Is it possible to divide common property during the marriage period in Vietnam? What is effective time of common property division during the marriage period in Vietnam
Is it possible to divide common property during the marriage period in Vietnam?
Based on Article 38 of the Marriage and Family Law 2014, there are provisions about common property division during the marriage period as follows:
Common property division during the marriage period
1. During the period of marriage, the husband and wife have the right to agree to divide part or all of their common property, except for the cases stipulated in Article 42 of this Law; if no agreement is reached, they have the right to request the Court to resolve it.
2. The agreement on the division of common property must be made in writing. This document shall be notarized if requested by the husband and wife or as prescribed by law.
3. If requested by the husband or wife, the Court shall resolve the division of common property in accordance with the provisions of Article 59 of this Law.
The husband and wife can divide their common property without getting divorced. This can be done through an agreement between them or by requesting the Court to resolve it. This case is referred to as the division of common property during marriage.
Except for cases stipulated in Article 42 of the Marriage and Family Law 2014; if no agreement is reached, they have the right to request the Court to resolve it. The husband and wife have the right to agree to divide part or all of their common property.
The agreement on the division of common property must be made in writing and signed by both spouses.
This agreement document is not required to be notarized; notarization is performed at the request of the spouses or if required by other relevant laws.
Note: The division of common property must ensure not falling into the cases stipulated in Article 42 of the Marriage and Family Law 2014, otherwise, it will be null and void. Specifically:
- Serious impact on the interests of the family; legal rights and interests of minor children, adult children who are incapacitated or unable to work and have no property to support themselves;
- Avoiding the fulfillment of the following obligations:
+ Maintenance obligations;
+ Compensation for damages;
+ Payment obligations when declared bankrupt by the Court;
+ Personal and organizational debt repayment obligations;
+ Tax obligations or other financial obligations to the State;
+ Other property obligations as prescribed by the Marriage and Family Law 2014, Civil Code 2015, and other relevant laws.
Is it possible to divide common property without divorce? When does the division of common property during marriage take effect? (Image Source: Internet)
What are the consequences of common property division during the marriage period in Vietnam?
Based on Article 40 of the Marriage and Family Law 2014, the consequences of common property division during the marriage period in Vietnam are as follows:
Consequences of common property division during the marriage period
1. In case of dividing the common property of husband and wife, the property divided, the yield, and the income derived from the separate property of each party after the division is the separate property of the husband or wife, unless the spouses have another agreement. The remaining undivided property remains the common property of the husband and wife.
2. The agreement of the husband and wife stipulated in Clause 1 of this Article does not change the rights and obligations regarding the property established before between the husband and wife and third parties.
The consequences of common property division during the marriage period are as follows:
(1) The property divided, the yield, and the income derived from the separate property of each party after the division is the separate property of the husband or wife, unless the spouses have another agreement. The remaining undivided property remains the common property of the husband and wife.
(2) The agreement to divide common property during marriage does not change the rights and obligations regarding the property established before between the husband and wife and third parties.
What is effective time of common property division during the marriage period in Vietnam
Based on Article 39 of the Marriage and Family Law 2014, the effective time of the division of common property during marriage in Vietnam is stipulated as follows:
- The effective time of the division of common property of the husband and wife is the time agreed upon by the husband and wife and recorded in the document. If the document does not specify the effective time, the effective time shall be calculated from the date of making the document.
- In cases where the property is divided in accordance with the law, the transaction involving the property must adhere to a certain form; the division of the common property of the husband and wife takes effect from the time the agreement complies with the form prescribed by law.
- In cases where the Court divides the common property of the husband and wife, the division of common property takes effect from the date the Court's judgment or decision takes effect.
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