Acts and Regulations

2012, c.107 - Marital Property Act

Section 1
Disposition versions

Full text
Definitions
1The following definitions apply in this Act.
“business asset” means property owned by one spouse and used principally in the course of a business carried on by that spouse, either alone or jointly with others, and includes shares that the spouse owns in a corporation through which he or she carries on a business. (actif commercial)
“cohabit” means to live together in a conjugal relationship. (cohabiter)
“Court” means The Court of King’s Bench of New Brunswick and includes any judge of that court. (Cour)
“disposition” means any alienation or disposition or purported or attempted alienation or disposition of property or any part of it or any interest in it whether in writing or not and includes a conveyance, agreement for sale, option to purchase, mortgage, lease, encumbrance, charge, settlement or any other transaction conveying or passing or intended to convey or pass an interest in property. (disposition)
“domestic contract” means a domestic contract as defined in Part 3. (contrat domestique)
“family assets” means property, whether acquired before or after marriage, owned by one spouse or both spouses and ordinarily used or enjoyed for shelter or transportation or for household, educational, recreational, social or aesthetic purposes by both spouses or one or more of their children while the spouses were cohabiting, and includes(actif familial)
(a) a marital home and household goods,
(b) money in an account with a chartered bank, savings office, credit union or trust company if the account is ordinarily used for shelter or transportation or for household, educational, recreational, social or aesthetic purposes,
(c) shares in a corporation or an interest in a partnership or trust owned by a spouse having a market value equal to the value of the benefit the spouse has in respect of property owned by the corporation, partnership or trustee that would, if it were owned by the spouse, be a family asset,
(d) property over which a spouse has, either alone or in conjunction with another person, a power of appointment exercisable in favour of himself or herself, if the property would be a family asset if it were owned by the spouse, and
(e) property disposed of by a spouse but over which the spouse has, either alone or in conjunction with another person, a power to revoke the disposition or a power to consume or dispose of the property, if the property would be a family asset if it were owned by the spouse,
but does not include property that the spouses have agreed by a domestic contract is not to be included in family assets.
“household goods” means furniture, equipment, appliances and effects owned by one spouse or both spouses and ordinarily used or enjoyed by both spouses or by one or more of their children within or about a marital home while the spouses are or were cohabiting. (objets ménagers)
“marital debts” means the indebtedness of either or both spouses to another person(dettes matrimoniales)
(a) for the purpose of facilitating, during cohabitation, the support, education or recreation of the spouses or one or more of their children, or
(b) in relation to the acquisition, management, maintenance, operation or improvement of marital property.
“marital home” means a marital home referred to in subsection 16(1). (foyer matrimonial)
“marital property” means(biens matrimoniaux)
(a) family assets;
(b) property owned by one spouse or by both spouses that is not a family asset and that was acquired while the spouses cohabited, or in contemplation of marriage, except
(i) a business asset,
(ii) property that was a gift from one spouse to the other, including income from that property,
(iii) property that was a gift, devise or bequest from any other person to one spouse only, including income from that property,
(iv) property that represents the proceeds of disposition of property that was not a family asset and was not acquired while the spouses cohabited or in contemplation of marriage, or that was acquired in exchange for or was purchased with the proceeds of disposition of such property or that represents insurance proceeds with respect to loss of or damage to such property, and
(v) property that represents the proceeds of disposition of property referred to in subparagraphs (ii) and (iii) or that was acquired in exchange for or was purchased with the proceeds of disposition of such property or that represents insurance proceeds with respect to loss of or damage to such property; and
(c) property that was acquired by one spouse after the cessation of cohabitation and that was acquired through the disposition of property that would have been marital property had the disposition not occurred,
but does not include property that the spouses have agreed by a domestic contract is not to be included in marital property.
“net proceeds” means the proceeds realized by a spouse pursuant to the disposition of an interest in a marital home after deducting any sums(produit net)
(a) payable in respect of any rents owing, any unpaid taxes or any mortgage or lien against the property, or
(b) payable in respect of any obligation reasonably incurred in connection with the disposition that gives rise to the proceeds.
