Marital asset division is one of the most complex and stressful stages of the divorce process, often accompanied by acute disputes between spouses. In Georgia, legislation provides for the principle of joint ownership of spouses (community property), which implies that property acquired during the marriage is the common property of both spouses, regardless of whose name it is registered in or who paid the money. However, behind this simple principle lie numerous legal nuances: What counts as individual property? How are business shares divided? What happens to joint debts? These issues require deep legal analysis and the right strategy to ensure you are not left without your rightful share after the divorce.
Asset division is not just about real estate; it includes bank accounts, stocks, intellectual property rights, jewelry, and even future income in certain cases. Without legal assistance, parties often make mistakes: they fail to document the real value of the property, cannot identify hidden assets, or sign unfavorable agreements. Legal.ge allows you to find specialists who will protect your financial interests and ensure a fair distribution of assets.
What Does Marital Asset Division Service Cover?
This service is comprehensive and includes full legal support from negotiations to court enforcement:
- Asset Identification and Audit: Locating all existing assets, including property that the other spouse may have hidden or transferred to someone else's name.
- Separation of Individual and Joint Property: Determining which property was acquired before marriage or received via inheritance/gift (which is not divided) and which is joint property.
- Division of Business and Shares: Valuing company assets and determining the spouse's share, which often requires financial expertise.
- Allocation of Debts and Mortgages: Fair division of loan obligations so that one spouse does not bear the entire financial burden.
- Analysis of Prenuptial Agreement: If a marriage contract exists, monitoring compliance with its terms or challenging it if it contradicts the law.
Common Real-World Scenarios
Property disputes often unfold according to the following scenarios:
The first scenario is "Hidden Income." A spouse who manages a family business or has a high income tries to reduce the value of the property before divorce, transfers assets to relatives, or withdraws money from accounts. The lawyer works to have these transactions declared void.
The second case is a mortgaged apartment. The couple bought an apartment with a mortgage, but upon divorce, they cannot agree: sell the apartment and split the money, or have one keep the apartment and take over the loan. This requires negotiation with the bank and legal formalization.
The third scenario is "The Gift." One spouse claims that the apartment was gifted to them by parents and therefore is not divided, while the other claims the apartment was renovated with common funds, increasing its value. By law, if the value of individual property has significantly increased through joint expenses, it may become joint property.
The fourth situation is dividing a car. Often there is only one car, and its physical division is impossible. The court either determines compensation payment or orders the parties to sell the item and split the proceeds.
Georgian Legal Framework and Regulations
The process of property division is regulated by the Civil Code of Georgia:
- Civil Code of Georgia (Articles 1158-1171): Defines the concept of joint ownership of spouses. According to the Code, property acquired by spouses during marriage constitutes their common property (unless otherwise provided by a marriage contract).
- Civil Procedure Code: Establishes rules for hearing property disputes, the burden of proof, and procedural deadlines (the statute of limitations for dividing property after divorce is 3 years).
- Law on Public Registry: Important for procedures regarding the registration of ownership rights to real estate and placing liens/seizures.
Process and Stages
The process begins with consultation and asset inventory. The lawyer collects information on real and personal property. The next stage is negotiation — lawyers try to draft a settlement agreement, which saves time and costs. If an agreement cannot be reached, a lawsuit is prepared for court. In parallel, a request to seize property is often filed so that the other party does not alienate it before the dispute ends. The court process involves property valuation (expertise) and determination of shares. After the final decision, the enforcement stage begins — changing property registration or forced sale.
Why Legal.ge?
Property disputes require deep knowledge not only of family law but also of civil, corporate, and banking law. On Legal.ge, you will find lawyers with versatile experience in dividing complex assets. The specialists on our platform will help you maximally protect your property and receive what legally belongs to you.
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