What is the test for determining whether a property is a family asset?
British Columbia, Canada
The following excerpt is from Kline v. Hanna, 2013 BCSC 1567 (CanLII):
I adopt the analysis used in Foster v. Foster, 2007 BCCA 83 at para. 28, where Madam Justice Prowse listed factors that a court should consider in determining whether an asset was a family asset, including: 1. Was the property was intended to be used for family purposes? 2. Was rental income used for family purposes on a regular basis? 3. Were there other links between the family and the property to justify a finding the asset was ordinarily used for a family purpose? 4. Were the assets used as a collateral for debt; and 5. Were the proceeds of sale used for a family purpose such as paying down the mortgage on the matrimonial home?
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