Can husband use common property as contributed asset in Vietnam?
Can husband use common property as contributed asset in Vietnam? My name is Khoa, 30 years old, and my wife is Tham. My wife and I have a car that I bought in my name after getting married, I use the car to work at Grab. Can I use my car as an asset to contribute capital now?
Can husband use common property as contributed asset in Vietnam?
Pursuant to Article 33 of the Law on Marriage and Family 2014, common property of husband and wife is as follows:
1. Common property of husband and wife includes property created by a spouse, incomes generated from labor, production and business activities, yields and profits arising from separate property and other lawful incomes in the marriage period; except the case prescribed in Clause 1, Article 40 of this Law; property jointly inherited by or given to both, and other property agreed upon by husband and wife as common property.
The land use rights obtained by a spouse after marriage shall be common property of husband and wife, unless they are separately inherited by, or given to a spouse or are obtained through transactions made with separate property.
2. Common property of husband and wife shall be under integrated common ownership and used to meet family needs and perform common obligations of husband and wife.
3. When exists no ground to prove that a property in dispute between husband and wife is his/her separate property, such property shall be regarded as common property.
Pursuant to Article 34 of the Enterprise Law 2020 stipulates contributed assets as capital as follows:
1. Contributed assets include VND, convertible foreign currencies, gold, land use right (LUR), intellectual property rights, technologies, technical secrets, other assets that can be converted into VND.
2. Only the individual or organization that has the lawful right to ownership or right to use the asset mentioned in Clause 1 of this Article may contribute it as capital as prescribed by law.
Besides, Article 36 of the Law on Marriage and Family 2014 stipulates that common property used for business activities as follows:
When husband and wife reach agreement on either spouse’s use of common property for business activities, this spouse has the right to make transactions related to that common property on his/her own. This agreement shall be made in writing.
Thus, according to current regulations in Vietnam, compared with the case you mentioned, you can completely use the common property of the husband and wife as capital contribution. However, you should note that this agreement needs to be in writing.
Best Regards!
