Document background
The Property Settlement Agreement Not Married is essential for unmarried couples in Canada who are separating and need to divide their shared assets and property. This document becomes particularly important given that property rights for unmarried couples vary significantly across Canadian provinces and territories, with some jurisdictions providing statutory property rights similar to married couples, while others rely more heavily on common law principles. The agreement typically covers all aspects of property division, including real estate, personal property, financial assets, and debt allocation. It's commonly used by common-law partners who have cohabited for a significant period and accumulated shared assets. The document must comply with provincial legislation governing property rights and contract law, while also addressing tax implications and implementation procedures. This type of agreement is particularly crucial in Canadian jurisdictions where unmarried partners don't have the same statutory property rights as married couples, helping to provide clarity and legal certainty in property division.
