Husband and wife have the right to own separate property during the marriage and put that property into business. However, it should be noted about the income arising from this property.
Legal grounds:
- Law on Marriage and Family 2014.
We get the following questions:
I have a house that is a private property given to me by my parents. Now that I rent it out for extra living, is this money my own or is it shared by both husband and wife?
Husband and wife can have their own property. Usually it is pre-marital property or property inherited separately, given separately.
If the spouses do not have a written agreement on the property regime as agreed, nor do they have a written agreement on division of common property during the marriage period in Vietnam, the yields and profits from separate property shall be settled in accordance with Clause 1, Article 33 of the Law on Marriage and Family 2014 is as follows:
Article 33. Common property of husband and wife
- Common property of husband and wife includes property created by husband and wife, income from labor, production and business activities, yields, profits arising from separate property and other lawful incomes in the marriage period, except for the cases specified in Clause 1, Article 40 of this Law; property that husband and wife inherit jointly or are given jointly as a gift and other property agreed upon by husband and wife is common property.
- The land use right acquired by husband and wife after marriage is the common property of husband and wife, except where the spouses are separately inherited, given separately or acquired through transactions with separate property.
According to the above provisions: yield and profits arising during marriage from separate property will be the common property of husband and wife, thereby:
- Yields are natural products obtained from property;
- Profits is the income earned from the exploitation of the property.
