Document background
The Divorce Property Division Agreement is a crucial document in Canadian family law that formalizes how divorcing spouses will divide their matrimonial property and assets. It is typically prepared after separation but before or during divorce proceedings, when both parties have completed full financial disclosure and are ready to formalize their property division arrangements. The agreement must comply with both federal divorce law and provincial property legislation, as property division falls primarily under provincial jurisdiction in Canada. This document covers all aspects of property division including real estate, financial assets, pensions, personal property, and debts, while addressing tax implications and implementation procedures. It serves as a legally binding contract that can be relied upon by courts, financial institutions, and other third parties, and typically requires independent legal advice for both parties before execution.