“property” means real or personal property and includes any interest in it. (biens)
“spouse” means a married person. (conjoint)
1980, c.M-1.1, s.1; 2023, c.17, s.148
Definitions
1The following definitions apply in this Act.
“business asset” means property owned by one spouse and used principally in the course of a business carried on by that spouse, either alone or jointly with others, and includes shares that the spouse owns in a corporation through which he or she carries on a business. (actif commercial)
“cohabit” means to live together in a conjugal relationship. (cohabiter)
“Court” means The Court of Queen’s Bench of New Brunswick and includes any judge of that court. (Cour)
“disposition” means any alienation or disposition or purported or attempted alienation or disposition of property or any part of it or any interest in it whether in writing or not and includes a conveyance, agreement for sale, option to purchase, mortgage, lease, encumbrance, charge, settlement or any other transaction conveying or passing or intended to convey or pass an interest in property. (disposition)
“domestic contract” means a domestic contract as defined in Part 3. (contrat domestique)
“family assets” means property, whether acquired before or after marriage, owned by one spouse or both spouses and ordinarily used or enjoyed for shelter or transportation or for household, educational, recreational, social or aesthetic purposes by both spouses or one or more of their children while the spouses were cohabiting, and includes(actif familial)
(a) a marital home and household goods,
(b) money in an account with a chartered bank, savings office, credit union or trust company if the account is ordinarily used for shelter or transportation or for household, educational, recreational, social or aesthetic purposes,
(c) shares in a corporation or an interest in a partnership or trust owned by a spouse having a market value equal to the value of the benefit the spouse has in respect of property owned by the corporation, partnership or trustee that would, if it were owned by the spouse, be a family asset,
(d) property over which a spouse has, either alone or in conjunction with another person, a power of appointment exercisable in favour of himself or herself, if the property would be a family asset if it were owned by the spouse, and
(e) property disposed of by a spouse but over which the spouse has, either alone or in conjunction with another person, a power to revoke the disposition or a power to consume or dispose of the property, if the property would be a family asset if it were owned by the spouse,
but does not include property that the spouses have agreed by a domestic contract is not to be included in family assets.
“household goods” means furniture, equipment, appliances and effects owned by one spouse or both spouses and ordinarily used or enjoyed by both spouses or by one or more of their children within or about a marital home while the spouses are or were cohabiting. (objets ménagers)
“marital debts” means the indebtedness of either or both spouses to another person(dettes matrimoniales)
(a) for the purpose of facilitating, during cohabitation, the support, education or recreation of the spouses or one or more of their children, or
(b) in relation to the acquisition, management, maintenance, operation or improvement of marital property.
“marital home” means a marital home referred to in subsection 16(1). (foyer matrimonial)
“marital property” means(biens matrimoniaux)
(a) family assets;
(b) property owned by one spouse or by both spouses that is not a family asset and that was acquired while the spouses cohabited, or in contemplation of marriage, except
(i) a business asset,
(ii) property that was a gift from one spouse to the other, including income from that property,
(iii) property that was a gift, devise or bequest from any other person to one spouse only, including income from that property,
(iv) property that represents the proceeds of disposition of property that was not a family asset and was not acquired while the spouses cohabited or in contemplation of marriage, or that was acquired in exchange for or was purchased with the proceeds of disposition of such property or that represents insurance proceeds with respect to loss of or damage to such property, and
(v) property that represents the proceeds of disposition of property referred to in subparagraphs (ii) and (iii) or that was acquired in exchange for or was purchased with the proceeds of disposition of such property or that represents insurance proceeds with respect to loss of or damage to such property; and
(c) property that was acquired by one spouse after the cessation of cohabitation and that was acquired through the disposition of property that would have been marital property had the disposition not occurred,
but does not include property that the spouses have agreed by a domestic contract is not to be included in marital property.
“net proceeds” means the proceeds realized by a spouse pursuant to the disposition of an interest in a marital home after deducting any sums(produit net)
(a) payable in respect of any rents owing, any unpaid taxes or any mortgage or lien against the property, or
(b) payable in respect of any obligation reasonably incurred in connection with the disposition that gives rise to the proceeds.
