In British Columbia, vehicles are considered family property and are included in the overall division of assets in a Separation Agreement. Vehicle ownership is often handled in a practical way: Typically each person keeps the vehicle they primarily use, and if a vehicle is registered in one person’s name, they usually keep it.

These general practices can help simplify the division of vehicles during separation.

The value of each vehicle is determined as of the date of separation or the date the agreement is made. This value is typically assessed using market research or professional appraisals. The determined value is included in the total calculation of family property.

Each person usually keeps the vehicle they primarily use or that is registered in their name. However, the value of the vehicle is factored into the overall division of assets.

If one person’s vehicle is significantly more valuable than the other’s, this difference may be balanced by adjusting the division of other assets or making an equalization payment to the other party.

For example, one person may keep a high-value car, while the other receives additional funds or assets to offset the difference.

Vehicles acquired during the relationship are considered family property and must be divided. Vehicles purchased before the relationship are considered excluded property, but any increase in value during the relationship is considered family property and subject to division.

Since vehicles typically lose value over time, the excluded amount cannot exceed the vehicle’s current value.

If a vehicle is jointly owned, the Separation Agreement will specify how it will be handled. Either one person may buy out the other’s share or the vehicle may be sold, and the proceeds divided between both parties.