreement? A properly prepared agreement may set out how property is to be treated, provided the legal requirements for such an agreement have been met.
🔹 Why Title Alone Is Not the Whole Answer
Two couples can have homes registered in the same way and still face very different outcomes on separation. Before drawing conclusions, it is important to review the title, the timing of the purchase, the source of funds, the parties’ contributions, and any agreement between them.
🔹 Practical Planning Points
- Keep clear records of the source of the down payment and other major contributions.
- Document whether money from parents or other family members is intended as a gift or a loan.
- If you are buying together with unequal contributions, consider documenting the arrangement at the outset.
- Obtain legal advice before relying on assumptions based only on the name on title.
- The name on title is an important part of the analysis. It is not necessarily the end of it.
Disclaimer
This article is provided for general informational purposes only and does not constitute legal advice. It is not a complete statement of the law and should not be relied upon as advice for any specific situation.
Reading or receiving this article does not create a lawyer-client relationship with Bayview Law. Anyone requiring advice regarding a particular matter should obtain legal advice based on their own circumstances.
Author: Mara Li