Notarial division of joint property of spouses after divorce
Today’s article will address the situation of notarizing the division of the joint property of spouses after they obtain a divorce. At the outset, it is undoubtedly important to bear in mind that, as a rule, the joint property of the parties is called the property that arises between the spouses, at the time of marriage. According to Article 31 of the KRO, “Upon marriage, a community of property (statutory community) arises between spouses by operation of law, which includes property acquired during its duration by both spouses or by one of them (common property). Property items not covered by statutory community belong to the personal property of each spouse.”
First of all, let’s start with the fact that the division of joint property between spouses is only possible when the community of property between them ceases. Undoubtedly, the pronouncement of divorce between former spouses is precisely one form of ending their community of property. After a divorce, spouses who have not previously divided their community of property have two options, i.e., first, to divide the community of property by the court or, second, to do so before a notary public. In today’s article we will examine the second option, i.e. making a division of community property before a notary public.
Performing the division of joint property before a notary involves concluding an agreement between the former spouses in the form of a notarial deed. Undoubtedly, such a way of dividing the joint property will not always be possible. This is primarily a situation when the spouses are so conflicted that they are unable to work out an agreement. However, if the former spouses are in agreement on the terms of the division of their joint property, there is no objection to doing it in the form of a notarial deed.
When dividing the joint property before a notary, the parties are required to present the joint assets at their disposal, their value and the manner of their distribution. It is worth mentioning here that the parties can make a physical division of the joint property, i.e. decide which asset will fall to which spouse, as well as transfer ownership of the assets to one of the spouses, while determining the form and amount of repayment to the other spouse.
It should be noted that the whole procedure related to the division of property before a notary is much easier, faster and less costly than judicial division of property. We know from experience that after a divorce, spouses who have reached an agreement on the division of property usually opt for this form, having in mind first of all a much shorter time to settle the matter.
If you have any questions or doubts, as well as if you would like to cooperate with us in conducting a case on division of joint property, we invite you to contact our attorney Katarzyna, who will be happy to answer your questions and help you throughout the procedure.
Phone: +48 502 775 164
Email: k.lewicka@lzw-law.com