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Md.Anwarul Haque Danish (None)     18 April 2012

Marital property in company, divorce share to wife ??

Hello all,

Can any one tell me, as per the new property sharing rules, that have been proposed that wife will get 50% of property bought during marital harmony in event of divorce.

1. What happens when a property is bought in Company Name in the duration of marriage ?? (Wife not Director or Shareholder)

2. What happens if property bought during the marriage is in Trust/Society name ?? (Wife not Trustee or Founder Member)

3. What happens to property Inherited from parents ??

 

Will they also be included in 50% sharing or will it be exempted ??

Please advise.

 

Thanks & regards.

 

 



Learning

 10 Replies

sridhar pasumarthy (ADVOCATE)     18 April 2012

"50% share to wife in the property of husband"

It is only a Bill, not culminated into Act.

So, one can't avail of such benefit until it is enacted by parliament.

Md.Anwarul Haque Danish (None)     18 April 2012

Dear Mr. Sirdhar,

 

Thank you for your response.

 

I am aware that it has still not been enacted. However, when it shall be enacted, what happens in the senerios above,

 

Please advsie.

 

Thanks & regards

SAINATH DEVALLA (LEGAL CONSULTANT)     18 April 2012

Dear Danish,

She will have a right to the tune of 50%,in whatever income you have got or whatever property you brought during the period of your marital life.The bill has to be tabled in the monsoon session of the parliament ,and after approval by both the houses,has to be sent to the President of final approval.It will take a long time.

NOTE: This aqct is applicable only for the divorce cases applied for after the commencement of the act only and not for the pending cases.

ANOTHER NOTE: I feel women will rather wait for filing divorce or 498A or DV act, till the new act comes into force

Shonee Kapoor (Legal Evangelist - TRIPAKSHA)     18 April 2012

The current bill doesnot talk about 50% at all.

 

 

Regards,

 

Shonee Kapoor

harassed.by.498a@gmail.com

Alok Tholiya (self employed)     19 April 2012

It is still not passed by parliament.

BHARATI MITRA (ES)     19 April 2012

Dear Sainath Sir,

your reply gives some relief to my cousin whose wife has filed divorce case in last year after 30 years of marriage just for getting share of whatever husband has little which he requires for his old age since he is retired.

SAINATH DEVALLA (LEGAL CONSULTANT)     19 April 2012

Dear Bharatiji,

Divorce after 30 years of wedlock,its a pity.

Md.Anwarul Haque Danish (None)     19 April 2012

Dear All,

 

I thank you all for praticipating in this discussion.

 

I am aware that it has not been tabled or passed yet and am pretty sure it might face rough waters also as most politicians have property in wife's names.

 

Yet, i want to know if there is a loop hold in this ammendment.

 

If the property bought during marriage is mortgaged, will the wife bear 50% cost of loan amount.

 

If the property bought during marraige is in Company or Society or Trust, will the wife be able to claim on that also.

 

If the property bought during marriage is Litigated (in court for dispute), will teh wife bear cost of fighting the case.

 

The reason I ask is to understand how water tight the ammendment will be.

 

And I'm sure this will help a lot of hard working people save the fruits of their labour.

 

Please advise.

Krish Narayan (Advocate)     19 April 2012

Dont worry about this concept of share...

It is not automatic share of property in the event of divorce. It is the civil court to decide on the basis how much the wife helped husband and contributed during the marital life to purchase the property. 

The parliament tries to put additional burden to courts and increase back log of pending cases and destroy the institution of marriage and faith over marital bond.

I hope this bill in respect of share of property will not come to effect. 

SAINATH DEVALLA (LEGAL CONSULTANT)     20 April 2012

Anwar Saheb,

PAHELE KHANATO PAKNEDO,KHANEKE WAQT DEKENGE ACHI TARAHA PAKA YA NAHI.


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