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Common Law money separation

Common Law Issues The law regarding common law relationships is different than in cases of divorce. Discuss the issues that affect unmarried couples here.

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Old 09-22-2010, 02:17 PM
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If he participates in the debts of your business, he also participates in the assets.

If you participate in his investment assets, he participates in yours.
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Old 09-22-2010, 02:39 PM
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My business does not have any assets other than my pay cheque. Which
has gone to pay our bills etc. Does that count?
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Old 09-22-2010, 04:02 PM
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Quote:
Originally Posted by amo View Post
My business does not have any assets other than my pay cheque. Which
has gone to pay our bills etc. Does that count?
So you are saying you run a business without a product, a service, any staff or office equipment, a bank account...nothing? BS
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Old 09-22-2010, 04:08 PM
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No I mean there are no profits to be had. If we sell the business all assets will go to paying off our debt and I will still owe money. I have a business credit card in my name which will also need to be paid off.
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Old 09-22-2010, 04:10 PM
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Unless his name is on the business as well in a partnership or corporation, that is your debt.
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Old 09-22-2010, 08:47 PM
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Unmarried people are governed under provincial laws, and therefore do not follow the Family law act, which is federal.
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Old 09-23-2010, 04:16 PM
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Does that mean that he is responsible? I am also still not clear about various investments, RSP,Mutual Funds, GIC's. If there are in his name then I have no claim to them is that correct. Is this also true for CPP?
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