How Is a Business Divided on Divorce in British Columbia?

This answer covers the law of British Columbia.

A business interest is generally family property, so yes, it is usually part of the division. Family property includes shares or interests in a corporation, partnership or business interests. It does not matter whose name the business is in; what counts is what each spouse owns on the date of separation. A business a spouse owned before the relationship is excluded property, but any increase in its value since the relationship began is shared.

Unless spouses agree or a court orders otherwise, family property is valued at fair market value as of the date of the dividing agreement or the court hearing, not the separation date. A court can adjust for a post-separation change in value beyond market trends caused by a spouse.

Neither a sale nor a buyout is automatic. To give effect to a division, the court can declare ownership, order a transfer, order compensation or order a sale. How a particular business is valued and whether one spouse can afford to keep it depends on the facts, so a lawyer or accountant can help.