Divorce in Germany: Division of Assets
Divorce in Germany: Division of AssetsUpdated on Friday 26th February 2016
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Persons living in Germany (national citizens or foreigners) who are interested in getting a divorce here should be familiar with the local legislation in this sense, as it prescribes the conditions in which the divorce can be granted, the way in which the assets of the couple will be divided or the way in which the custody of the children will be established. If you need to find out more on the division of assets following a divorce, our German lawyers can provide you with an in-depth presentation on the local legislation.
Getting a divorce in Germany
According to the German legislation, a couple can file for divorce in two situations:
• the parties mutually agree on the divorce and in this case they are required to make the proof of the fact that they have been separated for at least one year;
• only one party agrees to the divorce; in such case, the parties are required to demonstrate that the separation happened at least three years ago (compared to the filing date).
At the same time, it is important to know if the parties are both living in Germany; if so, the divorce can be granted by a German court. If one of the parties lives abroad, the divorce can still be concluded in Germany. A divorce can also be granted in Germany if neither party lives in here, but only in the situation in which one of the spouses has a German nationality; our team of lawyers can provide you with further information on this matter.
Division of assets for a divorce in Germany
One important aspect of every divorce relates to the division of assets. According to the German legislation, spouses filing for divorce will separate their common household assets, in the sense that each partner can keep the assets he or she owns.
The expensive objects acquired by both partners during the marriage are jointly owned. At the dissolution of marriage, the spouses will have to sell the objects and share the value of the sale. Another procedure is that one of the partners transfers his or her ownership rights to the other partner, who will offer a sum of money for that specific asset to the partner who has renounced his rights.
If you need further information on the division of assets in case of a divorce, please contact our team of lawyers, who can provide you with assistance and legal representation.