The divorce rate is on the rise. In the divorce settlement process, the issue of property division is always concerned. What knowledge do husband and wife need to have about the principle of property division to comply with the Law? How is the division of property between husband and wife upon divorce in Vietnam? Let us find out about this issue with LSX Law firm.
Marriage and Family Law 2014
Principle of property division between husband and wife upon divorce in Vietnam
Accordingly, Article 59, Marriage and Family Law 2014:
Firstly, the concerned parties shall agree on the settlement of property to apply the statutory matrimonial property regime. If they fail to reach an agreement thereon, at the request of a spouse or both; a court shall settle it according to Clauses 2, 3, 4, and 5 of this Article and Articles 60, 61, 62, 63, and 64 of this Law.
Moreover, in applying the agreed matrimonial property regime, the property settlement upon divorce must comply with such agreement. If 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.
Secondly, the Law shall divide the common property into two, taking into account the following factors:
a/ Circumstances of the family, husband, and wife;
b/ Each spouse’s contributions to the creation, maintenance, and development of the common property. The housework done in the family by a spouse shall be as income-generating labor;
c/ 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;
d/ Each spouse’s faults in the infringement of spousal rights and obligations.
Thus, the division of property upon divorce must determine the spouse’s common property and separate property.
The implementation process of property division between husband and wife upon divorce in Vietnam
Normally, husband and wife shall divide the property in kind. If impossible to divide in kind, it shall base on the property’s value. The partner receiving the property in kind with a value more extensive than the portion he/she is entitled to receive shall pay the value difference to the other.
A spouse’s separate property shall be under his/her ownership, except for separate property already merged into the common property under this Law.
A spouse who requests division of separate property mixed with the shared property; shall receive the value of his/her property contributed to common property unless otherwise agreed by husband and wife.
In addition, Law also protects The lawful rights and interests of the wife, minor children; or adult children who lost civil act capacity or have no working capacity and no property to support themselves.
Besides, the Supreme People’s Court shall assume the prime responsibility for and coordinate with the Supreme People’s Procuracy and the Ministry of Justice, guiding this Article.
Hope the article is helpful for you to read!
Common property of husband and wife includes:
Firstly, property jointly made by husband and wife;
Secondly, property that husband and wife inherit or donate together;
Thirdly, troperty agreed upon by husband and wife is common property;
Moreover, husband and wife can agree on their common property
Separate property of husband and wife includes:
Property that each person had before marriage; separately inherited property, given separately during the marriage; property to be divided separately between husband and wife;
Property serving the essential needs of the spouses and other properties which, as prescribed by Law, are separately owned by the spouses;
The property formed from the separate property of the husband and wife is also the separate property of the husband and wife. yield, income arising from separate property during the marriage