“property” means real or personal property and includes any interest in it. (biens)
“spouse” means a married person. (conjoint)
1980, c.M-1.1, s.1
Definitions
1The following definitions apply in this Act.
“business asset” means property owned by one spouse and used principally in the course of a business carried on by that spouse, either alone or jointly with others, and includes shares that the spouse owns in a corporation through which he or she carries on a business. (actif commercial)
“cohabit” means to live together in a conjugal relationship. (cohabiter)
“Court” means The Court of Queen’s Bench of New Brunswick and includes any judge of that court. (Cour)
“disposition” means any alienation or disposition or purported or attempted alienation or disposition of property or any part of it or any interest in it whether in writing or not and includes a conveyance, agreement for sale, option to purchase, mortgage, lease, encumbrance, charge, settlement or any other transaction conveying or passing or intended to convey or pass an interest in property. (disposition)
“domestic contract” means a domestic contract as defined in Part 3. (contrat domestique)
“family assets” means property, whether acquired before or after marriage, owned by one spouse or both spouses and ordinarily used or enjoyed for shelter or transportation or for household, educational, recreational, social or aesthetic purposes by both spouses or one or more of their children while the spouses were cohabiting, and includes(actif familial)
(a) a marital home and household goods,
(b) money in an account with a chartered bank, savings office, credit union or trust company if the account is ordinarily used for shelter or transportation or for household, educational, recreational, social or aesthetic purposes,
(c) shares in a corporation or an interest in a partnership or trust owned by a spouse having a market value equal to the value of the benefit the spouse has in respect of property owned by the corporation, partnership or trustee that would, if it were owned by the spouse, be a family asset,
(d) property over which a spouse has, either alone or in conjunction with another person, a power of appointment exercisable in favour of himself or herself, if the property would be a family asset if it were owned by the spouse, and
(e) property disposed of by a spouse but over which the spouse has, either alone or in conjunction with another person, a power to revoke the disposition or a power to consume or dispose of the property, if the property would be a family asset if it were owned by the spouse,
but does not include property that the spouses have agreed by a domestic contract is not to be included in family assets.
“household goods” means furniture, equipment, appliances and effects owned by one spouse or both spouses and ordinarily used or enjoyed by both spouses or by one or more of their children within or about a marital home while the spouses are or were cohabiting. (objets ménagers)
“marital debts” means the indebtedness of either or both spouses to another person(dettes matrimoniales)
(a) for the purpose of facilitating, during cohabitation, the support, education or recreation of the spouses or one or more of their children, or
(b) in relation to the acquisition, management, maintenance, operation or improvement of marital property.
“marital home” means a marital home referred to in subsection 16(1). (foyer matrimonial)
“marital property” means(biens matrimoniaux)
(a) family assets;
(b) property owned by one spouse or by both spouses that is not a family asset and that was acquired while the spouses cohabited, or in contemplation of marriage, except
(i) a business asset,
(ii) property that was a gift from one spouse to the other, including income from that property,
(iii) property that was a gift, devise or bequest from any other person to one spouse only, including income from that property,
(iv) property that represents the proceeds of disposition of property that was not a family asset and was not acquired while the spouses cohabited or in contemplation of marriage, or that was acquired in exchange for or was purchased with the proceeds of disposition of such property or that represents insurance proceeds with respect to loss of or damage to such property, and
(v) property that represents the proceeds of disposition of property referred to in subparagraphs (ii) and (iii) or that was acquired in exchange for or was purchased with the proceeds of disposition of such property or that represents insurance proceeds with respect to loss of or damage to such property; and
(c) property that was acquired by one spouse after the cessation of cohabitation and that was acquired through the disposition of property that would have been marital property had the disposition not occurred,
but does not include property that the spouses have agreed by a domestic contract is not to be included in marital property.
“net proceeds” means the proceeds realized by a spouse pursuant to the disposition of an interest in a marital home after deducting any sums(produit net)
(a) payable in respect of any rents owing, any unpaid taxes or any mortgage or lien against the property, or
(b) payable in respect of any obligation reasonably incurred in connection with the disposition that gives rise to the proceeds.
“property” means real or personal property and includes any interest in it. (biens)
“spouse” means a married person. (conjoint)
1980, c.M-1.1, s.1