Publication date: 28.05.2024
Divorce is a difficult stage in anyone's life, and the division of property in a divorce adds additional challenges. In this article, we will consider the main aspects of the division of joint property of spouses, procedures and legal nuances that will help protect your interests.
Division of common property of spouses: Basic principles
The division of the property of the spouses after the divorce is carried out on the basis of the principle of equality, unless otherwise stipulated by the marriage contract or other legal documents. This means that all jointly acquired property during marriage is subject to equal division between the spouses.
How property is divided after divorce: The main stages
The process of property division after divorce consists of several key stages:
Determination of the composition of joint property. Joint property is what was acquired during the marriage. This includes real estate, cars, bank accounts, securities, business assets, and more.
Property valuation. It is important to have an independent appraisal of the property to determine its market value. This will help avoid disputes during distribution.
Negotiations and agreements. Spouses can try to reach an agreement on the division of property on their own or through mediation.
Judicial proceedings. If it was not possible to reach an agreement, the case goes to the court, which makes a decision on the division of property.
Distribution of property between spouses: Court practice
Judicial distribution of marital property after divorce takes into account several factors:
Contribution of each spouse. The court may take into account the contributions of each spouse to the acquisition of property.
Children's interests. If there are minor children, the court may give preference to the spouse with whom the children remain.
Financial position. The court can take into account the financial situation of each spouse after the divorce.
Division of property after divorce: Important points
There are several important aspects to consider when dividing property after a divorce:
Personal property. Personal items acquired before marriage or received as a gift or inheritance are not subject to division.
Debt responsibility. Joint debts are also subject to division proportionally.
Marriage contract. If the spouses have entered into a marriage contract, its terms have priority over the general rules of the law.
Divorce and property division: Advice from a lawyer
The process of dividing property in a divorce can be less stressful if you follow a few simple tips:
Consult a lawyer. A professional lawyer will help protect your interests and ensure compliance with all legal formalities.
Document everything. Keep all property ownership documents, bills, receipts and other important papers.
Take your time. Property distribution is a complex process that requires careful analysis and thoughtful decisions.
Division of marital property after divorce: Frequently asked questions
What does joint property of spouses include?
Marital property includes everything acquired during the marriage: real estate, cars, bank accounts, securities, business assets, and other property.
How is property assessed?
The property is appraised by an independent appraiser who determines the market value of the property at the time of division.
What to do if one of the spouses hides property?
If there is a suspicion that one of the spouses is hiding property, you can apply to the court with a request to provide relevant information or conduct an investigation with the help of a lawyer.
Division of property during divorce: Practical examples
Example 1: Division of real estate
The couple has an apartment that they bought during their marriage. During the divorce, the apartment can be sold and the proceeds divided between the spouses. Another option is that one of the spouses can keep the apartment for himself, paying the other his share.
Example 2: Business division
If a spouse owns a joint business, its value is assessed and the share of each spouse is determined according to their contributions and participation in the business. Possible options include a buyout by one of the spouses or a sale of the business to a third party with the proceeds split.
Conclusion
Dividing property during a divorce is a complex and multifaceted process that requires legal knowledge and a professional approach. To protect your interests, it is important to contact experienced lawyers who will help you get through this stage with minimal losses. Remember that proper documentation, careful analysis, and informed decisions are the keys to a successful distribution of assets after a divorce.
