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Division of property after divorce

04.13.2017

Divorce signifies not only the end of marriage , but also the end of the matrimonial regime .

It results in the liquidation of the regime and the division of the assets of the separating couple. The liquidation of the spouses' financial assets remains a complex business.

If the couple's situation is very simple (it rarely is!), The liquidation will be. Mandatory whenever there is a property (land, apartment, house), the intervention of the notary will be a valuable aid in all other cases. The law provided its presence because it is the public officer specialist in family law, balance and security guarantor of the contract. It protects bad agreements.

  • What is a matrimonial regime ?

    • The matrimonial regime is the set of legal rules applicable to financial relations between spouses. This set of rules has a great influence on how the assets of each spouse was formed during the marriage.

    • All about the matrimonial regime

  • How does a notaire liquidate a matrimonial regime ?

    • Using information provided by his/her clients, he/she starts by listing their property and debts, if any, which constitutes their assets and liabilities.

    • The notaire then establishes each spouse's rights and obligations over the assets and liabilities.

    • Lastly the notaire tries to reach agreement between the clients over the division of their property and debts.

    • Everything must be studied and calculated so that each spouse can start his/her new life with a clear, well-established situation. There must be absolutely no going back.

  • These liquidation and division operations may be planned before the divorce takes effect

    • This is what happens with the new in divorce by mutual consent without a judge. The spouses' agreement, drawn up by a private deed signed by a lawyer, must imperatively include the liquidation of the matrimonial property regime, if necessary in the authentic form before a notary when the liquidation concerns property subject to land registration (article 229 -3 of the Civil Code).

    • Since February 26, 2016, it is also possible in other procedures. The judge's power- sharing have been expanded in order to expedite the procedure. Now as the introduction of the divorce proceedings, the spouses can apply for the division of their property if they justify continuing disagreements. They must provide either a joint statement of acceptance of a legal sharing out the points of disagreements between them, a project of liquidation of the matrimonial regime and training lots to share up by the notary appointed conciliation.

Namely

Do not hesitate to consult your notaire as soon as you start divorce proceedings. Lastly, do not overlook the inevitable tax consequences of your divorce and the division of your property. Your notaire will carefully calculate the fees and taxes you will have to pay.

See also
29.11.2016
The letter of the notaries of France in the world / November 2016
25.01.2017
French property market report / N°34
congres_notaires_europe_cnue_2017
22.09.2017
4th Congress of the Notaires of Europe
02.10.2017
Conseil du coin : meet a french notaire to a cafe !