The division of the joint property of husband and wife upon divorce is a common problem that couples meet after divorce. These disputes when arising are often very complicated and prolonged because the practice of resolving disputes about joint property division is associated with many different situations with different types of assets.
FIRSTLY, THE PRINCIPLE OF SETTLING PROPERTY OF HUSBAND AND WIFE:
1. Rules for settling a joint property dispute upon divorce in cases the property regime is an agreement
An agreed property regime (also called an assessed property regime) is a set of rules est
ablished by the couple themselves based on legal permission to replace property regime for regulating the property relationship of husband and wife. Property regime of husband and wife under agreement shall comply with the provisions of Articles 47, 48, 49, 50 and 59 of Law on Marriage and Family.
The husband and wife have the right to choose to apply the property regime according to law or the property regime according to the agreement.
.This agreement must be made before marriage, in the form of notarized or authenticated documents. The property regime of husband and wife takes effect from the time of marriage registration
.Therefore, upon divorce, if there is a request for division of joint property, the Court shall consider, if there is a written agreement on the property regime of the couple and this document is not completely invalidated by the Court then the Court could apply the contents of the agreement to divide the couple property
upon divorce. For matters that are not agreed upon by the couple or the agreement is unclear or invalid, the provisions of the law apply, the effective agreements are still respected and implemented.
2. Rules for settling a husband and wife property dispute when divorced in case the property regime is statutory
The statutory property regime of husband and wife shall comply with the provisions of Articles 33 to 46 and Article 59 to Article 64 of the Law on Marriage and Family
+ The situation of the family and of the couple;
+ Contribution of husband and wife to the creation, maintenance, and development
of joint property. Labor of wife and husband in the family is regarded as a labor with income;
+ Protecting the legitimate interests of each party in production, business and occupation so that the parties can continue working for income generation;
+ The fault of each party violates the rights and obligations of husband and wife.
SECONDLY, SETTLING PROPERTY OF HUSBAND AND WIFE IN SOME CASES:
1. Division of property in case the couple lives with their family
2. Divide the land use right of husband and wife upon divorce
Upon divorce, the division of land use rights being the joint property of husband and wife is done as follows:
3. Dividing the joint property of husband and wife put into business
When divorced, a spouse who is conducting business activities related to joint property of husband and wife is entitled to receive such property and must pay to the other party the value of the property he/she is entitled to, except for cases where other laws on business (Article 64 of Law on Marriage and Family 2014).
The process of asset division will be more complicated and time-consuming if the couple owns many different types of assets. It is advisable that the client engage a professional law firm in Vietnam to assist with the advisory and investment registration process. With the board experienced of divorce Law in Vietnam, Apolo Lawyers we believe to provide our client with a smooth process in the shortest time.
More information can be found on the website: www.apolo.com.vn.