Divorce & separation

How to write your own separation agreement

Section 5: Property (Optional)

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After you separate, each spouse has a right to half of all family property, unless you have an agreement that says you'll divide your property differently.

Family property includes the normal things you would expect, such as your family home, its contents, and your car. It also includes other things you might not think of, such as:

  • RRSPs
  • investments
  • bank accounts
  • pensions
  • insurance policies
  • an interest in a business

It doesn't matter whose name the property is in. For more information, see our fact sheet How to divide property and debts.

This applies whether you're married or you lived in a marriage-like relationship (common-law) for at least two years.

You can agree to divide your family property unequally. If there's a dispute about this and you have to go to court, the judge/master's starting point will be that each of you owns half of the family property.

If one of you challenges an agreement that divides family property unequally, the judge/master will look carefully at how you reached that agreement. (For example, was all information shared? Did one party take advantage of the other?) They'll also look at whether the agreement is "significantly unfair." For more information, see our fact sheet Making an agreement after you separate.

Excluded property

Family property doesn't include excluded property. You don't have to split the value of excluded property equally if you separate or divorce. This includes property that you had before your relationship started. This also includes gifts and inheritances you got during the relationship. For more information, see our fact sheet How to divide property and debts.

But if that excluded property increases in value while you live together, the increase is considered family property. You're each entitled to half of the increased value. For example, if you owned a house before you started living together, your spouse wouldn't be entitled to an equal share of the house's value after you separate. But they would be entitled to half of however much the house's value increased since you started living together.

Not all types of property are covered in this section. Other options are available in the CLEBC Manual.

Important: You must share information about all your property, whether you own it together or separately. This is so it can be dealt with fairly and your agreement will stand up in court.

 

Your basic information — Instructions

In the Short name text boxes, enter the short names for you and the other party. Use the same short names you entered in the Introductory clauses.

Once you've entered your names, they'll appear below in place of Party 1, Party 2, or Name.

Your basic information

If one party doesn't disclose all of their assets

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You must share information about all your property, whether you own it together or separately. This is so it can be dealt with fairly and your agreement will stand up in court.

Include paragraphs 1 4 in your agreement if you want to set out what will happen if one party doesn't disclose all of their assets to the other.

Tip: Remember that all the paragraphs below are automatically included in your text file unless you click Don't include. If you change your mind, you can always include the paragraph again by clicking Include.

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 1, in the text box, enter the minimum amount of any asset either party must disclose to the other party.

When this agreement is signed, if a party has failed to disclose family property that is worth more than , the party that did not know about the asset is entitled to:

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a half interest in the undisclosed assets.

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have the undisclosed assets placed for sale immediately and have the proceeds divided equally between the parties.

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have an accounting and division of any profits the non-disclosing party made from keeping or using the undisclosed assets.

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Family home

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If your family owns a home, you have three main options after separation:

  • sell the home and split what's left after you pay the mortgage and other financial obligations;
  • one party stays in the family home and:
    • buys out the other's share, or
    • has the value of the other party's share added into an overall settlement (pay out); or
  • the primary caregiver stays in the home until the children reach a certain age.

Define the family home

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It's important to identify your family home so that there's no confusion as to which property you're referring to.

In the text box, enter the street address of your family home. The rest of the agreement will refer to it as "the family home."

The property at is the family home.

Sell the family home

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Include these paragraphs if you plan on selling your family home. It's also important to think about:

  • what will happen while the home is for sale,
  • who will cover expenses until it's sold, and
  • what you'll do with the proceeds once it's sold.
  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. To set out what will happen while the family home is for sale, include paragraphs 7 – 14:
    1. For paragraph 7, click the name of the party who's going to live in the home. The field updates with their name.
    2. For paragraph 8, click the name of the party who will be responsible for making mortgage payments. The field updates with their name.
      Note: If only one party is paying the mortgage, they're usually compensated for those payments when the family home is sold.
    3. For paragraph 9, in the text boxes, enter the percentage of the mortgage each party will pay.
    4. For paragraph 10, click the name of the party who will pay the life insurance premiums on the mortgage.
    5. For paragraph 11:
      1. Click the name of the party who will pay for ongoing household expenses. This is usually the party living in the family home.
      2. In the text box, enter any other expenses not already listed.
    6. For paragraph 12:
      1. In the first text box, enter any other expenses not already listed.
      2. In the second and third text boxes, enter what percentage of the costs each party will pay.
    7. For paragraph 13:
      1. Click the name of the party who will pay for major maintenance and repairs.
        Note: If only one party is paying these expenses, that party is usually compensated for those payments when the family home is sold.
      2. In the text box, enter the types of maintenance and repairs they're expected to pay for.
    8. For paragraph 14:
      1. In the first text box, enter the types of maintenance and repairs the parties will be paying for.
      2. In the second and third text boxes, enter what percentage of the costs each party will pay.

