Document background
The Marital Property Agreement serves as a crucial legal tool for couples in Canada who wish to establish clear terms for property division that may differ from their province's default matrimonial property regime. This document is commonly used before marriage (as a prenuptial agreement) or after marriage (as a marriage contract or postnuptial agreement). It becomes particularly important when parties bring substantial assets to the marriage, own businesses, expect significant inheritances, or have complex financial arrangements. The agreement must comply with both federal divorce laws and provincial/territorial property laws, requiring independent legal advice and full financial disclosure from both parties. The document typically includes detailed schedules of assets, debts, and financial obligations, and can be especially relevant for business owners, high-net-worth individuals, or those entering second marriages with established assets.
