How to divide property in case of divorce?
Liquidation of the matrimonial regime
If the spouses are married without a marriage contract, we then speak of the legal community regime; in the event of divorce, each of them recovers their own property and the common property (those acquired during the marriage) must be shared between them.
A division requires liquidation: in short, this consists of quantifying the couple’s assets in order to determine the value to be distributed between them.
Under a property separation regime, undivided property (those acquired jointly) must be shared. The liquidation of the matrimonial regime consists, on the one hand, of identifying the ownership of this property and, on the other hand, of determining the share of each spouse in this undivided property. In this context, the notary establishes a joint ownership account which lists, for each member of the couple, the expenses incurred by a single spouse and the income received by only one of them. The purpose of this account is to settle claims between spouses.
Under a universal community regime, common property is shared equally, unless otherwise provided for in the marriage contract. The debts are also divided equally.
Value sharing
Once the amount of assets is known and the share due to each spouse has been determined, a division in value must be made. This stage consists of a global operation which concerns the entire assets of the couple. Schematically, this amounts to dividing the assets into 2 lots, with the spouse who receives a larger share of the assets responsible for compensating the other financially.
How long can the liquidation and division of value last during a divorce?
French law does not provide a strict legal deadline for liquidating and dividing property during a divorce. This means that the time these operations will take depends essentially on the agreement or not between the spouses and the complexity of their assets. This period can vary from a few weeks to several years…
What are the notary fees in the event of community liquidation?
In the event of sharing of property, notary fees during the liquidation of the community are calculated as a percentage of the gross value of the property to be shared.
If the sharing is equal, that is to say that no balance or other financial compensation is paid, the rate of the notary’s emoluments is established as follows:
On the other hand, in the event of a preferential allocation (if one spouse retains real estate and must compensate the other), a balance must be paid. In this context, the rate varies as follows:
The notary may, in addition, charge fees for the services provided (drafting of documents, legal consultation, etc.).
What is the right of partition in the event of divorce?
The sharing right is a tax paid to the Public Treasury when property held in joint ownership is shared. It concerns both spouses in the context of a divorce and PACS partners or cohabitees in the event of separation or even the divisions which occur following an inheritance.
How to calculate the right of sharing during a divorce?
The sharing of movable and immovable property is subject to the sharing right at the rate of 1.10% of the shareable value.
For example, if the shareable value of the assets of a divorcing couple is 400,000 euros, the right of division will amount to 4,400 euros.
How to avoid the right of partition during a divorce?
During divorce proceedings by mutual consent, the spouses may decide to verbally divide their property before initiating the proceedings to avoid paying the division fee. This requires anticipating the sale of the goods and sharing the sale price without drawing up a deed recording this sale.
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