What Is Included In Joint Property

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What Is Included In Joint Property
What Is Included In Joint Property
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Jointly acquired property includes all the property of the spouses, which was received, acquired by either of them or jointly during the marriage. Some exceptions to this rule are provided by family law.

What is included in joint property
What is included in joint property

Jointly acquired property presupposes a legal regime of property of the spouses, which is automatically used in the conclusion of any marriage, if there is no prenuptial agreement. Property, which is considered joint, is defined in article 34 of the Family Code of the Russian Federation. According to the specified norm, such property includes all property that appeared during the period of marriage. For example, all monetary funds received by any spouse as income from labor, business, other activities, material benefits that are not targeted are listed as such property. In addition, any acquired movable, immovable things, bank deposits, shares, shares are recognized as general. The law specifically stipulates that the joint ownership regime does not imply any difference in who exactly made any purchase, contributed money for it.

What is excluded from joint property?

There are some categories of things that are legally excluded from joint ownership. So, property acquired or received before marriage is the sole property of the spouse who acquired it, received it in a different way. If any thing is donated, inherited by one spouse in an active marriage, then it remains exclusively his property, such things are not subject to the regime of joint ownership. Also, things that are intended for individual use, the results of the intellectual activity of a particular spouse are not recognized as common. If a thing for personal use is recognized as a luxury item, jewelry, then it is also a joint property.

Can individual property become jointly acquired?

Family law also provides for the only case in which the individual property of one spouse can be recognized as joint. This is possible when the second spouse, by his labor, significantly increased the value of this property, investments were made in this thing at the expense of the spouses' common funds. Each such situation is individually considered, assessed by the judicial authorities at the stage of division of property. Subsequently, the court decision indicates the recognition of a particular thing as jointly acquired property, and the rationale for such a decision is provided.

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