5 Key Points to Know About Property Division in Divorce: Money Today Reporter Park Ga-young, Attorney Jang Yoon-jeong

5 Key Points to Know About Property Division in Divorce: Money Today Reporter Park Ga-young, Attorney Jang Yoon-jeong

2024-04-15 20:00:00

Money Today Reporter Park Ga-young, Attorney Jang Yoon-jeong | 2024.04.16 05:00

/Illustration=Jongcheol Lim Design reporter A and his wife B have been married for 11 years. The two worked at the same company until their marriage, but following giving birth, Ms. B left the company and took full responsibility for housework.

Naturally, the financial part of married life fell entirely on Mr. A. The house where this couple lives is an apartment gifted to Mr. A by Mr. A’s parents, and various taxes related to the house were also covered by Mr. A’s income.

Should I share my property with my wife, a housewife?

Meanwhile, Mr. A committed extramarital affairs. Her wife, Mr. B, found out regarding this and asked for her divorce. She then said she also asked for property division of the apartment she was living in.

Mr. A found his wife’s request absurd. This is because the house is a unique asset that was gifted to me by my parents, and I have borne all the maintenance costs of the house myself.

Should unique assets be divided during divorce on the grounds that the spouse is at fault?

The gifted apartment is subject to property division during divorce. However, it has absolutely nothing to do with whether Mr. A is the guilty spouse.

According to our civil law, property that is subject to division is property jointly acquired by a couple during their married life. The principle is that unique property, such as unique property or inherited property acquired before marriage, is not subject to division. However, even if it is a unique property, if the other party has contributed significantly to the maintenance and growth of the property, it is subject to property division.

There are cases, like Mr. and Mrs. A, where only one party has economic power and it appears that the housewife does not contribute to maintaining or increasing assets. In these cases, our court recognizes the value of the housewife’s housework and recognizes property division. Jang Yoon-jeong, a lawyer at Dimension Law Firm, said, “Mr. B is naturally entitled to property division as he has been married for more than 10 years and raised two children.”

I bought the land, but it is in the name of my wife… What if you get divorced?

Mr. A purchased land with the money he saved during his marriage and put it in Mr. B’s name. Ms. A wants this land back from Ms. B, who is requesting her divorce. Is it possible?

Attorney Jang said, “Land purchased during marriage is considered joint property of the couple and is subject to property division in the event of divorce, even if only one of the couples has the financial power or is in one’s name.”

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[저작권자 @머니투데이, 무단전재 및 재배포 금지]

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