The Law Firm of Sunny Chhabra Can Assist with Property Division Legal Services in Durham

Dividing Assets & Debts

As part of a separation or divorce, parties may be faced with considering how their assets and debts are to be divided. The property division regime of the Family Law Act applies only to legally married spouses and not common law spouses. Common law spouses who are separating may have a claim to property division under trust doctrines.

Under the Family Law Act, legally married spouses divide their assets and debts through a process referred to as equalization of Net Family Property. This process is briefly outlined in the FAQ section of this site.

As property division is important and can be complicated, it’s important to have a lawyer thoroughly review your matter to ensure that your property and other financial rights, entitlements and obligations are fairly, legally and equitably resolved.