Korean divorce law allows a claim for division of property to any party of divorcing couple. It means even the spouse responsible for the breaking of the marriage even has the right too.
Division of property shall be determined by the parties’ agreement first. If no agreement is made or if it is impossible to reach an agreement, the Family court shall, upon request of the parties, determine the amount and method of division.
One thing which should be noted is that the object of the division is only “property acquired by cooperation of both parties”. That mens, if the property in issue is acquired by only either party’s effort and funds, then it shall not be divided.
Then the problem is how the proportion of division will be. It is impossible to say it uniformly. For example, assuming the parties have the same contribution and same degrees of earning, then it shall go to 50:50. The court considers the parties’ ages, occupations, the reason why they came to a divorce, contribution to the property and so on in deciding the proportion. In certain cases, court ruled “30:70″, “40:60″, “70:30″… It is totally case by case.
May 15, 2009 at 6:46 pm |
This is similar to a large extent in Singapore where I practise. Here the first issue is what is matrimonial assets? The laws here states all property acquired during marriage, imporved during marriage or used during marriage.