What options are there for dividing shared property in the event of a separation?
June 25, 2022 | 50,00 EUR | answered by Oliver Breitwieser
Dear Family Law Attorney,
My name is Xenia Rademacher and I am facing a difficult situation. My partner and I have decided to separate and now the question arises of how we can divide our shared property. During our relationship, we have jointly acquired a property that belongs to both of us. Additionally, we have joint accounts, valuables, and other assets that need to be divided.
Currently, we still live together in the shared property, but the situation is becoming increasingly uncomfortable and we would like to find a solution as soon as possible to complete our separation. I am concerned about how we can fairly and justly divide the property without getting into a dispute or having to go to court.
My question to you is, what options are there for dividing shared property in a separation? Are there legal regulations that must be considered? How can we reach a fair agreement that is satisfactory to both parties and avoids disputes? Are there alternatives to legal proceedings to find a quick and amicable solution?
Thank you in advance for your help and I look forward to your support during this difficult time.
Sincerely,
Xenia Rademacher
Dear Mrs. Rademacher,
Thank you for your inquiry regarding the division of shared property in case of a separation. This situation is indeed often difficult and emotionally challenging, so it is important to find a fair and just solution to avoid further disputes.
In the event of a separation, there are basically two ways to divide shared property: through a mutual agreement between the partners or through a legal dispute. A mutual agreement is often the preferred option, as it is usually faster, more cost-effective, and less stressful than a court proceeding. In this case, the parties can determine how to divide the shared property and formalize an agreement in writing.
However, if no agreement can be reached, the legal regulations of family law may apply. According to § 1568a of the Civil Code (BGB), both partners generally have a claim to a fair share of the assets acquired during the partnership. The principle of equalization of gains is applied, which means that the partner who has acquired more assets during the partnership must compensate the other partner.
To achieve a fair and just division of shared property, it is advisable to consult an experienced family law attorney. They can help you find a mutually acceptable solution that benefits both parties. The attorney can also assist in drafting a written agreement to prevent future disputes.
There are also alternative dispute resolution methods such as mediation, where a neutral third party acts as a mediator to find a solution that is acceptable to both sides. Mediation can help resolve conflicts and reach a mutual agreement without going to court.
I strongly recommend that you seek the advice of a family law attorney promptly to discuss your situation and find a solution that aligns with your interests. I am here to support you during this challenging time.
Best regards,
Oliver Breitwieser
