Parental gifts who gets them if your marriage breaks down?
Your parents give you and your spouse some money – say, to buy a house. Then you split up. To what extent will your spouse get the benefit of the gift?
When a relationship breaks up, the matrimonial property may need to be divided between the parties. The court will go through the following steps:
determining whether it is appropriate to make an order dividing the property at all;
identifying and valuing the assets, liabilities and financial resources (otherwise known as “the pool” or “matrimonial property”);
assessing each party’s contribution to the pool;
assessing each party’s future needs;
determining what is just and equitable in all the circumstances.