What are the consequences if one spouse fails to disclose the existence and true value of assets to the other spouse during marriage negotiations?
British Columbia, Canada
The following excerpt is from Osmachko v Osmachko, 2018 BCSC 792 (CanLII):
In summary, if one spouse fails to disclose information material to the negotiations (such as, the existence and true value of assets) so as to vitiate the other spouse’s informed consent, then that agreement may be rendered voidable: see, for example, Klassen v. Klassen, 2001 BCCA 445, 91 B.C.L.R. (3d) 237. However, that consequence does not automatically follow.
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