When Is the Statutory Marital Asset Regime Applied?

12:51, 10/07/2024

On December 31, 2014, the Government of Vietnam issued Decree 126/2014/ND-CP providing detailed regulations for the implementation of the Law on Marriage and Family.

Decree 126/2014/ND-CP stipulates that the statutory matrimonial property regime applies in cases where the spouses do not choose to apply an agreed-upon property regime or have an agreement on the property regime, but this agreement is declared null and void by the court in accordance with Article 50 of the Law on Marriage and Family.

The statutory matrimonial property regime applies in which cases, 126/2014/ND-CP

The statutory matrimonial property regime applies in which cases (Illustration)

In addition, a third party acting in bad faith while establishing or performing transactions with a spouse related to a bank account, securities account, or other movable property not required by law to register ownership will be considered acting in bad faith under the following circumstances:

- The spouse has provided information according to Article 16 of this Decree, but the third party still establishes or performs the transaction contrary to that information;

- The agreement of spouses regarding the possession, use, and disposal of property has been publicly declared according to relevant legal provisions, and the third party knows or should have known about it but still establishes or performs the transaction contrary to the spouses' agreement.

Further details can be found in Decree 126/2014/ND-CP, effective from February 15, 2015.

Le Hai

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