Divorce is never easy, especially because it can take your properties away. In Vietnam, there are two options for you to divide your joint property in the event of a divorce.
- Either both parties mutually agree on how the joint properties will be divided. In this case, you must send a request to the Court for the authentication of the agreement. It is the fastest and less expensive way.
- Or, both parties disagree on how the properties should be divided. In such a case, you can resort to the Court to enforce the division of properties under Vietnamese laws. It is not always a 50/50 split, the Court ruling may be based on many factors, such as:
a) Current status of your family;
b) Your respective contribution to the creation, maintaining, and development of the property;
c) Your lawfully rights and interests;
d) Your respective fault in violation of wife/husband rights and obligations (such as adultery); and
Maybe you’re interested in: What do divorce procedures require in Vietnam?
Division of properties does not necessarily mean a physical division. Instead, the Court may award each of you a percentage of the total value of the property. For instance, in a 50/50 split, you can be awarded 70% of the joint property (for instance 70% of the house value) but you must pay your spouse an equivalent of 20% to make up for the difference.
It seems easy but the most difficult part is how to identify which one is a separate property, which one is a joint property and the ratio of contribution. Separate property is a property that existed before marriage; a property that a spouse is inherited or gifted in his/her own name and earnings from that property; etc. Joint property includes all earnings during marriage and everything acquired with those earnings.
The Court procedure for division of property may differ, commonly around 4 to 6 months, or one to two years in some special cases. It is better to consult a marriage lawyer before you proceed with the divorce.
Maybe you’re interested in: How to divorce in the fastest way in Vietnam 2022?
If you are struggling to find a reputable law firm for consulting on divorce procedure, please contact us: P & Associates is a professional law firm established in Vietnam and currently has nearly 100 members working at three offices in Ho Chi Minh City, Hanoi and Da Nang.
P & Associates is also considered to be one of the leading law firms specialising in law on business in Vietnam, which has a number of notable practice fields in the legal market such as Tax Consulting in Vietnam, Labour law consulting in Vietnam, Dispute resolution in Vietnam, Commercial Arbitration in Vietnam, Real Estate law in Vietnam, Banking and Finance in Vietnam, Intellectual Property consulting in Vietnam… We are confident of bringing to you good consulting lawyers able to provide the most effective and utilizing solutions that suit your need.