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 03:01, 19 April 2013
, 19 April 2013→Defining "Family Assets"
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*some of the assets had been bought with a spouse's inheritance. | *some of the assets had been bought with a spouse's inheritance. | ||
===Defining " | ===Defining "family assets"=== | ||
Not all assets were shareable family assets. The sections of the ''Family Relations Act'' quoted above only provided for the division of assets that qualified as ''family assets''; other sorts of assets might have been exempt from division, so that the spouse who owned the asset would be allowed to keep that asset, without necessarily having to compensate the other spouse for its value. | Not all assets were shareable family assets. The sections of the ''Family Relations Act'' quoted above only provided for the division of assets that qualified as ''family assets''; other sorts of assets might have been exempt from division, so that the spouse who owned the asset would be allowed to keep that asset, without necessarily having to compensate the other spouse for its value. | ||
