i. Assets acquired by Joint Efforts
This is where spouses have made equal contribution and payment in acquiring an asset whereby each spouse is entitled to claim and apportion accordingly. The Court may order on the equal division of assets or the sale of the assets, in which the sale proceeds shall be divided equally.
ii. Assets acquired by sole effort of one party
This category of assets is acquired solely by one spouse to which the other spouse bears no financial contribution to the said asset.
We often get asked if the house is under the sole name of the husband or wife, would the opposing spouse be entitled to the share of the house? The answer to that is yes, whereby the spouse is required to prove that he or she has made substantial indirect financial contribution towards the household expenses. The Courts will also look in regard to the contribution to the welfare of the family, i.e. the spouse be directly involved in the upbringing and care of the child.
iii. Assets owned before marriage and substantial improvement
For the purposes of this section, these are assets obtained by one spouse during the marriage but have been substantially improved during the marriage by the other party or by joint efforts, notwithstanding it be financial contribution or indirect contribution such as the care and upbringing of the family.
The husband or wife has to show that there have been substantial improvements made in the asset, for example, substantial renovation or maintenance of the home which contributed to the increase in market price of the home. Contribution would also have to be proven by the spouse in showing that perhaps utilities bills or maintenance of the home were paid by him or her throughout the course of their marriage.
1. Fact gathering and compilation of relevant documents.
2. Necessary actions such as entering caveat etc might be necessary.
3. Injunction may be filed to prevent disposition of assets