An asset owned by one or both of the spouses and ordinarily used by a spouse or minor child of either spouse for a family purpose is a family asset. For example, the matrimonial home, furniture, and c [..]

A family asset is anything owned by both spouses together, or by either spouse separately and ordinarily used for a family purpose. They are subject to division on the breakdown of the marriage. The most common examples of family assets are the family home and its contents and the family car. Other family assets might include bank accounts or inves [..]