In Alberta there is no legislation that dictates how property should be divided after a common law, or an adult interdependent relationship ends. The principles of property division after a common law relationship have been developed by the courts over a number of years. There are several factors that the courts consider in determining the nature of the relationship. Next, the courts look at the unique circumstances of the relationship and of each item of property and each debt to decide if, and how, it should be shared.
There are as many ways to divide property as they are couples wishing to do so. Your rights and obligations is a very good starting place for determining how you want to divide property. However, each property settlement can be as unique as your circumstances. It does not necessarily mean taking each item and splitting it in half. Even when the basic principles of the common-law are adhered to, I can show you different ways for you achieve the same result, and ways that may be easier to implement, or ways that may protect your interests better.
If you have any question about your property division, please contact me to discuss.