Property Division

Cohabitation involves managing a joint household and accumulating property, which is the understandable material basis for any relationship. The dynamics of such a life often go awry when you decide to break up the relationship and start dividing property for all the emotional charges involved. If it is possible to do this in a good spirit and in agreement with the understanding that there is no point in creating difficulties, that is good. Here are the guidelines that help to do it right.

Division of property between spouses

The best way to secure your rights in advance is to draw up a cohabitation agreement, also known as a financial agreement. In this agreement, it is possible to define in advance what will be considered joint property and what will not be considered as an exception to the law, thus you can ensure the division of property between spouses exactly as you thought about it. This includes your property from before, or property and money that will come to you even afterwards because of your activity or work that began or was carried out during your marriage as well.

Property division in divorce

Timing is added to the way property is divided in a divorce. Naturally, when you get divorced, you want to finish the whole process as quickly as possible to avoid procrastination that could delay and prevent rehabilitation and reconciliation with the new situation. However, property sometimes requires a lengthy process of evaluation, sale of assets, repayment of loans and obligations and various calculations of receiving payments and more. So it is necessary to conduct such a process after examining all the assets and property and determining an orderly outline for distribution in a property division agreement. Of course, all of this is conditioned by the fact that it is a separation and an agreed division that is not accompanied by conflicts and the taking of unilateral measures such as imposing foreclosures or determining other facts on the ground. This is usually referred to by the lawyers who handle it, and it requires sensitivity and familiarity with the procedure that can be conducted without harming the division.

Approval of property division agreement

One of the reasons why divorces are delayed is the fact that any approval of a property division agreement is usually final. This agreement requires the approval and consent of both parties to open it to change its content and this is done only in special circumstances. For this reason, it is desirable to reach such a fundamental agreement in full agreement with its content and to successfully end the entire procedure in order to move on to the next chapter. This is also the reason that the more complex property there is to manage, the longer the divorce proceedings continue until all the issues are examined and a division that is acceptable to all parties is dealt with after negotiations. Even if you managed to draw up a divorce agreement between you and went through all the clauses and you are sure that it is exactly what you want and serves your goals, it is still recommended to submit the agreement for legal advice to make sure that you are fully aware of all your rights and of certain losses that you may incur from such an agreement, if you did not know about it .

Property acquired before marriage

According to law, property accumulated before marriage and also in inheritance is not considered joint property and therefore it is not included in the divorce agreement. This is supposed to protect spouses who did not make a financial and cohabitation agreement before, but in any case it is recommended to make an orderly agreement to ensure this. A situation may happen in which unclear ownership can end up in the divorce court if there was no orderly registration, therefore it is also recommended to arrange any such registration even before then, and not leave it for the future.