Building a life together often involves shared decisions, from choosing a home to designing its interiors. But what happens to these shared assets if the marriage dissolves? Matrimonial property holds a special legal status, and understanding its nuances is crucial for couples. In this guide, we explore the definition of matrimonial property, its legal protections, and how contributions—both financial and non-financial—are recognized under the law.
Matrimonial property refers to three categories: the matrimonial home (residence of the spouses), household goods and effects within the home, and property jointly registered and acquired during the marriage. Separate property, on the other hand, is owned individually and does not fall under these categories.
Matrimonial property cannot be sold, charged, or mortgaged without the consent of both spouses. This protection ensures that both parties have equal rights to the property, even if it is registered under one name. Separate property, however, remains under the sole control of the individual who owns it.
Contributions to matrimonial property are categorized as financial (e.g., paying a mortgage or school fees) and non-financial (e.g., companionship, homemaking). Both types are recognized under the law, ensuring equitable distribution upon the dissolution of the marriage.
Claims on matrimonial property can only be made upon the dissolution of the marriage. However, during the marriage, a spouse can seek court protection to prevent the other from disposing of the property. Division of assets occurs after divorce, based on contributions.
Consult a family law expert to navigate the complexities of matrimonial property. Legal professionals can provide clarity on rights, contributions, and the division process, ensuring fair outcomes for both parties.