What Date Is Used to Value Property When a Couple Separates in British Columbia?
This answer covers the law of British Columbia.
Usually the date of your agreement or the court hearing, not the separation date. Unless an agreement or order says otherwise, family property is valued at fair market value as of that date, with pensions valued under Part 6 as an exception.
Ownership works differently. What each spouse owns on separation, plus property derived from it afterward, is what gets divided, while a court can adjust for a post-separation change in value beyond market trends caused by a spouse. So ordinary market swings after separation generally flow through to the value, but a spouse's own actions that raise or lower value can be weighed. Debt is family debt if incurred from the start of the relationship to separation, and after separation only if incurred to maintain family property.
Evidence matters, so gather account statements and appraisals close to separation and to your agreement or hearing. The court can order a party to disclose information. Spouses can also agree in writing to value items differently. Which date applies to your situation depends on the facts, so confirm with a lawyer or accountant.
Key takeaways
- Unless an agreement or order says otherwise, family property is valued at fair market value as of the agreement date or the court hearing date.
- What each spouse owns is fixed at separation, even though value is measured later.
- A court can adjust for a post-separation change in value beyond market trends that a spouse caused.
- Spouses can agree in writing to value items differently, and pensions valued under Part 6 are an exception.