Property Division 26/12/2022
In case the parties do not reach an agreement, they have the right to request the court to settle in accordance with the provisions of law. Apolo Lawyers - Solicitors & Litigators will point out the principles of common property division in 2022.
Accordingly, on the matter of property division, it will be divided according to the provisions of Article 59 of the Law on Marriage and Family 2014 specifically stipulating the principles of division as follows:
In case of applying the agreed matrimonial property regime, the settlement of property upon divorce must comply with such agreement. In case the agreement is insufficient or unclear, the settlement must comply with corresponding provisions of Clauses 2, 3, 4 and 5 of this Article and Articles 60, 61, 62, 63 and 64 of this Law.
Circumstances of the family, husband and wife;
Contributions of each spouse to the creation, maintenance and development of common property. The housework done in the family by a spouse shall be regarded as income-generating labor;
Protecting the legitimate interests of each spouse in their production, business and career activities to create conditions for them to continue working to generate incomes;
The faults of each spouse in the infringement of spousal rights and obligations.
Common property of husband and wife shall be divided in kind, if impossible to be divided in kind, common property shall be divided based on its value. The partner who receives the property in kind with a value bigger than the portion he/she is entitled to receive shall pay the value difference to the other.
>> Read more: Division of land use rights upon divorce
Separate property of a spouse shall be under his/her ownership, except for separate property already merged into common property in accordance with this Law.
A spouse who requests division of separate property which has been merged into or mixed with common property shall be paid for the value of his/her property contributed to common property, unless otherwise agreed by husband and wife.
According to Article 33 of the Law on Marriage and Family 2014, in particular, common property includes:
+ Property created by husband and wife, income from labor, production and business activities, yields, profits arising from separate property and other lawful income during the marriage period
+ Property that husband and wife inherit jointly or are given as a gift and other property agreed upon by husband and wife is common property.
+ The land use right acquired by husband and wife after marriage is the common property of husband and wife, except where the spouses are separately inherited, given separately or acquired through transactions with separate property.
+ Common property of husband and wife is under common ownership and is used to meet the needs of family and fulfill their common obligations.
In short, the common property dispute after divorce is very complicated, so it requires a lawyer to participate in order to advise and best protect the rights of the couple. Disputes over common property usually consume a lot of time and costs. Therefore, it is best when divorced, husband and wife should sit down to agree on the division of property, which not only saves time and costs but also preserves at least the relationship of husband and wife after the divorce.
In case the two parties cannot come to an agreement, it is necessary to bring the case to court for settlement, then it is extremely necessary to ask a divorce lawyer in cases of common property disputes. The lawyer will advise you on how to distinguish between common property may also be different, so the lawyers will give you all detailed advice for you to understand. In the event that two spouses have different opinions on determining whether the property is separate or common, our lawyers will provide legal support to best protect your interests.
Apolo Lawyers is very confident to help you resolve your problem relating to property division in divorce. So, please contact us via Apolo Lawyers - Solicitors & Litigators or Hotline: (+84) 903.419.479 for more information.
>> Read more: Principles of common property division upon divorce