In Vietnam, how is the principle of handling property of husband and wife upon divorce?
Pursuant to Article 59 of the Law on Marriage and Family 2014 stipulates the principles of property settlement of husband and wife upon divorce as follows: 1. In the case of the husband and wife's property regime as prescribed by law, the settlement of property shall be agreed upon by the parties; if no agreement can be reached, at the request of the spouses or husband and wife, the Court shall settle the settlement according to the provisions of Clauses 2, 3, 4 and 5 of this Article and in Articles 60, 61, 62, 63 and 64 of this Law. In case the husband and wife's property regime is agreed upon, the property settlement upon divorce shall be applied according to such agreement; if the agreement is not complete and clear, the corresponding provisions in Clauses 2, 3, 4 and 5 of this Article and Articles 60, 61, 62, 63 and 64 of this Law shall apply to settle the matter. 2. Common property of husband and wife is divided in half, taking into account the following factors: a) Circumstances of the family and of the husband and wife; b) Contribution of husband and wife to the creation, maintenance and development of common property. Labor of husband and wife in the family is considered as income labor; c) Protect the legitimate interests of each party in production, business and profession so that the parties have conditions to continue working to generate income; d) The fault of each party in violating the rights and obligations of husband and wife. 3. The husband and wife's common property shall be divided in kind, if it cannot be divided in kind, it shall be divided according to its value; which party receives a portion of the property in kind with a value greater than its share, must pay the other party the difference. 4. Separate property of a husband and wife is under their ownership, except for cases where separate property has been merged into common property according to the provisions of this Law. In the event of a merger or amalgamation of separate property with common property and the husband and wife have a request for property division, they shall be paid the value of their property's contribution to that property, except for if the spouses have other agreements. 5. Protecting the lawful rights and interests of wives, minor children and adult children who have lost their civil act capacity or are unable to work and have no property to support themselves. 6. The Supreme People's Court shall assume the prime responsibility for, and coordinate with the Supreme People's Procuracy and the Ministry of Justice in, guiding this Article. Best regards!