During a divorce, the joint assets must be divided. The manner in which this occurs depends on the matrimonial property regime: community of property or marital conditions.
Community of Property
For marriages entered into before 1 January 2018 with universal community of property, all assets, debts, inheritances, and gifts fall into the community. Upon divorce, this is divided fifty-fifty.
For marriages after 1 January 2018 with limited community of property, only the assets accumulated during the marriage are considered joint. Pre-marital personal assets and received inheritances or gifts remain private.
Marital Conditions
Under marital conditions, the division is determined by the agreements made:
| Type | Provision |
|---|---|
| Cold exclusion | Each retains their own assets |
| Periodic settlement clause | Annually saved income is shared |
| Final settlement clause | Assets are divided upon divorce |
Which Assets Are Divided?
- Home and associated mortgage
- Savings and investments
- Vehicles and valuable possessions
- Household goods
- Business or shareholdings
- Debts and loans
- Pension provisions
Reference Date for Division
The reference date is crucial for determining the assets to be divided and their valuation:
| Element | Reference Date |
|---|---|
| Scope of the community | Date of filing the petition |
| Valuation of assets | Date of actual division |
Valuation
Assets must be valued. This can be done via:
- Mutual consultation (e.g., via market prices)
- An appraisal by an expert
- In case of disagreement: a binding opinion or judgment of the court
What if my partner hides assets?
If there is suspicion of hidden assets, you can initiate an investigation. A lawyer can request data from financial institutions or the Tax Authorities. Hiding assets may result in a larger allocation to the disadvantaged party.How is the home divided?
Often, one partner takes over the home by buying out the other, with the equity being shared. The mortgage must then be transferred, which requires bank approval. If takeover is not possible, the home is sold.Am I responsible for my ex's debts?
In a community of property, both are responsible for joint debts. Upon division, debts are allocated to one partner, but vis-à-vis creditors, you remain jointly liable until the debt is settled or the liability is discharged.Frequently Asked Questions
How are assets divided in a divorce?
Normally fifty-fifty, unless marital conditions stipulate otherwise. Partners can agree to deviate from the standard division.
Which items fall under the division?
All assets and debts within the community, such as the home, savings, vehicles, furnishings, mortgages, and loans.
What happens to the home in a divorce?
One partner can buy out the other, the home can be sold, or it can be agreed that one partner continues to live there.
How are debts divided?
Debts within the community are divided equally. Debts outside the community remain the responsibility of the party who incurred them.
What if we cannot reach agreement on the division?
In that case, the court decides on the division, based on reasonableness and fairness, taking into account each party's contributions.
Summary
In a divorce, joint assets are usually divided equally, unless otherwise agreed or determined by the court.
Key Points
- Standard division is equal
- Deviations possible by agreement
- Buy out or sell the home
- Court intervenes in disputes
For legal support in Westland, you can contact Juridisch Loket Westland. In disputes, the District Court of The Hague (district) can issue a ruling.