The Alberta Law Reform Institute (ALRI) is the official law reform agency for the province of Alberta. ALRI published Report for Discussion 25 back in November.
This report discusses when and how property is valued under the Matrimonial Property Act.
ALRI reviewed the current process for valuing property at trial and found this process to be problematic for several reasons, namely that “it is an uncertain future date, assumes spouses will litigate to trial, and discourages earlier party driven settlements.”
The ALRI’s review process culminated in 3 recommendations that the ALRI has put forward for comment:
1. The spouses should be able to agree on the valuation date.
2. If the spouses do not agree, the date is presumed to be the date the spouses separate.
3. Variations in value of property after separation are best dealt with by the factors set out in section 8 of the Act.
Did you know that ALRI is still soliciting your feedback on this report? Survey closes March 1.