When this agreement is signed, the family home will be listed for sale at a price and with a realtor to be agreed upon by both parties.

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Unless the parties agree otherwise, the list price of the family home will be the average of values determined by two certified appraisers. Name will get one appraisal. Name will get the other appraisal.

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Until the family home is sold, Name will have sole occupancy of the family home. And Name will have sole use of all personal property located at the family home.

Party 1
Party 2
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Until the family home is sold, Name will be responsible for making all payments required under the terms of the mortgage on the family home. Name will be compensated for those payments when the family home is sold.

Party 1
Party 2
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Until the family home is sold, Name and Name will share the cost of the mortgage. Name will pay and Name will pay .

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Until the family home is sold, Name will pay the monthly premiums for the life insurance on the mortgage as they become due.

Party 1
Party 2
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Until the family home is sold, Name will be responsible for the ongoing household expenses of the family home, including utilities, house insurance, cable/Internet, and .

Party 1
Party 2
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Until the family home is sold, Name and Name will share the responsibility for the ongoing household expenses of the family home, including utilities, house insurance, cable/Internet, and . Name will pay and Name will pay .

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Until the family home is sold, Name will be responsible for all major repairs and maintenance of the family home. Name will be compensated for those payments when the family home is sold. Major maintenance and repairs include .

Party 1
Party 2
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Until the family home is sold, Name and Name will share the costs of major maintenance and repairs of the family home. Major maintenance and repairs include . Name will pay and Name will pay .

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One party buys the family home from the other party

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  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 15, click the name of the party who will transfer their interest in the family home. The field updates with your names.
  3. To set out what will happen after the family home is transferred, include paragraphs 16 – 23.
    1. For paragraph 17:
      1. Click the name of the party who will be paying out the line of credit associated with the home.
      2. In the text box, enter the name of the bank or financial institution.
    2. For paragraph 18:
      1. Click the name of the party who will make all payments associated with the house (for example, the mortgage payments). The field updates with their name.
      2. In the text box, enter the type of payment.
    3. For paragraph 19, click the name of the party who will be responsible for all other charges against the home. The field updates with their name.
    4. For paragraph 20, click the name of the party who will be responsible for costs associated with the home. The field updates with their name.
    5. For paragraph 21, click the name of the party who will be paying for the costs of transferring the home.
    6. For paragraph 22, click the name of the party who will be paying out the other party. The field updates with your names.
    7. For paragraph 23:
      1. Click the name of the party who will be paying out the other party. The field updates with your names.
      2. In the text box, enter the amount they'll pay
    8. For paragraph 24:
      1. Click the name of the party transferring their interest in the home to the other party. The field updates with your names.
      2. In the text box, enter the financial obligations and liabilities associated with the home.

When this agreement is signed, Name will transfer their interest in the family home to Name.

Party 1
Party 2
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After the family home is transferred:

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Name will pay out and close the line of credit and corresponding bank account.

Party 1
Party 2
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Name will make all the payments due under the .

Party 1
Party 2
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Name will be responsible for paying out all other charges registered against the family home.

Party 1
Party 2
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Name will be pay for taxes, water, sewer, insurance, repairs, maintenance, and any other outstanding expenses related to the family home.

Party 1
Party 2
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Name is responsible for paying all of the costs (including registration fees and property transfer tax) of the transfer of the family home into Name's name.

Party 1
Party 2
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Name and Name will equally share the overall responsibility for all the expenses listed above. Any amount one party pays over their share will be included in the total amount Name owes Name in the paragraph below.

