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How to divide property when cohabiting

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How to divide property when cohabiting


        

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  • 2024-06-21 11:01:47

    The first step is to count and estimate all properties. First, determine which are private property and which are common property. Then the value of the joint property is estimated and approved by both parties.
    The second step is to confirm the property rights of each property, that is, to find out who each property should belong to. In order to live together, and after starting to live together, both parties will jointly purchase or own some property. The most common ones are furniture, household appliances, real estate, automobiles, bank deposits, stocks, futures, bonds, artworks, antiques, precious pets and flowers. When jointly purchasing these properties, if the two parties did not make any agreement at that time, in theory, the property rights should be confirmed in this way: in whose name the property rights are registered and settled, the property rights will belong to whom (such as real estate, cars, bank deposits, works of art, antiques, etc.). If registration is not required, in principle, whoever purchases, uses, takes care of and keeps it will belong to whom. If both parties jointly purchase, use, take care of, and keep the property, which is inseparable (such as household appliances, furniture, pets, etc.), it should be decided through consultation that one party should obtain the property completely, and the other party should obtain corresponding value compensation (which can be cash, or creditor's rights, equity, options, ownership of other property, physical objects, etc.). If the above principles are not applicable, it shall be settled by both parties through negotiation.
    The third step is to divide the property reasonably. If the state reflected by the property right is not reasonable or true, both parties shall make reasonable adjustment and division of the property right according to the actual situation.
    In fact, the best way to resolve disputes is to avoid disputes.

    Wu***

    2024-06-21 11:01:47

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