Separation Agreements Meaning
Separating couples typically pay off family debts through the sale of a common estate where there is not enough cash to pay it, which the mortgage normally pays on the family home, or they may allocate a different share of the family property to offset a family debt that cannot be paid. If a debt is not paid, it is important to do two things: assign responsibility for the debt; and to provide that the party that remains responsible for the guilt protects the other party against the repayment of the debt. The general rule here comes from the common law. In the absence of a specific clause that maintains some or all of the terms of a separation agreement, the agreement is not valid if the parties overlap and resume their relationship and live as a couple. This rule was adopted in 2003 in an Ontario Court of Appeal decision, Sydor v. .