Married couples automatically share the value of the family property if they separate.Couples who live together, but are not legally married, may have some rights to shared property, but they do not automatically have this right and the Court may have to decide.The law sees marriage as an economic partnership and assumes that each married spouse has contributed equally to the relationship, financially and in other ways.
For couples who married, the process of dividing family property between the spouses is called equalization .
When partners separate, there are legal rules for dividing the property that they had during their relationship.
The rules for dividing family property can be very complicated.
Property means anything a person owns, such as a home, car, personal and household items, pensions, bank accounts and any other investments. A debt is a promise to pay back money that was borrowed.
Debts can include a mortgage on a house, a car lease and a loan.