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In This Volume

  • 84 (1) Subject to section 85, family property is all real property and personal property as follows:
  • (a) on the date the spouses separate,
    • (i) property that is owned by at least one spouse, or
    • (ii) a beneficial interest of at least one spouse in property;
  • (b) after separation,
    • (i) property acquired by at least one spouse if the property is derived from property referred to in paragraph (a)(i) or from a beneficial interest referred to in paragraph (a)(ii), or from the disposition of either, or
    • (ii) a beneficial interest acquired by at least one spouse in property if the beneficial interest is derived from property referred to in paragraph (a)(i) or from a beneficial interest referred to in paragraph (a)(ii), or from the disposition of either.
  • (2) Without limiting subsection (1), family property includes the following:
  • (a) a share or an interest in a corporation;
  • (b) an interest in a partnership, an association, an organization, a business or a venture;
  • (c) property owing to a spouse
    • (i) as a refund, including an income tax refund, or
    • (ii) in return for the provision of a good or service;
  • (d) money of a spouse in an account with a financial institution;
  • (e) a spouse’s entitlement under an annuity, a pension plan, a retirement savings plan or an income plan;
  • (f) property, other than property to which subsection (3) applies, that a spouse disposes of after the relationship between the spouses began, but over which the spouse retains authority, to be exercised alone or with another person, to require its return or to direct its use or further disposition in any way;
  • (g) the amount by which the value of excluded property has increased since the later of the date
    • (i) the relationship between the spouses began, or
    • (ii) the excluded property was acquired.
  • (2.1) For the purposes of subsection (2)(g), any increase in value of a beneficial interest in property held in a discretionary trust does not include the value of any property received from the trust.
  • (3) Despite subsection (1) of this section and subject to section 85(1)(e), family property includes that part of trust property contributed by a spouse to a trust in which
  • (a) the spouse is a beneficiary, and has a vested interest in that part of the trust property that is not subject to divestment,
  • (b) the spouse has a power to transfer to himself or herself that part of the trust property, or
  • (c) the spouse has a power to terminate the trust and, on termination, that part of the trust property reverts to the spouse.

2011-25-84, effective March 18, 2013 (B.C. Reg. 131/2012); 2014-9-12, effective May 26, 2014 (B.C. Reg. 96/2014); 2012-30-135, effective September 30, 2015 (B.C. Reg. 71/2015).

CROSS REFERENCES AND OTHER SOURCES OF INFORMATION

See, generally, s. 31 of the Land Title Act in volume 1 of this Manual with regard to priorities. For a discussion about priorities between a caveat claiming a resulting trust and a triggering event under s. 56 of the Family Relations Act (repealed S.B.C. 2011, c. 25, s. 259), see the annotation for Fulton v. Gunn, 2008 BCSC 1159 under s. 31 of the Land Title Act. Note that under s. 81 of the Family Law Act, it is the date of separation that “triggers” the interests of the spouses in family property and debt.