Liquidation of the Property Regime
Liquidation of the Property Regime; The property regime refers to the rules that will be applied during the liquidation of spouses’ assets after the end of the marital union. Generally, how the assets will be shared between spouses comes up after the divorce is finalized, but it is also very important how the protection requests for assets are handled within the marriage, how the management of assets will be carried out, and which rules will apply in case of a possible separation of property. The property regime can end with the termination of the marital union, as well as with the death of one of the spouses, choosing another property regime, or deciding to separate property. The property liquidation case is a frequently encountered case that contains many details by its nature. The Liquidation of Property Regime Case must be conducted with a lawyer who is an expert in the field.
Spouses have the opportunity to choose the property regime they want to be applied to them within the marital union as they wish. In practice, the property regime contract, also known as a “marriage contract”, is most commonly encountered. When spouses do not specifically choose the property regime to be applied to them, the legal property regime that will be applied by law is the regime of participation in acquired property.
Property Division Case in Divorce
The liquidation of property regime case is not filed together with the divorce case. The property liquidation case is heard after the divorce decision becomes final. The property division case must be filed within ten years after the divorce and this period should not be exceeded. The case cannot be filed after this period. If one of the spouses has claims regarding the property as a result of the divorce, they should file a property regime liquidation case and assert their claims in this direction. The court does not conduct an examination on this matter on its own, so spouses need to request legal protection for their property through a lawsuit. In practice, actions of spouses to hide assets from each other during the divorce process are frequently encountered, and it is very important for people who do not want to experience loss of rights in property division to get legal support from an expert divorce lawyer. Gürbüz Law + Partners provides the most effective legal support to its clients with expert divorce lawyers in its family law department. When spouses do not choose one of the property regimes stipulated by law, the regime of participation in acquired property will be applied by law in terms of property management. In cases where the marital union ends through a divorce case, the acquired property between the spouses is shared equally. Spouses cannot claim personal property.
Legal Property Regime
Participation in Acquired Property
The regime of participation in acquired property is where one spouse becomes a joint owner of the property acquired by the other spouse from the moment the marital union is established. Property acquired before the marital union is not included in the division. The regime of participation in acquired property covers personal property and acquired property.
Personal Property
During property division, each spouse first reclaims their personal property. Personal property is not included in the property division. Property considered personal by law includes:
- Items used personally by one of the spouses.
- Property belonging to one of the spouses before the marital union or acquired later through inheritance or gratuitous acquisition
- Claims for moral damages of one of the spouses
- Property replacing personal property is considered personal property.
Acquired Property
Acquired property is considered to be the assets that each spouse has obtained by providing compensation. Property specifically considered as acquired by law includes:
Acquisitions in return for the work of each spouse
- Payments made by Social Security, aid institutions, organizations or funds and similar entities
- Compensation paid due to loss of working capacity based on contract violation or tort
- Income derived from personal property
- Values replacing acquired property.
In the liquidation of the property regime, it is very important to properly distinguish between the personal property and acquired property of the spouses. The process must be conducted with an expert divorce lawyer on points such as which property can be claimed and what the sharing ratio will be.
