Acquisition Agreement for Separately Owned Asset | Canada

This Canada Asset Acquisition Agreement for a jointly owned asset sets out in writing how the asset will be dealt with if you and your spouse / partner break up.

• The Agreement can be used to cover all substantial assets you purchase together (such as a home, vacation property, boat, RV, family vehicle, etc.).
• Each spouse agrees to pay half of the purchase price, but if one spouse cannot make a payment for any reason, the other spouse can make the payment and his/her interest in the asset will be increased to reflect the amount of the payment.
• If the marriage or relationship breaks up and the parties are unable to come to an agreement regarding ownership of the asset, the partners agree to submit the matter to a mediator, and to abide by the mediator's decision.
• This legal agreement can be used in any Canadian province or territory.

If you and your partner split up, you want to be sure that your jointly owned property is fairly dealt with. Download the Canada Asset Acquisition Agreement for Jointly Owned Asset and sign it before you make that big ticket purchase.

Use this Canada Cohabitation Agreement for Same Sex Couple to set the terms of how your property will be owned, and how your children will be raised and supported.

• The Agreement can be used by same sex couples anywhere in Canada. A French-language version may be required for Quebec.
• The parties agree that each of them retains full ownership of any assets they owned individually before they started living together.
• Any property acquired during the relationship will be joint property unless the partners specifically agree otherwise in writing. All jointly owned property will be divided equally between them if they separate.
• Each partner is responsible for paying his or her own debts.
• The partners agree to take joint responsibility for raising, supporting and caring for the children they have together.
• If either partner has a child from a previous relationship, that child's parent will be primarily responsible for his/her rearing.
• Each partner waives any legal right to claim a portion of any gifts or inheritances left to the other partner.
• Before you sign the Agreement, you and your partner must get independent legal advice from a lawyer. The required form of Certificate of Independent Legal Advice is included.
• Intended for use only in Canada.
• Available in MS Word format.

Cohabiting couples in Ontario can establish their rights and obligations and the ownership of their separate and joint property in a Cohabitation Agreement, under section 53 of the Family Law Act.

• The Agreement allows you and your partner to specify which assets each of you owned prior to the relationship, and which are jointly owned by both of you.
• You can also set out how your joint assets will be distributed if you decide to end the relationship.
• You can also agree upon how household expenses will be split, and who is responsible for other debts. For instance, if your partner owes money on a student loan incurred before you met, he/she may be solely responsible for paying it off.
• If the two of you decide to get married, the Cohabitation Agreement becomes a prenuptial (pre-marriage) agreement.
• You will both need to get independent legal advice from a lawyer before you sign the Agreement. A Certificate of Independent Legal Advice is included for each of you, which the lawyer will sign after seeing you.

Ontario law treats married and cohabiting couples differently with respect to property rights. Make sure yours are protected - get this Ontario Cohabitation Agreement.