What is considered matrimonial property?
Matrimonial property includes all property acquired by either spouse during the course of the marriage. This includes property either spouse acquired before the marriage, or property that a spouse inherits or receives as a gift during the marriage.
What is matrimonial property Kenya?
“matrimonial home” means any property that is owned or leased by one or both spouses and occupied or utilized by the spouses as their family home, and includes any other attached property; “matrimonial property” has the meaning assigned to it in section 6; “spouse” means a husband or a wife.
Are company shares matrimonial property?
46. Shares owned by the Respondent in the company cannot be construed as matrimonial property and be distributed under the principles set out in the Matrimonial Properties Act.
Who can live on reserve?
8) Can anyone live on a reserve? Generally, reserve residents are members of the Nation where they reside. According to the Indian Act, only registered Nation members may live permanently on a reserve unless the Nation has adopted a residency bylaw that regulates who has the right to live on the reserve.
How is marital property split?
In California, each spouse or partner owns one-half of the community property. And, each spouse or partner is responsible for one-half of the debt. Community property and community debts are usually divided equally.
Can I sell the matrimonial home?
Understanding how ownership and possession of the matrimonial home affect your rights. Joint owners of a home have a right to ask a court to sell the matrimonial home. Those rights are far less clear when a spouse is not a registered owner of the property.
Can matrimonial property be sold?
According to the Matrimonial Property Act, a spouse cannot be evicted from the matrimonial home by her partner unless by a court order. It would not be possible to sell the house without your consent as the law provides for spousal consent of both parties (husband and wife).
What happens to shares in a divorce?
Investments and savings will generally form part of your financial settlement if you divorce or your partnership is dissolved. Dividing them should be relatively straightforward if you can negotiate with each other. But you may need to value them and pay tax or charges if you sell or transfer them or cash them in.
What happens to company shares in a divorce?
On divorce, the court has a free hand to redistribute all the assets of either party of the marriage in whatever manner is necessary to provide a “fair” result. Anything owned by either spouse is available for distribution to the other including, for example, shares in private companies.
Why are reserves so poor?
The poverty of First Nations has been the result of being stripped of their lands, their traditional livelihoods, and cultures, and having been placed on less valuable lands as reserves, as well as serious lack of educational opportunities (Neu & Therrien, 2003).
How is Matrimonial Real Property Act enacted by First Nations?
The act describes how First Nations can put in place their own matrimonial real property law. The law enacted by First Nations is subject to a community approval process. Neither ministers nor any government department review, alter or approve a First Nation’s matrimonial real property law.
How to pass a Matrimonial Real Property Law?
To enact a matrimonial real property law, a First Nation must: notify the attorney general in its province of its intent to enact its own law inform eligible voters both on and off-reserve of the details of the proposed law, and their right to vote on the proposed law
When does the Matrimonial Property Act of 1980 apply?
Application of Act to spouses 5 (1) This Act applies to spouses who entered into marriage before or after the first day of October, 1980. Application of Act to property (2) This Act applies to real and personal property whether acquired by a spouse before, on or after the first day of October, 1980.
Which is the best definition of a matrimonial home?
2. “matrimonial home”defined 3 (1) In this Act, “matrimonial home” means the dwelling and real property occupied by a person and that persons spouse as their family residence and in which either or both of them have a property interest other than a leasehold interest. Property only partly used as matrimonial home