PRINCIPLES FOR DISTRIBUTION ASSETS WHEN DIVORCE?

QUESTION:

Principle of division of property upon divorce?

Reply to:

According to the Law on Marriage and Family Socialist Republic of Vietnam dated 06.09.2000 (hereinafter referred to as the Law on Marriage and Family, 2000);

Pursuant to Article 95 of the Law on Marriage and Family in 2000: In the event of a divorce, the spouse when the division of property upon divorce according to the following principles:

1. The division of property upon divorce because the parties to the agreement; if no agreement is reached, request the Court to settle. Private property of any party is owned by that party.

2. The division of common property are resolved according to the following principles:

a) The common property of the spouses, in principle, be divided, but consider the circumstances of each party, state assets, the contribution of each party to the creation, maintenance and development of this property . Labour husband and wife in the family is considered as labor income;

b) To protect the rights and legitimate interests of the wife, minor children or adult with a disability, loss of capacity for civil acts, no working capacity and no property to support themselves;

c) To protect the legitimate interests of each party in the production, sales and employment conditions to the parties continued to labor income;

d) The common property of the spouses is divided in kind or in value; party receives in-kind assets with a value greater than its parts have been awarded, they must pay the other party for the value difference.

3. The payment of general obligations of the property of husband and wife, husband and agreements; if no agreement is reached, request the Court to resolve.