What is the subject of property division in divorce proceedings?

Any married couple has probably thought about divorce at least once. Among them, there may be people who go beyond simple thinking and search for related information directly on the Internet. However, in most cases, you only encounter unfamiliar legal terms, and it is difficult to obtain easy explanation and understanding.

What types of property are subject to division? The court's position is that, in principle, property acquired through joint cooperation between the couple during marriage (so-called 'common marital property') is subject to division. Specifically, for example, things that anyone can easily think of, such as deposits, stocks, insurance, cars, and apartments, are included in the basic division targets. Furthermore, items such as cash, expensive jewelry, watches, and furniture accumulated at home may also be subject to division.

One couple may have money to receive from a third party. If a couple is currently living in a rented house, the future contract holder will receive a refund of the rent deposit from the landlord, and the deposit may be included in the division. In addition, severance pay and national pension are also considered subjects of division that are easy to overlook. Even if you cannot receive it right away because there is a long period of time left until receipt, it can be divided.

What about debt? In addition to the positive (+) property mentioned above (the court uses the term 'positive property'), negative (-) property (also using the term 'negative property') is also subject to division. A representative example is a home mortgage loan. Just as the house a couple lives in is subject to division, the debt incurred to buy the house must also be shared by the couple. In this way, it can be said that the property subject to division is very diverse.

Even if you are well aware of what types of property are subject to division, you may encounter difficulties when going through the relevant procedures. This is when you do not know the property your spouse owns. So how can you find out your spouse's assets?

During divorce proceedings, the couple lists their respective assets and submits it to the court. It is difficult for non-lawyers to conceal assets through false information. This is because various documents must be attached to prove that the information stated is true. Based on this list, identify the other party's assets in detail. If you have any doubts or need information, apply for fact-finding to public institutions, banks, etc. Most of the reasons for the increase in divorce lawsuits are because the process of identifying assets is difficult and takes a long time.

However, not all assets found in this way are subject to division. There is a concept called ‘unique property’. Although this is an extreme example, let's say you received an inheritance from your parents the day before you filed for divorce in court. However, if you had to share that inherited property with your spouse, it would feel incredibly unfair.

Likewise, if one of the couples has property that was acquired through inheritance or gift or was held before marriage, it is necessary to assert that it is 'unique property'. Since it is not property acquired through joint cooperation between the couple, it could be argued that it should be excluded from division or that these circumstances should be taken into consideration in the division ratio.

Small Business Team

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