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Division of Divorce Property under the New Marriage Law

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Division of Divorce Property under the New Marriage Law


        

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  • 2024-06-22 01:00:56

    The common property of the husband and wife is divided equally according to the Marriage Law. The property belonging to one of the husband and wife according to the Marriage Law is not divided by the other party.
    The husband and wife may agree that the property acquired during the marriage relationship and the premarital property shall belong to their own ownership, joint ownership, or part of their own ownership, part of their joint ownership. Since such an agreement is oral, uncertain and prone to disputes, the law stipulates that the agreement must be in writing.
    The houses jointly owned by husband and wife that are not suitable for split use shall be distributed to one party according to the housing conditions of both parties and the principles of caring for and raising children or the innocent party.
    At the time of divorce, intellectual property rights of one party that has not obtained economic benefits shall be owned by the other party. When dividing the husband and wife's common property, the other party may be given appropriate care according to the specific circumstances.
    If the personal property before marriage is naturally damaged, consumed or lost in the joint life after marriage, and one party requests to use the joint property of the husband and wife for compensation at the time of divorce, it shall not be supported.
    If one party illegally conceals, transfers or refuses to hand over the joint property of the husband and wife, or illegally sells or destroys the property, when dividing the property, the party who conceals, transfers, sells or destroys the property shall be given a small or no share.
    Article 17 of the Marriage Law of the People's Republic of China
    The following property acquired by husband and wife during the period of marriage shall be jointly owned by the husband and wife:
    (1) Wages and bonuses (2) income from production and operation (3) income from intellectual property rights (4) property derived from inheritance or donation, except as provided in Item 3 of Article 18 of this Law (5) other property that should be jointly owned. Husband and wife have equal rights to dispose of jointly owned property.
    Article 18 of the Marriage Law of the People's Republic of China
    Under any of the following circumstances, it shall be the property of the husband and wife:
    (1) Premarital property of one party (II) Medical expenses, living allowance for the disabled and other expenses obtained by one party due to physical injury
    (3) The property specified in the will or gift contract that only belongs to the husband or wife (4) The articles for daily use of one party (5) Other property that should belong to one party.

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