1. What is the common property of husband and wife?

Pursuant to the provisions of Clause 1, Article 33 of the Law on Marriage and Family 2014:

Thus, it can be understood that the common property of husband and wife includes:

– Property created by husband and wife or only created by husband and wife during the marriage by labor, production, salary, … or through business transactions, investment for profit. ;

– Profits and profits arising from separate property of husband and wife: compare according to Article 10 of Decree 126/2014/ND-CP stipulating

Profits arising from the separate property of husband and wife are natural products that husband and wife obtain from their own property.

Income arising from the separate property of a husband and wife is the profit that a husband or wife earns from the exploitation of their own property.

– Other lawful income during the marriage period: according to the provisions of Article 9 of Decree 126/2014/ND-CP guiding the implementation of the Law on Marriage and Family, other lawful incomes of the wife , husband during marriage is specified as follows:

Bonuses, lottery winnings, allowances (except for allowances and incentives that spouses receive under the provisions of the law on incentives for people with meritorious services to the revolution; other property rights attached to them. with the identity of husband and wife).

Property that spouses have established ownership rights under the provisions of the Civil Code with respect to derelict objects, buried or sunk objects, dropped or forgotten objects, damaged livestock and poultry lost, aquatic pets.

Other lawful income as prescribed by law.

– Property that husband and wife inherit together, are donated together.

– Other property agreed upon by the husband and wife is the common property of the husband and wife.

2. Division of common property during marriage

Article 38 of the Law on Marriage and Family 2014, the division of common property during the marriage is specified as follows:

Thus, in principle, the division of common property of husband and wife can be done in two ways:

– First, husband and wife agree to divide part or all of the common property. But it should be noted that the agreement on division of common property of husband and wife during the mandatory marriage period is in writing and notarized at the request of the husband and wife or as prescribed by law.

– Second, the spouses request the Court to settle.

3. Circumstances in which common property division during marriage is invalidated

The division of common property during the marriage period is invalidated in one of the cases specified in Article 42 of the Law on Marriage and Family 2014:

– Serious harm to the family’s interests; legitimate rights and interests of minor children, adult children who have lost their civil act capacity or are unable to work and have no property to support themselves.

To avoid performing the following obligations:

+ The obligation to nurture and support;

+ The obligation to compensate for damage;

+ Payment obligations when the Court declares bankruptcy;

+ Obligation to pay debts to individuals and organizations;

+ The obligation to pay tax or other financial obligations to the State;

+ Other property-related obligations as prescribed by this Law, the Civil Code and other relevant laws.

4. Some Notes

– Husband and wife are equal in rights and obligations in the creation, possession, use and disposition of common property; does not distinguish between labor within family and labor with income.

– For property under common ownership of husband and wife that is required by law to have ownership and use rights registered, the certificate of ownership or certificate of use right must include the names of both husband and wife, except where the husband and wife have other agreements. In case the certificate of ownership or the certificate of right to use property only shows the name of one spouse, when performing transactions related to this property, the consent of both spouses must also be obtained.

– The possession, use and disposition of common property are: Real estate; movable property that must be registered by law for ownership; The property that is the main source of income for the family must be agreed in writing by the husband and wife.

Above is the advice of Khoa Tin Law on: “Law on marital property.”

In case customers have unclear issues or need to discuss further, please contact us at phone number 0983 533 005 for a free consultation.

Best regards./.