Basic Principles of Property and Debt in Family Law: Difference between revisions
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Basic Principles of Property and Debt in Family Law (view source)
Revision as of 16:51, 29 March 2013
, 29 March 2013→Defining "Family Assets"
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<blockquote><blockquote><tt>(c) money of a spouse in an account with a savings institution if that account is ordinarily used for a family purpose;</tt></blockquote></blockquote> | <blockquote><blockquote><tt>(c) money of a spouse in an account with a savings institution if that account is ordinarily used for a family purpose;</tt></blockquote></blockquote> | ||
<blockquote><blockquote><tt>(d) a right of a spouse under an annuity or a pension, home ownership or retirement savings plan;</tt></blockquote></blockquote> | <blockquote><blockquote><tt>(d) a right of a spouse under an annuity or a pension, home ownership or retirement savings plan;</tt></blockquote></blockquote> | ||
<blockquote><blockquote><tt>(e) a right, share or an interest of a spouse in a venture to which money or money's worth was, directly or indirectly, contributed by or on behalf of the other spouse. | <blockquote><blockquote><tt>(e) a right, share or an interest of a spouse in a venture to which money or money's worth was, directly or indirectly, contributed by or on behalf of the other spouse.</tt></blockquote></blockquote> | ||
If an asset did not fall into these categories, it may not have been something that the spouses were both entitled to share. The basic rule of thumb was this: an asset was a family asset if it was ordinarily used or was intended to be ordinarily used for a family purpose. | If an asset did not fall into these categories, it may not have been something that the spouses were both entitled to share. The basic rule of thumb was this: an asset was a family asset if it was ordinarily used or was intended to be ordinarily used for a family purpose. | ||
