Divisible matrimonial assets are defined as any asset of any nature acquired during marriage by one or both spouses. Any asset acquired by a spouse before marriage is not treated as a matrimonial asset unless:

  • The asset is ordinarily used or enjoyed by both parties or one or more of their children for shelter or transportation or for household, education, recreational, social or aesthetic purposes.
  • The asset has been substantially improved during the marriage by the other party or both parties.

Any asset acquired at any time by gift or inheritance is not divisible, unless substantially improved during the marriage by the other party or by both parties to the marriage.