Division of property shall be determined by what the property rights and obligations that belong to both of the spouses. Division usually occurs during divorce or when both spouses seek division during marriage. Joint property can be divided in three ways: double contract, under the amicable divorce (agreement of the partners), and in the context of the divorce complaint). If you are going through a period of a division of property and you have trouble making the right decision mitch engel law will help you with that. All you have to do is call them.
The purpose of the division of property
When the property is common, there is no question what part of it (percentage) belongs to one spouse. Division of joint property should first be determined, and then approach the allocation of specific things that make the asset.
Sometimes it is possible to accurately determine the thing that belong to each of the spouses. In some cases, this is not possible (usually when it comes to real estate or other things of great value). Then the problem can be solved in two ways: either the propertywill be sold, and the money will be divided according to the percentage share of spouses in the joint property, or the husband and the wife will become co-owners of these things.
Although this may sound like there is no differencebetween the concepts of joint ownership and co-ownership, there actually is: for example, a husband and wife can decide to sell or lease an apartment together only by agreement – if they both agree with that. Also, the money from the sale or rent will be shared. If you become co-owners of the flat, each will be free to dispose of their own part, which means they will now be able to sell theirpart without the consent of the other. Around other proprietary rights (use, maintenance, issue) partners still have to be agree, but will now know exactly which part of the rent belongs to which spouse.
The co-ownership does not have to last forever. It is possible to run a special procedure in which the court should divide the properly equally to both partners.
The division of joint property is sometimes made by mutual agreement
Divorce by mutual agreement is possible only if the spouses agree on all the important issues of divorce. The issue of the division of property is certainly among them.
The court will not go into this if the spouses manage to agree on this. It is important to divide the property and have it legally signed. However, the court can not interfere in an agreement was made under pressure or one of the spouses was forced, if there are no proofs. These things usually do not go without problems because it is a painful process where spouses get separated and should give up on the life they are used to live.