Can parents keep their own money?

The Law on Marriage and Family 2014 recognizes children's right to own property. However, many parents believe that their children's own money is kept by the parents by default. So from a legal perspective, can parents keep their children's money?

Can parents keep their own money?

Can parents keep their own money? (Illustration)

1. Can parents keep their own money?

According to Clause 1, Article 75 of the Law on Marriage and Family , children's separate property includes:

- Privately inherited or donated property;

- Income from children's labor;

- Yields and profits arising from the child's own property;

- Other lawful income.

At the same time, the property formed from the child's own property is also the child's own property.

According to this provision, children have complete rights to their own property over the above-mentioned types of property.

Pursuant to Article 76 of the Law on Marriage and Family , the management of a child's separate property will depend on the child's age, specifically as follows:

Children aged full 15 years and older can manage their own property or ask their parents to manage them.

- Children under 15 years old, children who have lost their civil act capacity under the management of their parents. Parents can authorize others to manage their children's private property. A child's own property managed by a parent or another person shall be returned to the child when the child is full 15 years of age or older or when the child regains full civil act capacity, unless otherwise agreed upon by the parents and the child. other.

Thus , parents can keep their own money when the child is under 15 years old and hand it over to the child when the child is full 15 years old or older. When a child is 15 years old or older, he/she has the complete right to manage his/her own property unless he/she asks his/her parents to manage it on his/her behalf.

On the other hand, note that the parent does not manage the child's private property in the following cases:

- The child is being warded by another person according to the provisions of the Civil Code;

- The person who donates the property or leaves an inheritance according to the will to the child who has appointed another person to manage such property or in other cases as prescribed by law.

- In case the parents are managing the private property of their minor children, the adult children have lost their civil act capacity and the children are assigned to be guardians of other persons, the children's own property shall be handed over to the guardians. managed in accordance with the provisions of the Civil Code.

In addition, the law also stipulates the disposition of private property of minor children or adult children who have lost their civil act capacity, specifically:

- When the child is under 15 years old, the parent or guardian managing the child's own property has the right to dispose of such property for the benefit of the child. If the child is full 9 years old or older, the child's wishes must be considered.

- Children aged between full 15 and under 18 years have the right to dispose of their own property, except where the property is immovable property, movable property with registered ownership, right to use or use the property for business. written consent of a parent or guardian.

In cases where an adult child has lost his/her civil act capacity, the child's separate property will be disposed of by the guardian.

2. Penalties for appropriating children's private property

In Clause 1, Article 58 of Decree 144/2021/ND-CP stipulates as follows:

A fine ranging from VND 20,000,000 to VND 30,000,000 shall be imposed for appropriating private property of family members.

Thus, when parents commit acts of appropriating their children's private property, they can be fined from 20 to 30 million VND. This fine has increased sharply compared to the old regulations at Point a, Clause 2, Article 56 of Decree 167/2013/ND-CP (from VND 500,000 to VND 1 million).

3. Parents who keep their children's lucky money will be fined up to 30 million VND?

As mentioned above, only when there is an act of appropriating the private property of a family member (father, mother, wife, husband, biological child, adopted child, brother, sister, brother, etc.) will a fine from 20-30 million dong.

At the same time, to confirm that parents who keep their children's lucky money are fined up to 30 million VND according to the above regulations, it is necessary to consider whether this is an act of "appropriating children's private property" or not.

Because in reality, the purpose of parents keeping their children's lucky money often comes from the following reasons: to let their children save money or use lucky money to spend on necessary activities for their children such as buying clothes for children, books, paying school fees... Very rarely, parents keep their children's lucky money because they want to appropriate their children's property. Therefore, not all cases, parents who keep all their children's lucky money will be fined up to 30 million VND.

Jewel

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