Party 1
Party 2
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Name will pay Name the sum of .

Party 1
Party 2
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Name is not required to transfer their interest in the family home to Name until they are satisfied with the arrangements for releasing them, or they have been released from, any financial obligations and liabilities under the .

Party 1
Party 2
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One party lives in the family home

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If you and the other party have agreed that one of you'll stay in the family home for the time being, your agreement should set out the circumstances under which that arrangement will end. For example, you might agree that the children's primary caregiver will remain in the family home until your youngest child reaches a certain age. Or you might simply agree that one party will live in the family home until it's sold.

Your agreement should set out in some detail who will pay for the various household expenses. There are two types of expenses to think about:

  • regular ongoing expenses, such as hydro, cable, and house insurance
  • major maintenance, such as repairs and renovations
  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. To set out who will live in the home and when their right to live in the home will end, include paragraphs 25 32. Then:
    1. For paragraph 26, enter the age your youngest child must reach before the party is expected to leave the family home.
    2. For paragraph 27, enter the name of the party living in the home. The field updates with their name.
    3. For paragraph 28:
      1. Click the name of the party living in the home. The field updates with their name.
      2. In the text box, enter the number of days that party must live with another adult before they're expected to leave the family home.
    4. For paragraph 30, click the name of the party living in the home. The field updates with their name.
    5. For paragraph 31:
      1. Click the name of the party living in the home. The field updates with their name.
      2. In the text box, enter whether all or part of the home must be rented before they're expected to leave the home.
    6. For paragraph 32, click the name of the party living in the home. The field updates with their name.
  3. To set out who will pay the mortgage and other costs until the parties agree to sell the family home, include paragraphs 33 39 as applicable:
    1. For paragraph 33, click the name of the party who will be responsible for making mortgage payments. The field updates with their name.
    2. For paragraph 34, in the text boxes, enter the percentage of the mortgage each party will pay.
    3. For paragraph 35, click the name of the party who will pay the life insurance premiums on the mortgage.
    4. For paragraph 36:
      1. Click the name of the party who will pay for ongoing household expenses.
      2. In the text box, enter any other expenses not already listed.
    5. For paragraph 37:
      1. Click the name of the party who will pay for ongoing household expenses.
      2. In the first text box, enter any other expenses not already listed.
      3. In the second and third text boxes, enter what percentage of the expenses each party will pay.
    6. For paragraph 38:
      1. Click the name of the party who will be responsible for major maintenance and repairs.
      2. In the text box, enter the types of repairs and maintenance they'll be responsible for.
    7. For paragraph 39:
      1. In the first text box, enter the types of repairs and maintenance the parties will be responsible for.
      2. In the second and third text boxes, enter the percentage of the repairs and maintenance each party must pay.

Name will have the right to live in the family home until the first of the following events occurs:

Party 1
Party 2
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the youngest child reaches .

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Name remarries.

Party 1
Party 2
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Name lives with another adult in a marriage-like relationship for a period of more than days.

Party 1
Party 2
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none of the children live in the family home.

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Name vacates the premises.

Party 1
Party 2
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Name rents of the premises.

Party 1
Party 2
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Name dies.

Party 1
Party 2
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Who pays the mortgage and other expenses

Until the family home is sold, Name will be responsible for making all payments required under the terms of the mortgage on the family home. Name will be compensated for those payments when the family home is sold.

Party 1
Party 2
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Until the family home is sold, Name and Name will share the cost of the mortgage. Name will pay and Name will pay .

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Until the family home is sold, Name will pay the monthly premiums for the life insurance on the mortgage as they become due.

Party 1
Party 2
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Until the family home is sold, Name will be responsible for the ongoing household expenses of the family home, including utilities, house insurance, cable/Internet, and .

Party 1
Party 2
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Until the family home is sold, Name and Name will share the responsibility for the ongoing household expenses of the family home, including utilities, house insurance, cable/Internet, and . Name will pay and Name will pay .

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Until the family home is sold, Name will be responsible for all major repairs and maintenance of the family home. Name will be compensated for those payments when the family home is sold. Major maintenance and repairs include .

