Interim distribution is an important part of the family law system in British Columbia, Canada. It allows separating couples to divide their property and assets while their divorce or separation case is still ongoing. In this blog, we will discuss the basics of interim distribution pursuant to the Family Law Act in BC.
The Family Law Act defines family property as any property owned by one or both spouses at the time of separation, with certain exceptions such as gifts and inheritances. This property is subject to division between the separating couple, either through agreement or court order.
Interim distribution is a way for couples to divide their family property before a final court order is made. It is designed to help couples avoid financial hardship during the separation process by allowing them to access and use assets that might otherwise be tied up in legal proceedings.
To apply for interim distribution, one or both parties must make a request to the court. The court will consider factors such as the financial needs and circumstances of both parties, the value of the property, and the potential impact of interim distribution on the final division of assets. The court may also consider whether there is a risk that one party will dispose of or damage property before the final order is made.
If the court grants interim distribution, the separating couple will receive a temporary order outlining how their property will be divided. This may include the transfer of ownership of specific assets or the allocation of funds from joint accounts.
It is important to note that interim distribution is not a final resolution of property division. The final order may be different from the interim order, depending on factors such as new information or changes in circumstances. As such, it is important to work with a family lawyer to ensure that any interim distribution is fair and equitable.
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Written by Jason Hansra
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