When it comes to dispute, it is not easy for husband and wife to sit down and talk. When still in peace, it would be better that a family dispute lawyer in Vietnam is consulted for long term solution.
Financial issues in a marriage are always stressful and can be a potential source of disagreements. It is important to resolve disagreements through clear understanding, and clear agreements on the issue of common and separate property of husband and wife. For better understanding and making clear agreements on financial matters, a family dispute lawyer in Vietnam could be engaged for help instead of the husband and wife trying to figure themselves.
In Vietnam, the Law on Marriage and Family is a legal document regulating social relations on marriage and family. Accordingly, the property regime of husband and wife will need to follow certain general principles.
In the family, husband and wife have equal rights and obligations in the creation, possession, use and disposition of their common property without discrimination between housework labor and income-generating labor. Besides, husband and wife have the obligation to ensure conditions for meeting their family’s essential needs, when the performance of property rights and obligations of husband and wife infringes upon lawful rights and interests of the wife, husband, their family or other persons, compensation shall be paid.
Property of husband and wife is divided into two groups: common property and separate property.
Common property of husband and wife
Common property of husband and wife includes property created by a spouse, incomes generated from labor, production and business activities, yields and profits arising from separate property and other lawful incomes in the marriage period; except for the case of division of common property during the marriage period; property jointly inherited by or given to both, and other property agreed upon by husband and wife as common property. The land use rights obtained by a spouse after marriage shall be common property of husband and wife, unless they are separately inherited by, or given to a spouse or are obtained through transactions made with separate property.
Common property of husband and wife shall be under integrated common ownership. When there is no ground to prove that a property in dispute between husband and wife is his/her separate property, such property shall be regarded as common property.
Separate property of husband and wife
Separate property of a spouse includes property owned by this person before marriage; property inherited by or given separately to him/her during the marriage period; property divided to him/her under the Law; property to meet his/her essential needs and other property under his/her ownership as prescribed by law.
Property created from separate property of a husband or wife is also property of his/ her own. In addition, the separate property of husband and wife also has yields and profits arising from separate property during the marriage period.
After marriage, husband and wife can merger their separate property into the common property according to the agreement of husband and wife. For property merged into common property whose transactions are required by law to be under a certain form, the merger agreement must ensure that form. Unless otherwise agreed by husband and wife or prescribed by law, obligations related to separate property already merged into common property shall be performed with common property.
For a married couple that selects the agreed property regime, this agreement shall be made in writing before their marriage and be notarized or certified. The agreed matrimonial property regime shall be established on the date of marriage registration. The agreement on separate and common property in marriage is a progressive regulation that many countries around the world have applied.
About ANT Lawyers, a Law Firm in Vietnam
We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi, and Danang, and will help customers in doing business in Vietnam.
How ANT Lawyers Could Help Your Business?
You could learn more about ANT Lawyers Divorce Dispute or contact our M&A Law Firm in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529.