The Marital Property Settlement Agreement is a critical legal document used in Canadian family law when married or common-law couples separate or divorce. This agreement is essential for documenting the comprehensive division of matrimonial property, ensuring compliance with both federal and provincial legislation. It covers all aspects of property division, including real estate, personal property, financial assets, pensions, and debts. The document must align with the property division rules of the relevant province or territory, as these vary across Canada. It serves as a binding contract that prevents future disputes and provides clarity on each party's rights and obligations. The agreement should be drafted with independent legal advice for both parties and requires full financial disclosure to be legally enforceable.
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1. Parties: Identification of both spouses, including full legal names, addresses, and occupations
2. Background: Details of marriage, separation date, and current living arrangements
3. Definitions: Definitions of key terms used throughout the agreement
4. Purpose and Intent: Statement of the parties' intention to finally settle all property matters
5. Disclosure: Acknowledgment of full financial disclosure by both parties
6. Division of Real Property: Arrangements for matrimonial home and other real estate
7. Division of Personal Property: Division of vehicles, furniture, household items, and personal effects
8. Division of Financial Assets: Distribution of bank accounts, investments, and retirement accounts
9. Division of Debts: Allocation of joint and individual debts and liabilities
10. Tax Provisions: Handling of tax implications and responsibilities
11. Release of Rights: Mutual release of future claims to property
12. Implementation: Obligations to execute necessary documents to implement the agreement
13. Governing Law: Specification of applicable provincial/territorial law
14. Independent Legal Advice: Acknowledgment of receiving independent legal advice
15. Execution: Signature requirements and date
1. Business Interests: Division of business assets and interests - include when either party owns a business
2. Inheritance and Gifts: Treatment of inherited or gifted property - include when significant inherited/gifted assets exist
3. Pension Division: Detailed pension splitting arrangements - include when pensions need to be divided
4. Future Asset Division: Provisions for assets not yet received - include when expected future assets exist
5. Overseas Assets: Provisions for foreign property - include when international assets exist
6. Pet Custody: Arrangements for family pets - include when pets are involved
7. Confidentiality: Privacy provisions - include when sensitive financial/business information is involved
8. Dispute Resolution: Alternative dispute resolution procedures - include when parties want to avoid future litigation
9. Cultural Property: Provisions for culturally significant items - include when applicable
10. Digital Assets: Division of digital assets and cryptocurrencies - include when relevant
1. Schedule A - Real Property: Detailed list of all real estate holdings with legal descriptions
2. Schedule B - Personal Property Division: Itemized list of personal property allocation between parties
3. Schedule C - Financial Assets: Comprehensive list of bank accounts, investments, and retirement accounts
4. Schedule D - Debts and Liabilities: Detailed list of all debts and payment responsibilities
5. Schedule E - Business Assets: Detailed valuation and division of business interests
6. Schedule F - Pension Information: Details of pension division calculations and arrangements
7. Schedule G - Insurance Policies: List of insurance policies and beneficiary arrangements
8. Appendix 1 - Financial Statements: Current financial statements of both parties
9. Appendix 2 - Property Valuations: Professional valuations of significant assets
10. Appendix 3 - Tax Documents: Relevant tax returns and assessments
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