If an asset has been purchased post separation using assets of the marriage, then there is a strong basis for claiming that both parties have contributed to the asset.
However, in a situation where one spouse acquires property several years after separation from income generated post separation, then it would be difficult to substantiate a claim.
Where a business asset is sold after separation and the asset was built up during the course of the relationship then it can be possible to claim the proceeds as an asset of the relationship.
If a claim is brought to the Court for determination, it is important to remember that the Court looks at the financial position of the parties at the time of hearing. This can be several years after separation.
The Court will also consider other issues such as future needs, income earning capacity and maintenance concerns when determining a property settlement.
