Asset distribution after divorce
4 years ago
Good afternoon lawer One of our friend's husband is not looking after her and her children. So, she decided to apply for divorce. If divorce is accepted, how the assets are distributed?
Shreyash Mohta
Responded 4 years ago
A.The division of assets [if the need be] depends upon how you take divorce.
1. If its is a mutual consent divorce - then such distribution shall be done according to the "MOU"
2. if it is a contested divorce - then such distribution shall be done by the court.
The wife can claim maintenance and alimony.
According to the SC rule the alimony and maintenance should not exceed 25% of the husbands salary. Therefore this quantum can range from 1% to 25% when the court decides or it can be settled mutually between the parties by way of a "MOU"
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1. If its is a mutual consent divorce - then such distribution shall be done according to the "MOU"
2. if it is a contested divorce - then such distribution shall be done by the court.
The wife can claim maintenance and alimony.
According to the SC rule the alimony and maintenance should not exceed 25% of the husbands salary. Therefore this quantum can range from 1% to 25% when the court decides or it can be settled mutually between the parties by way of a "MOU"
Thanks
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A.Dear Sir,
Wife has not share but can claim alimony as follows:
HOW TO CALCULATE ALIMONY
Dear Madam,
My answers as follows.
1)what is the max alimony I can claim from him?
Ans: The quantum of maintence must be based of SC judgment which says 25% of salary must be maintenance. Thus it must be calculated as follows
Salary Rs.2 lakhs per month
25% comes to Rs.50,000 multiplied by 12 Months = Rs.6 lakhs per year.
If you live for another 20 years it comes to Rs.6 lakhs multiplied by 20 = Rs. 1crore 20 lakhs.
You get total compensation of Rs.1 Crore Rs.20 lakhs.
2)can I ask for a property?
Ans: You have no right over property but its notional income may be added to the salary .
Wife has not share but can claim alimony as follows:
HOW TO CALCULATE ALIMONY
Dear Madam,
My answers as follows.
1)what is the max alimony I can claim from him?
Ans: The quantum of maintence must be based of SC judgment which says 25% of salary must be maintenance. Thus it must be calculated as follows
Salary Rs.2 lakhs per month
25% comes to Rs.50,000 multiplied by 12 Months = Rs.6 lakhs per year.
If you live for another 20 years it comes to Rs.6 lakhs multiplied by 20 = Rs. 1crore 20 lakhs.
You get total compensation of Rs.1 Crore Rs.20 lakhs.
2)can I ask for a property?
Ans: You have no right over property but its notional income may be added to the salary .
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Anonymous
Replied 4 years ago
But, the house they owned is on the names of both the couple.
Is it possible if she wants to sell the property they own after getting divorce?
Suneel Moudgil
Responded 4 years ago
A.no specific rules for distribution of assets,
“amount of MAINTENANCE/ALIMONY depends on various factors such as Living Standard, Financial Status, Properties held, assets, responsibilities, custody of children, expenses, etc, therefore, without going through deeply with facts its really unfair to tell a near to exact amount. a detailed personal discussion will enable me to answer this promptly"
“amount of MAINTENANCE/ALIMONY depends on various factors such as Living Standard, Financial Status, Properties held, assets, responsibilities, custody of children, expenses, etc, therefore, without going through deeply with facts its really unfair to tell a near to exact amount. a detailed personal discussion will enable me to answer this promptly"
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