421
In forceWhat is matrimonial property
Chapter 10General exemptions
Part 3Exemptions for matrimonial and de facto relationship instruments
Division 1Some basic concepts for matrimonial and de facto relationship instruments
421 What is matrimonial property
Matrimonial property is property of the parties to a marriage or of either of them that is—
(a)
residential land, the residence on which is for use as the principal residence of the party to whom it is to be or is being transferred; or
(b)
a vehicle for use for private purposes by the party to whom it is to be or is being transferred.
This Act’s bill:Explanatory memorandum
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