Write your own separation agreement

Section 5: Property

Your basic information

If one person doesn't disclose all of their assets

1

When this agreement is signed, if one of us has failed to disclose family property that is worth more than , the person who did not know about the asset is entitled to:

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2

a half interest in the undisclosed assets.

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3

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

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4

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

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Family home

Define the family home

The property at is the family home.

Sell the family home

5

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 of us.

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6

Unless Name and Name 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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7

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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8

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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9

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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10

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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11

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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12

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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13

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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14

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 person buys the family home from the other person

15

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

Party 1
Party 2
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16

After the family home is transferred:

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17

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

Party 1
Party 2
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18

Name will make all the payments due under the .

Party 1
Party 2
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19

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

Party 1
Party 2
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20

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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21

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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22

Name and Name will equally share the overall responsibility for all the expenses listed above. Any amount one of us pays over their share will be included in the total amount Name owes Name in the clause below.

Party 1
Party 2
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23

Name will pay Name the sum of .

Party 1
Party 2
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24

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 person lives in the family home

25

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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26

The youngest child reaches .

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27

Name remarries.

Party 1
Party 2
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28

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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29

None of the children live in the family home.

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30

Name vacates the premises.

Party 1
Party 2
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31

Name rents of the premises.

Party 1
Party 2
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32

Name dies.

Party 1
Party 2
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Who pays the mortgage and other expenses

33

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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34

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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35

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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36

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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37

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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38

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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39

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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How to distribute the proceeds after sale

40

Name and Name will pay the following expenses from the proceeds of sale of the family home:

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41

real estate commissions

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42

the usual adjustments between the vendor and the purchaser

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43

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

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44

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

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45

all other adjustments on sale

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46

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

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Include one of the following two clauses.
47

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

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48

Name and Name 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

49

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

Personal possessions and household goods

50

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

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51

Name and Name will divide the contents of the family home as follows: .

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52

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

Party 1
Party 2
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53

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

Party 1
Party 2
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55

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

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56

Name and Name 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

56

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

Party 1
Party 2
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57

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

Party 1
Party 2
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58

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

Name and Name have the following bank accounts:

59

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

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60

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

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61

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

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62

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

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63

Each person will keep in their name as follows:

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64

Name's with is Name's sole property.

Party 1
Party 2
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65

Name's with is Name's sole property.

Party 1
Party 2
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66

Name's with is Name's sole property.

Party 1
Party 2
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67

Name's with is Name's sole property.

Party 1
Party 2
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Equalizing bank account amounts

68

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

Party 1
Party 2
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69

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

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70

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

Party 1
Party 2
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71

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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72

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

73

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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74

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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75

Name will keep the family pets as listed: . Name will have access to the family pets as agreed upon by us.

Party 1
Party 2
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76

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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77

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

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Pensions

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

78

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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79

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

Party 1
Party 2
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80

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
Party 2
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If the pension is not yet being paid and you do not want to split it

81

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

Party 1
Party 2
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82

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

Party 1
Party 2
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If the pension is being paid

83

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
Party 2
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Survivor benefits

84

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
Party 2
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Credit splitting

85

Name and Name's 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 person may file the prescribed forms required to do this. Name and Name confirm that they started to live together on and they separated on .

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86

Name and Name's 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

87

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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