Question Tag: Divorce

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BL – May 2014 – L1 – SB – Q2A – Classification of Law

Advising Mrs. Devoted Hubby regarding property rights in the context of divorce.

Mr. Loverboy Hubby and Mrs. Devoted Hubby were happily married until Mr. Hubby met Miss Girlie. The desire of Mr. Hubby to follow Miss Girlie led to separation between him and his wife, and Mr. Hubby moved out of the family house to Miss Girlie’s residence.
Mr. Hubby intends to divorce Mrs. Hubby. As part of arrangement for the divorce, they met and Mr. Hubby gave her a written statement that, in consideration of Mrs. Hubby paying the mortgage on the family house which was in the name of her husband, he would transfer the house into her sole ownership. Mrs. Hubby paid the mortgage and asked for the transfer of the house, but Mr. Hubby refused, claiming that the agreement is not binding on him.
Advise Mrs. Devoted Hubby.

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PT – May 2021 – L2 – Q5b – Taxation of Capital Gains

Explain the taxation rules for asset transfers to a spouse or former spouse during a divorce settlement or upon death.

On the death or as part of a divorce settlement or bona fide separation agreement, an individual may transfer an asset to a spouse or former spouse.

Required:
What are the taxation rules on this arrangement?

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BL – May 2014 – L1 – SB – Q2A – Classification of Law

Advising Mrs. Devoted Hubby regarding property rights in the context of divorce.

Mr. Loverboy Hubby and Mrs. Devoted Hubby were happily married until Mr. Hubby met Miss Girlie. The desire of Mr. Hubby to follow Miss Girlie led to separation between him and his wife, and Mr. Hubby moved out of the family house to Miss Girlie’s residence.
Mr. Hubby intends to divorce Mrs. Hubby. As part of arrangement for the divorce, they met and Mr. Hubby gave her a written statement that, in consideration of Mrs. Hubby paying the mortgage on the family house which was in the name of her husband, he would transfer the house into her sole ownership. Mrs. Hubby paid the mortgage and asked for the transfer of the house, but Mr. Hubby refused, claiming that the agreement is not binding on him.
Advise Mrs. Devoted Hubby.

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PT – May 2021 – L2 – Q5b – Taxation of Capital Gains

Explain the taxation rules for asset transfers to a spouse or former spouse during a divorce settlement or upon death.

On the death or as part of a divorce settlement or bona fide separation agreement, an individual may transfer an asset to a spouse or former spouse.

Required:
What are the taxation rules on this arrangement?

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You're reporting an error for "PT – May 2021 – L2 – Q5b – Taxation of Capital Gains"

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