Assets during marriage
The home, other property, savings, investments, vehicles, businesses, and other assets may need to be identified.
Property
HomeTopic 1 of 6
Topic 1
What may count as a matrimonial asset?
Begin with assets acquired during the marriage—not only assets registered in both names.
Pre-marriage assets
An asset owned before marriage may enter the inquiry where it was substantially improved during marriage by the other spouse or their joint efforts.
Title is not the whole answer
Registration in one spouse’s name does not, by itself, settle whether an asset is matrimonial or how it should be divided.
Complex ownership
Inheritance, gifts, company interests, overseas assets, or disputed ownership may require individual legal and tax advice.
Legal referenceSection 76(1) and (5)+
Section 76 empowers the Court, when granting divorce or judicial separation, to divide matrimonial assets or order their sale. Subsection (5) addresses certain pre-marriage assets substantially improved during the marriage.
Topic 2
Build a complete asset picture
A useful discussion begins with disclosure, current values, and obligations attached to each asset.
Create one list
Record each asset, legal owner, acquisition date, estimated current value, and available documents.
Financing and debts
Identify borrowers, outstanding balances, instalments, arrears, and refinancing or consent needed.
Use evidence
Gather titles, agreements, statements, valuations, company records, and proof of major improvements.
Compare like with like
Agree on a valuation date and method. A professional valuation may be necessary.
Legal referenceSection 76+
The statutory assessment depends on evidence about assets, contributions, relevant debts, children’s needs, and duration of marriage.
Topic 3
Understand different contributions
Contribution is wider than the name on a payment receipt.
Money and property
Deposits, instalments, renovations, capital, and property contributed to acquisition or improvement may be relevant.
Work toward an asset
Work performed in acquiring, preserving, or developing an asset or business may be relevant.
Family and home work
Caring for children, managing the home, and paying family expenses must not be treated as having no value.
Keep a chronology
Record when contributions were made and whether they related to assets, family expenses, debt, or improvement.
Legal referenceSection 76(2)(a)+
The current section 76 directs the Court to consider contributions in money, property, or work toward acquiring assets or paying expenses for the family’s benefit.
Topic 4
What else does the Court consider?
Division is not produced by a universal percentage or calculator.
Joint-benefit debts
The Court may consider debts incurred by either spouse for their joint benefit.
Minor children’s needs
Housing and other needs of minor children may affect a practical arrangement.
Duration
The length of the marriage is a statutory consideration.
Inclination towards equality
After considering the factors, section 76 directs the Court to incline towards equality. This is not a promise of an automatic 50/50 result in every dispute.
Legal referenceSection 76(2)+
Section 76 lists contributions, joint-benefit debts, minor children’s needs, and marriage duration, and directs the Court to incline towards equality.
Topic 5
Explore workable outcomes
A percentage is only one part of a complete property arrangement.
One spouse keeps it
Consider valuation, payment, financing, lender consent, transfer costs, and deadlines.
Sell and divide
Define sale decisions, occupancy, expenses, redemption, and division of net proceeds.
Offset another asset
One asset may be retained for another asset or payment, but values, liquidity, tax, and enforceability matter.
Implementation
A proposed transfer does not itself release a borrower or complete registration. External approvals may be necessary.
Legal referenceSection 76(1)+
The Court may order division of assets or their sale and division of proceeds. The implementation mechanism should be clear.
Topic 6
Is the property arrangement ready?
Test whether both spouses understand the assets and how the outcome will be completed.
Disclosure
Have all material assets, values, interests, and relevant debts been disclosed?
Clear terms
Is it clear who keeps what, what is paid, how net proceeds are calculated, and when?
Feasibility
Can the financing, transfer, sale, or payment actually be completed?
Unresolved risk
Hidden assets, business values, overseas property, bankruptcy, or disposal risks may need tailored advice.
Legal referenceSections 76 and 52+
For a joint petition, arrangements should be complete enough for free consent and for the Court to consider the provision made on dissolution.