How to split the property when divorce in China?
Time:2024-02-14 15:40:06Source:Click:次
Divorce is not merely the dissolution of a marital union; it also involves the division of shared assets. China follows a legal system of joint property ownership for married couples, meaning that unless otherwise agreed upon, property acquired during the marriage is considered jointly owned by both spouses.
1. Scope of Joint Property
According to Article 1062 of the Civil Law of China and Articles 25 to 27 of the Interpretation of the Supreme People's Court, the following shall be considered joint property of the spouses
(1) Wages, bonuses and compensation for services rendered;
(2) income from production, management and investment;
(3) income from intellectual property rights.
(4) Inherited or donated property, except as provided in Article 103(3) of the Civil Law of China;
(5) Other property that should be jointly owned. For example: houses, vehicles and other property purchased with community property during the marriage; income from investments made by one of the parties with personal property; housing subsidies and housing provident funds actually received or should have been received by both men and women; basic old-age pensions and bankruptcy resettlement compensation actually received or should have been received by both men and women; and houses rented by one of the parties before the marriage and purchased with community property after the marriage and houses registered in the name of one of the parties, etc.
2. Property owned solely by a spouse:
(1) the premarital property of either party;
(2) medical, disability, and other expenses received by a party because of a physical injury;
(3) property designated in a will or gift agreement as belonging solely to the husband or wife;
(4) Each party's daily necessities;
(5) Other property that should belong to one party: such as accident insurance, disability compensation, military medical and living allowances.
3. Characteristics of Joint Property of Husband and Wife
(1) The Scope of Joint Property: Joint property pertains exclusively to legally married couples. It does not extend to relationships outside of legal marriage such as unmarried cohabitation or extramarital arrangements. The legal bond of marriage, formalized through marriage registration, is essential for the establishment of joint property, safeguarded by legal provisions.
(2) Formation Time: Joint property originates upon marriage. It encompasses assets acquired during the marriage period, excluding individual assets owned before marriage. However, if mutually agreed upon, pre-marital assets may be included. The marriage duration spans from the date of marriage registration until the death of one spouse or the official divorce date.
(3) Source of Joint Property: Joint property comprises assets acquired by one or both spouses during marriage, including earnings from employment and other legally acquired assets. Exclusions consist of assets designated as individual property by law or by mutual agreement between spouses.
(4) qual Rights and Responsibilities: Both spouses possess equal rights and responsibilities regarding joint property management. Each has the authority to manage these assets, yet significant transactions require mutual consent to prevent infringement upon the other's interests. Unauthorized disposal leading to losses entitles the affected spouse to claim compensation during divorce proceedings.
4 How is the joint property of husband and wife divided in case of divorce?
(1) The principle of common property of husband and wife
Upon divorce, joint property is typically divided equally between the husband and wife, following this principle..
(2) The principle of in favor of the children, the woman and the party not at fault
During property division, the court prioritizes the well-being of the children, the specific needs of the woman, and the rights of the innocent party. Allocation of assets aims to provide appropriate care and support while ensuring fairness to all parties involved.
(3) Principle of Fairness
The court considers various factors including each spouse's contributions during the marriage, their economic circumstances, and overall fairness in property division. This principle ensures a balanced and just distribution of assets between the spouses.
For more information, please contact
David Gao
gaohexin@163.com
