Division of Property on Divorce

There is no automatic equal division

Section 26 provides for an equitable division of assets and debts acquired during the marriage and existing at the filing date. The court considers income, earning capacity, needs, standard of living, contributions including homemaking and childcare, health, age, duration of marriage and children’s needs. No party’s share may exceed two thirds of the total divisible property and money.

Contribution is not only financial

Direct payment toward a purchase matters, but childcare, domestic work, support for the other spouse’s employment or business, and efforts to preserve or improve property may also be considered.

Property examined

• Immovable property and secured loans
• Bank accounts, investments and cash
• Company shares and businesses
• Vehicles and valuable movables
• Premarital assets, inheritances and gifts
• Joint and personal debts

Disclosure and dissipation risk

Before the hearing begins, each party must disclose divisible assets still held and assets disposed of during the preceding two years. After proceedings begin, divisible property generally may not be sold, transferred, gifted or mortgaged without court permission. False or incomplete disclosure may affect both division and criminal liability.