Effective time of common property division during the marriage period in Vietnam

Effective time of common property division during the marriage period in Vietnam (Internet image)

Regarding this matter, LawNet would like to answer as follows: 

1. Regulations on common property division during the marriage period in Vietnam 

According to Article 38 of the Law on Marriage and Family 2014, the regulations on common property division during the marriage period in Vietnam  are as follows:

- The effective time of a common property division shall be agreed by husband and wife and stated in the written agreement. If such time is not stated in the written agreement, it is the date of making the agreement.

- For divided property whose transactions must be under a certain form as prescribed by law, the common property division takes effect on the time the division agreement complies with the form prescribed by law.

- For common property divided by a court, the division takes effect on the legally effective date of the court’s judgment or decision.

- Property rights and obligations between husband and wife and a third party which arise before the effective time of common property division remain legally effective, unless otherwise agreed by involved parties.

2. Effective time of common property division during the marriage period in Vietnam

According to Article 39 of the Law on Marriage and Family 2014, the effective time of common property division during the marriage period is stipulated as follows:

- The effective time of a common property division shall be agreed by husband and wife and stated in the written agreement. If such time is not stated in the written agreement, it is the date of making the agreement.

- For divided property whose transactions must be under a certain form as prescribed by law, the common property division takes effect on the time the division agreement complies with the form prescribed by law.

- For common property divided by a court, the division takes effect on the legally effective date of the court’s judgment or decision.

- Property rights and obligations between husband and wife and a third party which arise before the effective time of common property division remain legally effective, unless otherwise agreed by involved parties.

3. Consequences of common property division during the marriage period in Vietnam

Article 40 of the Law on Marriage and Family 2014 stipulates the consequences of common property division during the marriage period as follows:

- The division of common property in the marriage period shall not lead to termination of the statutory matrimonial property regime.

- From the time the division of common property takes effect, the divided property and yields and profits from such property and yields and profits from other separate property of a spouse must be the separate property of that spouse, unless otherwise agreed by husband and wife.

- From the time the division of common property takes effect, property gained from the exploitation of separate property of a spouse which cannot be determined as income from labor or production and business activities of a spouse or as yields or profits from such separate property must be under the joint ownership of husband and wife.

To Quoc Trinh

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