For many reasons such as: Disagreement in the management and use of common property, emotional conflicts, wanting to be financially independent, etc., many couples have chosen to divide their common property during marriage.
Is this division legally recognized? Can property be divided during marriage? Which agency has the right to approve this division? Here are our answers to your questions!
Dividing common property in the current marriage is no longer a new issue for couples who are having problems in their marriage or who simply want to separate their property.
It is the husband and wife’s agreed written request to the Court to settle the division of existing and future common property during the marriage, this is to help split the common property between them to become their individual property even while the marital relationship still exists.
The division of common property of husband and wife is based on the conditions and principles specified in the Law on Marriage and Family 2014 and Decree 126/2014/ND-CP in order to protect the lawful rights and interests of husband and wife in relation to property.
Article 33 of the Law on Marriage and Family 2014, stipulates that:
Common property of husband and wife includes property created by husband and wife’s income from labor, production and business activities, yields, profits arising from separate property and other lawful incomes during marriage, unless there is a valid pre-nuptial agreement in place that states otherwise.
Property that husband and wife inherit jointly or are given as a gift during marriage and other property agreed upon by husband and wife is common property.
Land use rights acquired by husband and wife after marriage are the common property, except for cases where the spouses are separately inherited, given separately or acquired through transactions with separate property.
The husband and wife’s common property is under common ownership and is used to meet the family’s needs and fulfill the husband and wife’s common obligations. In case there are no grounds to prove that the property in dispute between husband and wife is the separate property of each party, such property shall be considered as common property.
The division of common property during the marriage period is specified in Article 38 of the Law on Marriage and Family 2014 as follows:
During the marriage, husband and wife have the right to agree to divide part or all of the common property. Agreement on division of common property must be made in writing. This document is notarized at the request of the husband and wife or as prescribed by law.
If the husband and wife cannot reach an agreement, they have the right to request the Court to settle the division of common property according to regulations.
Article 39 of the Law on Marriage and Family 2014 defines:
Article 41 of the Law on Marriage and Family 2014 provides for the termination of the validity of the division of common property during the marriage period as follows:
The division of common property during the marriage period is invalid in one of the cases specified in Article 42 of the Law on Marriage and Family 2014:
Thus, husband and wife can completely divide the common property during the marriage. However, it is necessary to pay attention to the provisions of the law on this issue, and at the same time make the property division clearly and seriously to avoid unnecessary disputes later.
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Le & Tran Building – Headquarters: Area No. 284 (Bld 9), Nguyen Trong Tuyen Street, Ward 10, Phu Nhuan District, Ho Chi Minh City
Saigon Tower – City Center Office: Unit 8, Level 16, 29 Le Duan Blvd, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam
Daeha Business Center – Ha Noi Office: No.1606, 16th Floor, 360 Kim Ma Street, Ba Dinh District, Hanoi City