Division of Property
It is important to distinguish between separate property and community property. If you have only separate property, a division thereof is not required.
It is important to understand that division of property does not only concern furniture and household effects but all your “values”. You must therefore make a statement of your assets and liabilities for the purpose of considering your financial situation. There are the following three scenarios:
- Your individual shares of the community property are both positive;
- One party’s share is positive, whereas the other party’s share is negative;
- Your individual shares of the community property are both negative.
Both spouses’ shares of the community property are positive
If both your shares are positive, you must put together the sum of both shares and then divide them equally between you. Consequently, if your total shares amount to DKK 400,000, you will each receive DKK 200,000, notwithstanding the original distribution of the property.
Both spouses’ shares of the community property are negative
If both your shares are negative, a division is not required. You will both keep your individual shares of the community property and must pay your own debt.
If one party’s share of the community property is positive, whereas the other one’s share is negative
If only one party’s share of the community property is positive, the negative share will be ignored. This means that only the positive share will be divided, meaning that if a party’s positive share is DKK 200,000, both parties will receive DKK 100,000.
Can I/we make the statement of assets and liabilities and the division of property between us?
It is all right for you to make your own division of property, as long as you are in agreement. In that case, it is important for you to make a written agreement concerning the division of property, to be signed by both of you.
If your community property is complex or of a certain amount, we recommend you to seek legal advice.
We cannot agree on the division of property – what to do now?
If on the other hand, you fail to agree on the division of property, you may request assistance from the Probate Court. Such assistance must be requested separately by each of you.
First and foremost, you must apply for legal separation or divorce with the State Administration, before you can request assistance from the Probate Court to divide the property.
Should you have any questions to the above, please feel free to contact us by telephone +45 7015 1000 or email to: mail@70151000.dk
