Property Division in New Brunswick

New Brunswick's Marital Property Act creates equal division of marital property. Assets acquired during the marriage are generally split 50/50 between spouses.

Marital property includes assets acquired during the marriage by either spouse: the family home, vehicles, savings, investments, pensions, and businesses built during the marriage. Both spouses' contributions (financial and non-financial) are recognized.

Some property is exempt from division: gifts and inheritances from third parties, property owned before marriage, and certain personal items. However, increases in value during the marriage may be divisible.

The marital home has special status under the Marital Property Act. Both spouses have equal rights to it regardless of whose name is on title. Division options include sale and splitting proceeds, one spouse buying out the other, or continued co-ownership.

Courts can order unequal division if equal sharing would be 'inequitable' considering factors like length of marriage, contributions, agreements, and each spouse's circumstances.