Acts and Regulations

2012, c.107 - Marital Property Act

Section 15
Disposition versions

Full text
Presumption of resulting trust
15(1)The rule of law applying a presumption of advancement in questions of the ownership of property as between spouses is abolished, and in its place the rule of law applying a presumption of a resulting trust shall be applied in the same manner as if they were not married, except that
(a) the fact that property is placed or taken in the name of spouses as joint tenants is proof, in the absence of evidence to the contrary, that each spouse is intended to have on a severance of the joint tenancy a one-half beneficial interest in the property, and
(b) money on deposit in a chartered bank, savings office, credit union or trust company in the name of both spouses shall be deemed to be in the name of the spouses as joint tenants for the purposes of paragraph (a).
15(2)Subsection (1) applies even though the event giving rise to the presumption occurred before January 1, 1981.
1980, c.M-1.1, s.15; 2008, c.45, s.14
Presumption of resulting trust
15(1)The rule of law applying a presumption of advancement in questions of the ownership of property as between spouses is abolished, and in its place the rule of law applying a presumption of a resulting trust shall be applied in the same manner as if they were not married, except that
(a) the fact that property is placed or taken in the name of spouses as joint tenants is proof, in the absence of evidence to the contrary, that each spouse is intended to have on a severance of the joint tenancy a one-half beneficial interest in the property, and
(b) money on deposit in a chartered bank, savings office, credit union or trust company in the name of both spouses shall be deemed to be in the name of the spouses as joint tenants for the purposes of paragraph (a).
15(2)Subsection (1) applies even though the event giving rise to the presumption occurred before January 1, 1981.
1980, c.M-1.1, s.15; 2008, c.45, s.14