What happens to shared property after a divorce?
July 10, 2024 | 40,00 EUR | answered by Erwin Evers
Dear lawyer,
I am reaching out to you as I find myself in a difficult situation and urgently need legal advice. My name is Alexander Weidmannsdorf and I am currently in the middle of a divorce with my wife. We have common property, including a property and various valuable items that we acquired during our marriage. Now I am very concerned about what will happen to this common property after the divorce.
To the current situation: My wife and I have decided to get a divorce as our marriage is no longer salvageable. We have acquired common property during our marriage, including an apartment, a car, and various pieces of furniture. Now I am wondering how this property will be divided and if I can keep my belongings.
The current state of affairs is that I am very worried about what will happen to our common property. I would like to know if I have a claim to certain items and how the distribution of property is regulated under German divorce law.
My concerns mainly lie in the fear of being left without my belongings after the divorce and that my assets will be unfairly divided. Therefore, I am wondering what options there are to fairly divide the common property and if there is a way to keep certain items.
My question to you as a divorce lawyer is therefore: What happens to our common property after the divorce and how can I protect my assets? Are there ways to keep certain items and how does the division of property work under German law?
I thank you in advance for your support and look forward to your professional advice.
Sincerely,
Alexander Weidmannsdorf
Dear Mr. Weidmannsdorf,
Thank you for your inquiry regarding the division of shared property in the process of your divorce. It is understandable that you are concerned about your assets and want to ensure that the distribution is fair and in accordance with legal regulations.
First and foremost, I want to assure you that German divorce law provides clear guidelines for the division of shared property in case of a divorce. According to § 1361 of the German Civil Code (BGB), assets acquired during the marriage are generally divided equally between the spouses. This means that both you and your wife have a claim to half of the shared assets.
It is important to note that in the division of shared property, financial assets such as real estate, vehicles, and accounts, as well as other items like furniture, jewelry, or art pieces, are taken into consideration. It does not matter whose name the items are registered under, as they were acquired jointly during the marriage.
To protect your assets and ensure a fair and just distribution, I recommend creating a detailed list of all shared assets. This includes not only physical items but also financial investments and debts. Based on this list, an agreement on the division of assets can be reached with your wife.
If no agreement can be reached, the family court can decide on the division of assets as part of the divorce proceedings. The court will consider all relevant factors such as the duration of the marriage, the financial situation of both spouses, and each spouse's contribution to the shared assets.
It is possible to retain certain items from the shared property if both parties agree. In some cases, a compensation payment can be agreed upon to offset the value of certain items.
In conclusion, it is advisable to seek legal advice from an experienced divorce lawyer early on to represent your interests and find a fair solution for the division of shared property.
I hope that this information has been helpful to you and I am available for further questions.
Sincerely,
Erwin Evers, Attorney-at-Law
