Written by When a relationship between two parties comes to an end, be it a marriage, a business deal, or a partnership, it can be a heart-wrenching experience. However, it`s essential to ensure that both parties leave the relationship on good terms, with all the terms and conditions of the separation clearly stated. This is where a separation agreement comes in.
In the province of British Columbia, a separation agreement is a legal document that outlines the terms and conditions of a separation between two parties. It can be used for both married couples and unmarried couples who have lived together for a long time and have decided to end their relationship.
If you`re planning to draft a separation agreement in British Columbia, it`s essential to ensure that it follows the legal requirements set out by the province. A separation agreement that doesn`t meet these requirements may not be considered legally binding in court.
To help you get started, here`s a sample separation agreement that you can use as a reference:
[Insert Date]
[Insert Names of Both Parties]
Separation Agreement
Introduction
This separation agreement (the “Agreement”) is made on [Insert Date] between [Insert Names of Both Parties]. The Parties undertakes to live apart and separate from each other, and they intend to settle all of the issues that arise from their separation.
Property
1. The parties agree that the following property belongs to the person whose name is beside it (“Name of Person”):
[Insert List of Property and Name of Person]
2. The parties agree that the following property is jointly owned:
[Insert List of Property]
3. The parties agree that the following property shall be disposed of as follows: [Insert Instruction for Disposal of Property]
4. The parties agree that the following debts belong to the person whose name is beside it:
[Insert List of Debts and Name of Person]
5. The parties agree that the following debts are jointly owned:
[Insert List of Debts]
6. The parties agree that the following debts shall be paid as follows: [Insert Instruction for Payment of Debt]
Support
1. The parties agree to the following child support payments:
[Insert Details of Child Support]
2. The parties agree to the following spousal support payments:
[Insert Details of Spousal Support]
3. The parties agree that the support payments shall be reviewed every year, and adjustments shall be made based on the changes in the income of both parties.
Custody and Access
1. The parties agree to the following custody arrangements:
[Insert Details of Custody]
2. The parties agree to the following access arrangements:
[Insert Details of Access]
3. The parties agree that the custody and access arrangements shall be reviewed every year, and adjustments shall be made based on the changes in the circumstances of both parties.
General Provisions
1. The parties agree that this Agreement represents the entire understanding between them and supersedes all prior negotiations, understandings, and agreements.
2. The parties agree that this Agreement shall be binding upon them and their respective heirs, executors, administrators, and assigns.
3. The parties agree that this Agreement shall be governed by and construed in accordance with the laws of the province of British Columbia.
4. The parties agree that any dispute or disagreement arising from this Agreement shall be resolved in accordance with the laws of the province of British Columbia.
Conclusion
Drafting a separation agreement that follows the legal requirements set out by British Columbia can be a daunting task. However, using a separation agreement sample like the one provided above can help simplify the process and ensure that all the necessary terms and conditions are included. If you`re unsure about any aspect of the separation agreement, it`s essential to seek legal advice to ensure that the agreement is legally binding and enforceable in court.