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Agreement Of Property Division

A real estate transaction contract (PSA), sometimes called a conjugal transaction contract, is the document that breaks down what each spouse gets when a divorce is final. The document is tailored to the needs of the outgoing couple and may include sharing furniture, real estate, savings accounts, trusts and/or life insurance receipts. In addition, each spouse`s financial responsibilities in the event of divorce are defined, such as the payment of shared debts or support obligations. An important asset that must be dealt with during the separation process is marriage. Some very specific factors must be in place for a property to qualify as marital housing. For example, a property must be located in Alberta to qualify under the MPA. This means that extra-state summer houses do not qualify. A house must be in the possession of one or both parts. This means that a house owned by a relative or family member is not an option. There are also specific criteria when a court decides which spouse can stay in the marriage home until the property is sold or one spouse buys the other spouse.

The availability of other accommodation is one of the criteria. However, the financial situation of the spouses and the needs of the children are also examined by the Court of Justice to determine which spouse is held exclusively by marriage. You can make your agreement legally enforceable through a financial agreement or a court authorization order. Name renounces any pretension about the benefits of the name under . However, if, at the time of this agreement, name is currently receiving pension benefits under this plan, Name retains all survival benefits under this plan. Our firm deals with the liquidation of assets for married couples and the division of ownership of unmarried couples. Timing is important when it comes to managing marital assets. Within two years of the date of divorce, it will be necessary to file a motion for a matrimonial decision of appointment. However, in some cases, the delay may be earlier.