Party 1
Party 2
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Until the family home is sold, Name and Name will share the costs of all major maintenance and repairs to the family home. Major maintenance and repairs include . Name will pay and Name will pay .

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Unless the parties agree otherwise, the list price of the family home will be the average of values determined by two certified appraisers. Name will get one appraisal. Name will get the other appraisal.

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How to distribute the proceeds after sale

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  1. Decide which paragraphs apply to your situation. Click Don't include for any that don't apply.
  2. To set out the expenses you'll pay for out of the proceeds of the sale of the home, include paragraphs 41 47 as applicable.
  3. To set out how you'll divide the balance of the sale:
    1. Include paragraph 48 or 49.
    2. For paragraph 49, in the text boxes, enter the percentage of the total each party will receive.

The parties will pay the following expenses from the proceeds of sale of the family home:

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real estate commissions

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the usual adjustments between the vendor and the purchaser

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any amount required to pay and discharge the mortgage and any other registered financial encumbrances 

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legal fees and disbursements relating to the sale of the family home

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all other adjustments on sale

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compensation to a party, if specified under this agreement, for expenses relating to the family home that the party was required to pay under this agreement

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Name and Name will divide the balance of the proceeds of sale equally.

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The parties will each receive a percentage of the balance of the proceeds of sale. Name will get  Name will get .

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Removing charges

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Sometimes when couples separate, one party must take steps to protect the property you own together or separately. For example, you might be worried that your spouse will take out a loan using the family home as collateral. In this case, you could take steps to protect your property. You could file an entry on the title under the Land Title Act or relating to claims being made under the Family Law Act. These are both called "charges" against the property. Once you've negotiated your agreement about all of the family law questions, these charges must be removed.

Other options, plus more detailed paragraphs, are available in the CLEBC manual.

  1. Decide whether paragraph 50 applies to your situation. Click Don't include if it doesn't apply.
  2. For paragraph 50, click the name of the party who has registered a charge against the family home. The fields update with your names.

Name has filed or registered a charge against title to the family home. When this agreement is signed, Name will remove it at their own expense.

Party 1
Party 2
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Other property

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There are many other types of property that the parties may need to divide, other than land or houses. This section covers only the most common types:

  • personal possessions and household goods,
  • motor vehicles,
  • bank accounts, and
  • pets.

For information about other types of property and assets, see the CLEBC manual.

These things are also divided using the rules described in the Introductory clauses. Basically, you each have a right to half of everything you acquired during the relationship.

Before setting out how you'll divide any particular type of property, describe that property. This means you need to provide:

  • bank account numbers,
  • credit card numbers, and
  • addresses, etc.

You can do that at the beginning of the section of your agreement on property or in a separate schedule at the end.

If it's in a schedule, you need to refer to it in the agreement.

Important: Remember that the law says you must provide "full and true information" when you make an agreement. If you don't, a court can overturn your agreement.

Personal possessions and household goods

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If your personal possessions aren't too valuable and you've agreed to each keep what you've taken, you can include paragraph 47 in your agreement. You can also use this as a catch-all if you also include a provision dividing other specific listed items.

If your personal possessions and household goods have a higher value or you want a more formal approach to dividing them, you can list who gets what using the other paragraphs. Or you can list them in a separate document called a "Schedule."

If you choose to list your property in a Schedule, type the list on a separate piece of paper and give it the heading "Schedule 1." (If you have more than one Schedule, number them accordingly.) You'll need to attach the schedules to your agreement.

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 52, in the text box, enter how you'll divide the contents of the family home (for example, will you divide them equally? will one party keep everything? etc.).
  3. For paragraphs 53 and 54:
    1. Click the name of the party to whom the property belongs. The field updates with their name.
    2. In the text box, enter the possessions and household goods.
  4. For paragraph 55, in the text box, enter the Schedule number.
  5. For paragraph 56, click the name of the party who will begin the selection of property. The field updates with their name.

Except as otherwise provided in this agreement, each party will be the sole owner of personal clothing, jewellery, recreational equipment, and the like in that party's possession.

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The parties will divide the contents of the family home as follows: .

