Asked by Confused
on 13-08-2018 13:43:55
Question posted in the Divorce Law
category relating to Western Cape
Question value: R 300.00
I am about to begin settlement discussions with my husband. We are both SA citizens married outside Cape Town under ANC with accrual. We started a business together in the USA with 5 other partners. It is a wildlife/expedition company and my husband and I are guides. My husband has said that he does not want to work with me on the trips anymore which means I cannot get the required 150 days of work to remain an active partner so I am being forced to sell my shares and give up my partnership. My husband owns 25% and I own 8.5%. The money used to pay for all these shares came from my husband's excluded portfolio from before we were married. I have been told that because there was no agreement to pay him back for the initial cost of the shares they have become a donation to me and therefore are mine. BUT the question remains: does he have a claim against my half of the share pay-out (which will only be paid in Jan 2020 when my partnership ends) and do I have a claim to half of his share value even though the money used to buy the shares came from his excluded asset? I have been told different things by different lawyers. I am very confused about what is what.
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