Division of jointly acquired property in case of divorce

Division of jointly acquired property in case of divorce

If a married couple decides to dissolve their marriage, they need to take care of the division of their jointly acquired property. The spouses can either come to a mutual agreement, in which they themselves agree on what part each of them will get, or the matter will be resolved in court.

If no steps have been taken on this issue, then all family property remains in common ownership, which means that each spouse will be able to dispose of it at their own discretion, and often this happens without coordinating the interests of the wife or husband.

Division of property of spouses during divorce

Ukrainian legislation clearly limits the property that is subject to division in divorce proceedings. If one of the spouses did not work during family life because they were caring for a child or doing housework, they are still entitled to a share of the property, since these reasons are considered valid.

The following categories are subject to division:

1. Movable and immovable property purchased or produced with the family’s common income (house, apartment, car, etc.). If we are talking about real estate, then both completed objects and those currently in the construction phase are subject to division.
2. Wages, other income and remuneration for labor, creative, intellectual and other activities of spouses.
3. Monetary compensation, pensions and other funds received without a designated purpose.
4. Share in a common business, deposits, investment shares, securities (accounted for at current value or at par if they have lost their value).
5. Common loans and other debt obligations are also taken into account, including mortgages. This type of debt is subject to distribution both if it was issued during the marriage and if one of the spouses took out a mortgage to start a family, but payments continue after marriage.

Although the personal belongings of spouses are not subject to division, an exception is jewelry and antiques purchased from the family budget. Remember that property received as a gift or inheritance is considered the personal property of a spouse only if he or she can prove it: present a deed of gift, an inheritance agreement, or witness testimony.

The property of minor children should be mentioned separately. It is not included in the division and, as a rule, is transferred to the parent with whom the children remain after the divorce.

Methods of dividing the common property of spouses during divorce

As already noted, spouses can agree on how the property will be divided, or this issue will be resolved in court. Each option has its own nuances.

Peaceful division of property of spouses upon divorce

This is the best option, as it will save the divorcee time, money and nerves. In order to implement it, you need to:

• conclude an agreement on who will receive what portion of the property after the divorce;
• have it certified by a notary;
• add it to the divorce application or present it in court if the agreement was reached during the proceedings.

Division of jointly acquired property of spouses through the court

There is a need for legal proceedings when spouses have property disputes. In this case, the procedure is as follows.

• An application with demands for division is filed by one or both spouses – simultaneously with the divorce documents or at any time within three years after the dissolution of the marriage.
• A detailed description of all common property is drawn up and certified.
• Is a state fee paid?
• During the trial, the court determines what part of the property will go to each wife. As a rule, when distributing values, the judge observes the rules of equality of parts. But if there are good reasons to leave him, the parts will be divided into more and less. Such circumstances include:

1. incapacity of one party;
2. minor children who remain with one of the spouses;
3. irrational use of common property by one party and other – at the discretion of the court.

• If the spouses have a marriage contract concluded according to all the rules and certified, which specifies how the property will be divided in the event of a divorce, the judge will be guided by it. However, one party may claim that the document contained clearly unfavorable conditions for it. If this fact is proven, the judge may annul the contract and divide the property in the course of further proceedings.

The procedure for dividing jointly acquired property of spouses through the court

The amount of the state duty is calculated based on the value of the valuables. The fee must be calculated and paid before the divorce claim is filed. If the judge doubts the correct calculation of the value of the property, he may order a re-evaluation procedure.

The amount of the state fee may be slightly reduced or a deferment of its payment may be granted. This happens when the plaintiff is in a difficult financial situation or, for example, has dependents and can prove it.

If the actual share of the property of one of the spouses exceeds his share in monetary terms (for example, he got an apartment, the cost of which is more than the cost of his share), then he is obliged to pay the difference to the other. Or you can sell the property and divide the amount received between the parties.

Division of jointly acquired property of spouses through the court

Only valuables that were earned or acquired during family life are subject to division of property during divorce. Children’s property is not subject to distribution between spouses.

The procedure can be carried out peacefully, by concluding and certifying a transaction. It can also be carried out in court, when the judge himself distributes parts of the jointly acquired property between the parties. In this case, the plaintiff must make an inventory and pay a state fee.