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Name is the sole owner of the following personal possessions and household goods:

Party 1
Party 2
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Name is the sole owner of the following personal possessions and household goods:

Party 1
Party 2
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Schedule lists how Name and Name will divide their personal possessions and household goods.

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The parties will divide their personal possessions and household goods by making alternate selections of individual items. Name will begin the selection.

Party 1
Party 2
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Motor vehicles

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  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 57:
    1. Click the name of the party transferring the vehicle. The field updates with your names.
    2. In the text box, enter the make, model, and year of the vehicle to be transferred (for example, "2014 Ford Focus").
  3. For paragraph 58:
    1. Click the name of the party buying the vehicle. The field updates with your names.
    2. In the first text box, enter the amount they'll pay for the vehicle.
    3. In the second text box, enter the vehicle's make, model, and year.
  4. For paragraph 59:
    1. Click the name of the party keeping the first vehicle. The field updates with your names.
    2. In the first text box, enter the first vehicle's make, model, and year.
    3. In the second text box, enter the make, model, and year of the vehicle the other party will keep.

When this agreement is signed, Name will transfer their interest in the to Name.

Party 1
Party 2
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When this agreement is signed, Name will pay Name to purchase the .

Party 1
Party 2
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Name will keep the as Name's sole property. Name 2 will keep the as Name's sole property.

Party 1
Party 2
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Bank accounts and other assets

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You may have assets in the form of money in chequing or savings accounts. But you may also have:

  • Canada Savings Bonds,
  • treasury bills,
  • guaranteed investment certificates,
  • term deposits, or
  • cash in hand, perhaps kept in a safety deposit box or elsewhere.

It's important to first list your assets. The paragraphs below are geared toward bank accounts but can be adapted for other types of assets.

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraphs 60 63:
    1. In the first and second text boxes, enter the account type and where the account is held.
    2. In the second and third text boxes, enter the date (if different from what's listed) and the amount in the account.
  3. If you have separate bank accounts and assets and don't plan to divide them:
    1. Include paragraphs 64 68.
    2. For paragraph 64, in the text box, enter the types of assets (for example, chequing accounts, savings accounts, term deposits, etc.).
    3. For paragraphs 65 68:
      1. Click the name of the party whose asset you're listing. The field updates with their name.
      2. In the text boxes, enter the type of asset and the name of the bank or credit union where it's held.

The parties have the following bank accounts:

a account at the . As of , a balance of is in the account.

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a account at the . As of , a balance of is in the account.

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a account at the . As of , a balance of is in the account.

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a account at the . As of , a balance of is in the account.

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Each party will keep in their name as follows:

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Name’s with is Name's sole property.

Party 1
Party 2
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Name’s with is Name's sole property.

Party 1
Party 2
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Name’s with is Name's sole property.

Party 1
Party 2
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Name’s with is Name's sole property.

Party 1
Party 2
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Equalizing bank account amounts

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You may decide that even though you have separate bank accounts, it would be fair for you both to leave the relationship with the same amount of cash.

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 69:
    1. Click the name of the party who will pay out the other party. The field updates with your names.
    2. In the text boxes, enter the amount, account type, account numbers, and date.
  3. For paragraph 70, in the text box, enter the date.
  4. For paragraph 71:
    1. Click the name of the party who will be responsible for overdraft. The field updates with their name.
    2. In the text box, enter the date.
  5. For paragraph 72, click the name of the party who will pay back the other party for expenses or losses from the overdraft. The field updates with your names.
  6. For paragraph 73:
    1. Click the name of the party who will keep the joint accounts. The field updates with your names.
    2. In the text box, enter the name of the bank or credit union.

Name will pay Name to equalize the cash in their separate accounts as of .

Party 1
Party 2
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Name and Name will divide equally the cash in the joint chequing account as of .

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Name will be solely responsible for the overdraft on the joint chequing account as of .

Party 1
Party 2
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Name will pay back Name for any expense or loss incurred by Name with respect to the overdraft.

Party 1
Party 2
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Name will keep the joint chequing account and the joint savings account at the . Name will do everything necessary to transfer the joint accounts into Name 1's name alone.

