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Legal blog > Asset protection > When love has the depth of the wallet of the beloved?

When love has the depth of the wallet of the beloved?

If it is often in small pots that we find the best ointments, it is in the application of the rules established by family heritage during a divorce that we frequently find the greatest frustrations. The recipe for success for good ointments and good contracts is the same: consult a professional who will ensure that all the essential ingredients are present.

Writing a simple contract, such as a property purchase agreement, may seem unimportant to some, but often it's the type of contract that causes the most unpleasant surprises.

For example, a couple who have been living together for a year get married at the beginning of 1999. In July 2000, the spouses buy a residence. This residence is paid for in cash from the proceeds of the sale of the husband's property, acquired before the marriage. Ten months pass, the spouses separate and begin divorce proceedings. *

Madame claims half of the value of the residence under the family patrimony division. Monsieur, on the other hand, claims the entire value of the residence since the funds used to acquire it came from the sale of his previous property. In addition, Monsieur asserts that he agreed to include Madame as a co-owner on the deed solely in anticipation of a long common-law relationship and in the hope of starting a family. However, the purchase contract does not contain any clauses stating that the funds used to acquire the residence came from the reinvestment of the sale of a property owned by Monsieur before the marriage, and furthermore, there is no written or verbal agreement confirming that Monsieur agreed to include Madame as a co-owner based on any expectation.

Without having stated a reservation in the contract or any other document, and considering the fact that both spouses are designated equal co-owners in the purchase agreement, the court orders an equal division of the patrimony, regardless of the fact that the marriage lasted only a few months.

If it's in the small pots that we often find the best ointments, it's in the application of the rules established by the family patrimony during a divorce that we frequently encounter the greatest frustrations. The recipe for success for good ointments and good contracts is the same: consult a professional who will ensure that all essential ingredients are included.

* C.S. Montréal 500-12-259886-012, 2006-04-05

François Forget, notary and legal advisor, along with the entire team at ScriptaLegal, are here to assist you with the preparation of your legal documents and to answer all your legal questions.
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