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Kaploukh Victoria
Attorney
Ukraine / Kharkiv
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Publication date: 27.05.2024
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Publication date: 27.05.2024
The distribution of property of an individual entrepreneur (FOP) upon divorce is a complex issue that includes both civil law and family law aspects. The main provisions on this issue are regulated by the Civil Code of Ukraine and the Family Code of Ukraine.
- Family Code of Ukraine:
• Joint joint property of spouses: According to Article 60 of the Civil Code, property acquired by spouses during marriage is joint joint property, regardless of whose name it was acquired or which of the spouses contributed the funds.
• Division of property: Article 70 of the Civil Code stipulates that upon dissolution of marriage, the joint property of the spouses is divided equally between them, unless otherwise provided by the marriage contract.
The Civil Code of Ukraine:
• Natural person-entrepreneur: According to the CCU, the FOP is not a separate legal entity, and all the property rights and obligations of the FOP remain with the natural person who carries out entrepreneurial activity.
• Property of a sole proprietorship: Own property of a sole proprietorship may include real estate, movable property, cash in accounts, assets used in business activities, etc.
Practical aspects of the distribution of property of the FOP:
1. Separation of personal and community property: To determine the share of property that is subject to division, it is necessary to establish which property was acquired before the marriage (personal property) and which was acquired during the marriage (community property).
2. Appraisal of property value: The property value of a sole proprietorship may require an appraisal, especially if it involves business assets. Independent appraisers are often involved for this.
3. Consideration of debts: During the division of property, debts and obligations that arose during the marriage are also taken into account. Debts related to business activities can also be divided between spouses.
4. Marriage contract: If a marriage contract was concluded between the spouses, the terms of property division are determined by this contract. The marriage contract may provide for various options for the division of the property of the FOP.
Division of business of spouses - The distribution of the property of the FOP upon dissolution of marriage is a complex issue that requires taking into account many factors, including the types of property owned by the FOP, the existence of a marriage contract, debts and obligations, etc. It is recommended to contact a lawyer or family law specialist who can provide qualified advice and help in solving these issues.
The distribution of the income of an individual entrepreneur (FOP) upon divorce is a specific issue that requires consideration of both the general provisions of the legislation on the joint property of spouses and the specifics of entrepreneurial activity. Below are the key aspects and rules governing this issue in Ukraine.
- Family Code of Ukraine:
• Article 60 of the Civil Code: The property acquired by the spouses during marriage is joint joint property, unless otherwise stipulated by the marriage contract.
• Article 61 of the Civil Code: Incomes received from the business activities of one of the spouses during marriage also belong to the common joint property.
The Civil Code of Ukraine:
• Natural person entrepreneur (FOP): FOP is not a separate legal entity, and all property rights and obligations are directly related to the natural person.
Practical aspects of income distribution of the FOP:
1. Definition of joint property: If the income was received by the FOP during the marriage, it is generally considered joint property of the spouses. This means that the income of the FOP, which was received during the marriage, is subject to division upon dissolution of the marriage.
2. Accounting and documentation of income: It is important to have proper financial documentation that reflects the income and expenses of the FOP. This can include bank statements, accounting documents, tax returns, etc. Such documents will be necessary for the assessment and distribution of income.
3. Assessment of income: The income of the FOP can include both cash and tangible assets purchased with these funds. It is important to accurately estimate the value of the income to be divided.
4. Debts and obligations: During the distribution of income, it is also necessary to take into account the debts and obligations that arose in connection with business activities. This can affect the final amount of income that will be divided between the spouses.
5. Marriage contract: If a marriage contract was concluded between the spouses, the conditions for dividing the income of the FOP may be determined by this contract.A prenuptial agreement may provide for different ways of dividing income and assets.
Recommendations:
1. Consultation with a specialist: To accurately determine the share of income to be divided and take into account all legal nuances, it is recommended to contact a lawyer or a specialist in family law.
2. Financial audit: Conducting an independent financial audit can help objectively assess the income and assets of the FPO.
3. Mediation: In case of disputes regarding the division of income, mediation can be an effective way to reach a mutual agreement between the spouses.
Division of business upon divorce - The distribution of the income of the FOP in the event of a divorce is a complex process that requires careful consideration of all financial and legal aspects. The involvement of professionals will help ensure a fair and reasonable approach to the division of property and income.
The property and income of an individual entrepreneur (FOP) can be considered joint joint property of the spouses if they were acquired or received during the marriage. This is regulated by the legislation of Ukraine, in particular the Family Code of Ukraine (SKU). Below are the main principles and rules governing these issues.
- Family Code of Ukraine:
• Article 60 of the Civil Code: Defines that property acquired by spouses during marriage is their joint property.
• Article 61 of the Civil Code: Incomes received from the business activities of one of the spouses during marriage also belong to the common joint property of the spouses.
• Article 62 of the Civil Code: Defines that the personal private property of each spouse is property acquired before marriage, as well as property received as a gift or as an inheritance during marriage.
Practical aspects of the distribution of property and income of the FOP.
Property acquired before marriage:
• Property acquired before marriage is the personal property of the spouse who acquired it.
• The same applies to property received during marriage as a gift or inheritance.
Property acquired during marriage:
• All property acquired during marriage is jointly owned, regardless of whose name it is registered in or which spouse contributed the funds.
• This includes income from the entrepreneurial activity of the FOP received during the marriage.
Distribution of income:
• Income received by the FOP during the marriage is considered joint property of the spouses. This applies to both cash and tangible assets purchased with these revenues.
Debts and obligations:
• Debts and obligations incurred by the FOP during the marriage can also be taken into account during the division of property.
Marriage contract:
• If a marriage contract is concluded between the spouses, the terms of division of property and income may be determined by this contract. The marriage contract may contain provisions on the distribution of income and property of the FOP in the event of a divorce.
Results:
1. Property and income acquired during marriage are the common joint property of the spouses, subject to division upon dissolution of marriage.
2. The personal property of each spouse includes property acquired before marriage, as well as received as a gift or as an inheritance.
3. Debts related to the entrepreneurial activity of the FOP are also taken into account during the division of property.
4. A marriage contract can affect the order of property and income distribution.
Division of joint business of spouses - Divorce division of business - Considering the complexity and multifaceted nature of the issue of property and income distribution of the FOP, it is recommended to contact a lawyer or family law specialist for qualified assistance and advice.
