Exclusion of specified family assets from division
6If marital property to be divided under section 3 or 4 includes a family asset that was acquired before the spouses married, or by one spouse as a gift from the other spouse or as a gift, devise or bequest from any other person, the Court may exclude that family asset from the division of marital property if, in the discretion of the Court, it would be unfair and unreasonable to the owner to include the family asset in the division of marital property, taking into account the circumstances of the case as well as one or more of the following considerations:
(a)
that there was no substantial contribution by the non-owning spouse to the acquisition, management, maintenance, operation or improvement of the family asset;
(b)
that the cohabitation of the spouses was of short duration; and
(c)
that the spouses had an agreement, arrangement or understanding that the use of the family asset by the non-owning spouse or any of their children would not prejudice any rights of the owning spouse to the family asset, even though this was not expressed in a domestic contract.