Division of assets

A division of assets is a legal process in which two parties divide their joint property. It may take place in connection with divorce, separation, death, or during an ongoing marriage if the parties wish to regulate their finances. The purpose is to clarify ownership and distribute assets fairly in accordance with law or agreement.

To avoid future disputes and uncertainties, it is important to regulate the division of assets through a clear agreement. Such an agreement provides security and ensures that all arrangements are legally binding. In some cases, a written agreement is also necessary to transfer ownership from one party to another.