CONSULTATION ON THE DISTRIBUTION OF JOINT MARITAL ASSETS

Matter in Brief:

Mrs. T is a client who has utilized the consulting services of TAPHALAW. She has presented the attorney that: She and Mr. N are married, having received a Marriage Certificate issued by the People’s Committee of Ward P, District B, Ho Chi Minh City on May 2, 2013. Mrs. T and Mr. N desire to divide a portion of the joint assets acquired during their marriage, specifically: the right to use land and the right to own the house as per Certificate No. 9379; a MERCEDES brand car, a PIAGGIO brand motorcycle; and a substantial sum of money in various bank savings accounts.

Client’s Request:

Mrs. T requests that TAPHALAW provide legal consultancy and propose a plan to effect the division of all the aforementioned assets in her favor. Additionally, Mrs. T seeks consultancy on the procedural steps necessary to implement the proposed plan.

Work Performed by TAPHALAW Attorneys:

1. Consultancy on needs, conditions and division plans

The Client possesses jointly owned marital property and has a desire to enter into an agreement to divide such property. While this is a lawful desire, the specific terms and conditions of such an agreement are subject to various legal requirements contingent upon the nature of the assets involved. These legal stipulations are essential to ensure the enforceability of the agreement, thereby facilitating the completion of the property division process and establishing the legal ownership rights of the respective parties. TAPHALAW’s attorneys have provided the Client with comprehensive counsel regarding all legal requirements that must be adhered to.

2. Procedural Consultancy

TAPHALAW’s attorney advised Mrs. T that she could request a notarized Marital Property Division Agreement at a notary public office. To facilitate the registration of ownership for each asset with the competent state authorities upon a change of ownership and to independently adjust the savings information of each spouse with the bank, TAPHALAW’s attorney recommended that the Client execute separate agreements for each asset.

Consultation Outcome:

Based on the legal consultancy provided by the attorney, Mrs. T and Mr. N have mutually agreed to the proposed solution by TAPHALAW’s attorney. With the clients’ consent, the attorney continues to assist the clients in drafting the agreement, requesting notarization of the agreement, and completing the necessary administrative procedures with the competent state authorities to transfer the ownership of the property to the entitled party as prescribed by law.