Is a father obligated to transfer shares to his son by way of a divorce settlement?

Alberta, Canada


The following excerpt is from N.S. v. N.C., 1981 ABCA 351 (CanLII):

In the case at bar the father incurred an obligation to benefit the son by way of a divorce settlement. In the father's lifetime he has as a result of the 1961 trust agreement transferred to the son a total number of Conick shares in excess of that which he was required to transfer under the 1959 agreement. The principles which apply to the marriage settlement cases may also apply in this case to the extent that, in the words of the Lord Chancellor in Wood v. Briant supra, it would be "unnatural" to suppose that the father intented to benefit the son to the extent that he would receive the full number of shares set out in the 1959 agreement in addition to the shares he received as a result of the 1961 trust. I would not go so far, however, as to say that in this case there should be a prima facie finding of satisfaction, given that the obligation was incurred under a divorce settlement for the benefit of a third party.

Other Questions


What is the effect of a gratuitous transfer of property between the parents of an elderly father and his adult child? (Alberta, Canada)
What is the test for refusing to grant recognition of a divorce that is not genuine divorce? (Alberta, Canada)
Does a son who is encouraged by his father to build a home at his own expense on the father's property have the right to call for conveyance of the property? (Alberta, Canada)
Is Novagas entitled to a proportionate share settlement? (Alberta, Canada)
How have the sections 8 factors under s. 8 of the Statutory Guidelines for Divorce and Divisions of Divorce been interpreted? (Alberta, Canada)
Can a unilateral transfer (or transfer that is not for value) generate trust? (Alberta, Canada)
Can a settlement be reached before the parties complete the settlement documentation? (Alberta, Canada)
Does the Wife have a claim against the Husband under the Divorce and Divorce Act? (Alberta, Canada)
Does a father who gratuitously creates joint tenancy with his son in a large bank account and in a farm property constitute a gift from the father to son? (Alberta, Canada)
How much shared parenting time between a 15-1-2 year old boy and his father? (Alberta, Canada)
X



Alexi white


"The most advanced legal research software ever built."

Trusted by top litigators from across North America.