What is the impact of debt in the context of a marriage breakdown?
British Columbia, Canada
The following excerpt is from A.H. v. F.L., 2013 BCSC 1444 (CanLII):
It is necessary for the court to consider debts, as well as assets, to ensure the fairness of property division and compensation orders made on marriage breakdown: Stein v. Stein, 2008 SCC 35 at para. 10.
The term “family debts” has no statutory significance in this province, but rather is a term that has developed in the jurisprudence to designate a liability of either or both of the spouses incurred for a family purpose. Whether or not any particular debt is a “family debt” turns on whether there is a discernible nexus between the debt itself and some family purpose or benefit: Bryan v. Chapman, 2011 BCCA 278 at para. 43.
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