People who are going through a separation from their partner or spouse in British Columbia may need to think about the division of their property. After the parties are able to reach an agreement regarding the division, it is sometimes important for a person to protect their interests in real property.
When a property agreement is reached or an order is issued, either party to the agreement may protect their interest in the property by filing a notice of agreement with the land title office. The notice will then serve as a bar to selling the property or transferring title until both parties sign and file a notice of cancellation with the office.
When the property in question is a manufactured home, either party may move to protect their interest by filing a financing statement with the personal property registry. The registrar may not register the transfer of the manufactured home unless the parties to the agreement file a financing change statement that either cancels their registration or postpones it.
The law allows such enforcement of property interests in order to ensure that agreements are followed. Filing the notices or financing statements with the appropriate office can prevent the other spouse or partner from selling or transferring it without permission. It is also an important element in property division for some individuals. For this reason, many people who are going through a divorce find it beneficial to seek the assistance of a family law lawyer. A lawyer may be able to help their client reach an agreement and then enforce it to protect their interests.