couple who carry out the divorce procedure must, of course, be attached to an agreement on the division of common property because after the Court settles the divorce, the property and personal rights of the two are independent.
Upon divorce, the settlement of property will be agreed upon by the parties; In case no agreement can be reached, at the request of the spouses or husband and wife, the People’s Court shall decide to divide the common property according to the conditions and principles specified in the Law on Marriage and Family 2014 and Decree No. 126/2014/ND-CP to protect the lawful rights and interests of husband and wife in common property.
Principles of division of marital property upon divorce
(1) Principles of determining marital property
– Property formed by labor, production and business activities and other lawful incomes of husband and wife during the marriage period; property that husband and wife inherit jointly or as a gift together and other property that husband and wife agree to be common property.
– The husband and wife’s separate property is agreed to be merged into the common property by both parties.
(2) How does the court divide common property?
The court will base on the request of the parties upon divorce as a basis for division of common property. If one party has a specific request, the other party does not, the Court will naturally settle it at the specific request of one party, except for cases where it is deemed necessary to protect the legitimate rights and interests of mothers and children. If there is no specific request or the husband and wife’s requirements are in conflict, the husband and wife’s property regime prescribed by law shall apply to divide the property of husband and wife upon divorce. The common property of husband and wife is in principle divided equally, but the following factors are taken into account to determine the proportion of property that the husband and wife are divided:
(a) “Patients of the family and of spouses” means the state of the wife’s legal capacity, behavioral capacity, health, property, ability to work and generate income after divorce, husband as well as other members of the family in which the husband and wife have personal rights and obligations and property in accordance with the Law on Marriage and Family. The party facing more difficulties after the divorce is entitled to a larger share of the property than the other party or is given priority to receive the type of property to ensure the maintenance and stability of their life, but must be consistent with the actual circumstances of the spouse. family and husband and wife;
(b) “Contributing effort of husband and wife to the creation, maintenance and development of common property” means the contribution of separate property, income, family work and labor of husband and wife. in the creation, maintenance and development of common property. A wife or husband who stays at home to take care of children and family but does not work is counted as an employee with income equivalent to that of a working husband or wife. The party with more effort to contribute will be shared more;
(c) “Protecting the legitimate interests of each party in production, business and profession so that the parties have conditions to continue working to generate income” means the division of common property of husband and wife must ensure for the wife. , husbands who are currently active in their profession may continue to practice; husband and wife who are engaged in production and business activities may continue to produce and do business to generate income and must pay the other party the difference in property value. The protection of the legitimate interests of each party in production, business and professional activities must not affect the minimum living conditions of spouses and minor children, adult children who have lost their legal capacity to act. civil law;
(d) “The fault of each party in violating the rights and obligations of husband and wife” is the fault of the spouses in violation of their personal rights and obligations, resulting in divorce.
The value of common property of husband and wife and separate property of husband and wife is determined according to the market price at the time of first-instance settlement of the case.
When settling property division upon divorce, the Court must consider to protect the lawful rights and interests of the wife, minor children, adult children who have lost their civil act capacity or are incapable of working. working and have no assets to support themselves.
Above are the sharing of the principles of division of common property of husband and wife upon divorce. For legal assistance and/or enquiries, please contact:
DHP LAW – DHP LAW
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Source: ST
