What happens to the shared property in a divorce?
July 26, 2023 | 40,00 EUR | answered by Fred Busse
Dear Family Law Attorney,
I am Robert Lang and I am facing the difficult situation of an upcoming divorce. My wife and I own several properties together as well as other valuable assets such as cars and jewelry. Now I am worried about what will happen to our shared property if we get divorced.
Background information: My wife and I met 10 years ago and got married 5 years ago. During this time, we have jointly acquired several properties that are registered in both of our names. We also bought a car together and share the jewelry we have accumulated over the years.
The current situation is that we both agree to get divorced, as we have realized that our marriage is no longer working. However, I want to ensure that my share of the shared property is fairly divided and that I am not disadvantaged. My concern is that my wife may try to claim more than her fair share.
Therefore, my question to you is: What happens to our shared property in a divorce and how can I ensure that my interests are protected? Are there ways to achieve a fair division of property and how can I legally protect myself?
Thank you in advance for your help and support.
Sincerely,
Robert Lang
Dear Mr. Lang,
Thank you for your trust and your question regarding your upcoming divorce and the division of shared property. This situation is indeed complex and it is important that you protect your interests and ensure a fair division of the property.
In a divorce in Germany, shared assets are generally divided according to the rules of marital property division. This means that generally only assets acquired during the marriage are divided. Assets that existed before the marriage or were acquired through gift or inheritance during the marriage are not subject to division. In your case, where you have acquired properties, cars, and jewelry together, these are considered marital property subject to division.
To achieve a fair division of shared property, it is advisable to first take an inventory of the assets. This includes all properties, vehicles, jewelry, and other valuables acquired during the marriage. It is important to determine the exact value of these assets in order to enable a fair distribution.
Next, you can reach an agreement on the division of property with your wife either jointly or with the assistance of a lawyer. This agreement can be verbal or written, but it is recommended to have a written agreement to avoid misunderstandings and legally secure your interests.
If no agreement can be reached, the family court can decide on the division of shared property as part of the divorce proceedings. Various factors such as the duration of the marriage, the financial situation of both spouses, and their contributions to the acquisition of the assets will be taken into account.
To protect your interests and legally secure yourself, I strongly recommend consulting an experienced family law attorney. They can provide comprehensive advice, represent your rights, and assist you in achieving a fair division of property.
I hope this information is helpful to you and I am available for further questions.
Sincerely,
Fred Busse, Family Law Attorney
