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| 16:19 Feb 11, 2023 |
| English to Polish translations [PRO] Law/Patents - Law (general) / Term | |||||||
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| 2 | majątek o możliwym do określenia/ustalenia źródle pochodzenia / ... o określonym/ustalonym źródle p. |
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Answers
3 hrs confidence: 
| traced property / traceable property majątek o możliwym do określenia/ustalenia źródle pochodzenia / ... o określonym/ustalonym źródle p. Explanation: majątek o możliwym do określenia/ustalenia źródle pochodzenia ... o określonym/ustalonym źródle pochodzenia --- Canada As long as such property or income was not put into the matrimonial home and as long as it can still be “traced,” the value may still be excluded from a parties’ net family property. The best way of understanding excluded and traceable property is by way of an example. Let us assume that a wife receives, during the marriage, a $20,000 inheritance from her great aunt. The wife then uses $10,000 of those funds to purchase a vehicle; a further $5,000 goes towards repairs to the matrimonial home; and finally, the remaining $5,000 gets put into a separate investment fund which only includes the inherited funds. Two years later the wife separates from her husband. In this instance, the wife would be able to exclude the value of the vehicle she purchased, as well as the value of the investment fund (including any interest accruing providing that there was a deed of gift made that excluded the interest). However, the wife would not be able to exclude the $5,000 value she put towards improvements to the matrimonial home. While this straightforward and simple example is helpful in explaining how items can be excluded and traced, tracing can often become quite complex, particularly when excludable property is deposited into joint accounts or mixed with other assets. Over time, the Courts have developed and evolved “tracing rules” to assist with these more complex situations. In the instance where a spouse transfers inherited funds into a joint account with the other spouse, this confers an interest in the spouse. As a result, the spouse in receipt of the inheritance loses the exclusion only to the extent of the gift he or she made to the other spouse. The spouse who originally received the inheritance and then put it into a joint account will still be permitted to exclude one half of the value of the joint property, or property into which the gifted property can be traced. https://www.separation.ca/videos/division-of-assets-property... traceable property (this means property that started out in one exempt category but may have ended up in some other form. So, for example, if a person took his/her damage award for injuries suffered in an automobile accident and purchased GICs, the GICs are still exempt because they can be traced back to the original exempt category.) https://www.divorcemag.com/articles/yours-mine-and-ours http://196.189.45.87/bitstream/123456789/48883/1/74.pdf |
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