Sentences with phrase «gift during the course of the marriage»

«all real and personal property acquired by a spouse before marriage or acquired by a spouse by devise, descent, or gift during the course of the marriage.

Not exact matches

If one spouse owned property before the marriage, or received gifts, inheritance or money from a motor vehicle accident before or during the marriage, that has increased in value during the course of the marriage, the Court has the ability to use its discretion to divide up any increase in the value of the property, although the principal amount will belong to just the one spouse.

Whilst assets which are acquired by way of gift or inheritance from a third party during the marriage are generally excluded from the definition of matrimonial property, if there is a change in nature of the asset during the course of the marriage, the asset could be converted into matrimonial property.

Marital property is defined as any property obtained during the course of the marriage and does not include inheritances, gifts or assets acquired after separation.

However, property acquired by gift from the other spouse during the course of the marriage shall be considered separate property only if such an intention is stated in the conveyance.