Protecting the Legitimate Interests of Each Party in Production, Business, and Profession When Dividing Assets in Divorce

Based on Point c Clause 3 Article 7 of Joint Circular 01/2016/TTLT-TANDTC-VKSNDTC-BTP, it is stipulated:

In cases where the statutory spousal asset policies are applied to divide marital assets upon divorce, the common property of the spouses is, in principle, divided equally but taking into account the following factors to determine the proportion of assets allocated to each spouse:

“Protecting the legitimate interests of each party in production, business, and occupation to ensure that each party has the conditions to continue working to generate income” means that the division of common assets should ensure that each spouse can continue their profession; for production and business, it should ensure that they can continue to produce and conduct business to generate income, and that the value difference of the assets must be compensated to the other party. Protecting the legitimate interests of each side in production, business, and professional activities should not affect the minimum living conditions of the spouses and their minor children or adult children who lack civil act capacity.

Example: A couple has a common asset of a car worth 400 million VND which the husband uses as a taxi, and a grocery store worth 200 million VND which the wife operates. When resolving the divorce and dividing the common assets, the Court must consider assigning the grocery store to the wife and the car to the husband so they can continue their respective business activities to generate income. The husband, who receives the higher value asset, must compensate the wife with 100 million VND.

Respectfully!