Party 1
Party 2
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Pets

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Agreeing on what to do about family pets can be difficult and emotional. Pets are property, but obviously they can't be "divided" like some other types of property. In some cases, people make arrangements for their pets that are very similar to parenting arrangements with children. If you want to take that approach, look at the Parenting section of this guide for options.

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 74:
    1. Click the name of the party who will keep the pets. The field updates with your names.
    2. In the text box, list the pets for which they'll be responsible.
  3. For paragraph 75:
    1. Click the name of the party who will keep the pets. The field updates with your names.
    2. In the first text box, enter the amount that party will pay the other party as compensation for half of the value of the pets.
    3. In the second text box, list the pets.
  4. For paragraph 76:
    1. Click the name of the party who will keep the pets. The field updates with your names.
    2. In the first text box, list the pets.
    3. In the second text box, enter when the other party will have access to the pets (for example, every other weekend or once a month).
  5. For paragraph 77, in the text boxes, enter which pets the relevant party will keep.

Name will keep the family pets as listed: . Name will be solely responsible for the costs of maintaining and caring for those pets. Name gives up forever any claim to the family pets.

Party 1
Party 2
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Name will pay to Name the sum of as compensation for one-half of the value of .

Party 1
Party 2
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Name will keep the family pets as listed: . Name will have access to the family pets as agreed upon by both parties.

Party 1
Party 2
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Name will keep , and will be solely responsible for the costs of maintaining and caring for those family pets. Name gives up forever any claim to those family pets. Name will keep , and will be solely responsible for the costs of maintaining and caring for those family pets. Name gives up forever any claim to those family pets.

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The parties agree that the family pets are family property, but are unable to agree on which of them should keep the family pets. The parties will decide this issue at a later date.

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Pensions

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Tip: Pension division is complicated. Before using this section of the guide, please see our fact sheet What you need to know about dividing pensions and other employment benefits.

Under the BC Family Law Act, pension benefits are family property. That means that you're both entitled to an equal portion of the pension that you or your spouse accumulated while you were living together.

The paragraphs below address only some of the more common pension and benefit situations. This fact sheet will help you figure out if you can use these paragraphs. Many employees have complicated compensation packages that may include other types of pension entitlement and other benefits, many of which are quite valuable. These will not be covered in this guide.

If you have a pension from another province or country, other laws might apply. For example, different laws apply if either party has earned benefits under Québec's QPP.

The CLEBC manual covers additional issues and has more advice. But this is an area where it's often a good idea to get expert help to address any questions you may have.

How you set out your agreement depends on:

  • whether or not the pension is being paid, and
  • whether you want to split it.

If the pension is not yet being paid and you want to split it

Show instructions

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 79:
    1. Click the name of the party who will be receiving the other party's pension benefits and filing the prescribed forms. The field updates with your names.
    2. In the text box, enter the plan name.
  3. Important: Remember to send the agreement to the plan administrator along with the prescribed forms, administrative fees, etc. If you don't send in this paperwork, you may not be able to get your benefits.

  4. For paragraph 80:
    1. Click the name of the party who's claiming a share of the other party's pension. The field updates with your names.
    2. In the text boxes, enter the dates for calculating the member's share.
  1. For paragraph 81, click the name of the party who's a member of the pension. The field updates with your names.

Name is entitled to receive a share of Name's benefits under as provided under Part 6 of the BC Family Law Act. Name must file the prescribed forms for receiving that share.

Party 1
Party 2
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The dates to use for calculating Name's share are and .

Party 1
Party 2
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If Name receives any portion of Name's share, Name holds that in trust for Name and must immediately pay it to Name.

Party 1
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If the pension is not yet being paid and you do not want to split it

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  1. Decide how many paragraphs apply to your situation. There are two paragraphs because you might each be giving up a claim to the other's pension. Click Don't include for the paragraphs that don't apply.
  2. For paragraphs 82 and 83:
    1. Click the name of the party who is not a member of the pension plan. The field updates with your names.
    2. In the text box, enter the name of the plan.

Name gives up any claim to Name's benefits under .

Party 1
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Name gives up any claim to Name's benefits under .

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If the pension is being paid

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If one of you has retired and is receiving a monthly pension, then the other spouse is entitled to receive a share of each monthly pension payment from the plan administrator.

