Property Settlement

Property division is a key issue in divorce or separation. The MPPA governs the division of matrimonial property, aiming for equitable distribution. Based on legal precedents, no one walks away with “everything.” The Courts seek to divide the parties’ assets in an equitable manner, giving due consideration to their needs, any children and their arrangements, and the duration of the marriage. Settlements usually range from 1/3 to 1/2 of matrimonial assets.

What is Matrimonial Property?

Matrimonial property includes assets acquired during the marriage, such as:

• The matrimonial home;
• Savings and investments; and
• Jointly acquired properties.

The Court’s Approach:

The Court considers a wide range of factors in property settlement proceedings such as:

• Length of the marriage;
• Contributions made by each party (financial and non-financial);
• The standard of living enjoyed by the family before the breakdown of the marriage;
• the financial needs, obligations and responsibilities each party has or is likely to have in the near future;
• whether either party has any physical or mental disabilities
• The needs and welfare of children; and
• Any pre-existing agreements made by the parties.

What are the outcomes that the Court may decide on?

The Court may decide any of the following, having considered all of the circumstances:

• Sale of the property and division of the proceedings;
• Transfer of ownership to one party; and
• Compensation for non-financial contributions.