If the pension is being paid, you also need to consider how to adjust for any payments that were made before you arranged for pension division. Should one spouse have to pay compensation for past payments? If so, from what date? If the pension holder has been paying child/spousal support during this period, is that meant to be a share of the pension?

  1. Decide whether this paragraph applies to your situation. Click Don't include if it doesn't apply.
  2. For paragraph 84:
    1. Click the name of the party who's a member of the pension. The field updates with your names.
    2. In the first text box, enter the amount they must pay the other party to compensate for any amount the member has received since the separation.
    3. In the second text box, enter the dates for which the compensation applies.
    4. In the third text box, enter the amount the member will pay the non-member each month.

Name must pay to Name as compensation for the share of payments made from to the date of this agreement, and per month from the date of this agreement to the date the plan administrator starts paying Name the share directly.

Party 1
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Survivor benefits

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When a person retires, they must make choices about what kind of pension to take. Often a survivor benefit is part of that pension. This is a benefit paid to the pension member's spouse if the member dies first.

When a relationship ends, the spouse with the pension plan often wants someone other than their ex-spouse to have the survivor benefit (a new spouse, for example). But under BC law, there is no way to give the survivor benefit to someone else. The former spouse can agree to pay the survivor benefits to another person. But they must sign a waiver (Form P5 under the Family Law Act) to do this.

There are very few circumstances where a former spouse would want to agree to do that. This is because the former spouse needs those benefits for retirement security as well.

If you or your spouse are waiving pension division, be careful if one or both of you has survivor's benefits under the other's plan. If one spouse is still working, a common arrangement is to let the member keep the monthly pension benefit until the working spouse retires.

If one of you agrees to waive pension division, but wants to keep the survivor benefits under the member's pension:

  1. Include paragraph 85.
  2. Click the name of the party giving up their share of the member party's pension.
  3. In the text box, enter the plan name.

Name gives up any claim to Name's benefits under . But if at the date of this agreement Name currently receiving pension benefits under that plan, Name keeps any survivor benefits under that plan.

Party 1
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Credit splitting

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Tip: Before using this section of the guide, see our fact sheet What you need to know about dividing pensions and other employment benefits.

The Canada Pension Plan (CPP) contributions you and your spouse or common-law partner made during the time you lived together can be divided equally after divorce or separation. This is called credit splitting. Credits can be divided even if one spouse or common-law partner didn't make contributions to the CPP.

Credit splitting may help you qualify for benefits. And it can affect the amount of any current or future benefits under the CPP for both you and your former spouse or partner.

  1. Decide which paragraphs apply to your situation. Click Don't include for the paragraphs that don't apply.
  2. For paragraph 86, in the text boxes, enter the date you and the other party started living together and the date you separated.

The parties' unadjusted pensionable earnings under the Canada Pension Plan will be divided under sections 55, 55.1, and 55.2 of the Canada Pension Plan. Either party may file the prescribed forms required to do this. The parties confirm that they started to live together on and they separated on .

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The parties' unadjusted pensionable earnings under the Canada Pension Plan will not be divided under sections 55, 55.1, and 55.2 of the Canada Pension Plan.

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RRSPs

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Tip: Before using this section of the guide, see our fact sheet What you need to know about dividing pensions and other employment benefits.

  1. Decide whether this paragraph applies to your situation. Click Don't include if it doesn't apply.
  2. For paragraph 88:
    1. Click the name of the party who will be transferring money from their RRSPs. The field updates with your names.
    2. In the text boxes, enter the amount and the registered plan type.
  3. Review all of the information you've included throughout this section to make sure it's correct. Then:
    1. Click Open text version. A text copy of this section of the agreement will appear in a new browser window.
    2. Copy and paste the text into a word processor.
    3. Go through the section and number each paragraph/clause. Continue the numbering from where you left off with the previous section. Be sure to save your file.

    Important: Remember that each paragraph/clause in your agreement must be numbered in order for the agreement to be legally valid.

Name will transfer from the to a registered plan in Name's name by a spousal rollover under section 146(16)(b) or section 146.3(14) of the Income Tax Act (Canada ).

Party 1
Party 2
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