A Divorce is a legal way of dissolution or end of the marriage/ marital relationship through the Court or any other legal body. This can cause a much stressful situation to both Husband and the Wife both emotionally and mentally. There are so many legal matters which are linked to it and add more stress to it. One of the significant point is the settlement of the property that how much property would be possessed by both of them.
As per some of the best advocates in Delhi, if the Divorce is mutual, the settlement of the property would be according to the ownership and the contribution of that couple in the property if that would be proved by any financial statement or valid proof.
The property can be majorly classified into two types:
And the settlement of those properties after divorce will be as per the type and the contribution of the partner.
The Property right of the wife in case of the Movable Property :
The movable properties contain two types of properties, first is Stri-dhan, and the other is Investment/insurance. Stri-dhan is all those things including cash, jewelry, gifts, cards, etc. which were given to the wife at the marriage and the ownership of those will be retained by the wife only and if the husband had some contribution in any of those he may claim the ownership equal to the contribution made by him. On the other hand, the wife wouldn’t have any right on the investment done by his husband or the insurance whose premium was paid in her husband’s name. However, if the marriage is not legally dissolved and they merely separated then after the death of the husband, the wife can claim all his financial assets.
The Property right of the wife in case of the Immovable Property:
The immovable properties are those properties like land, house, etc. which cannot be moved from one place to another and for those properties wife don’t have any legal right to claim the stakes of those properties and the husband is considered as the sole owner of that property. If that property is registered in name of the wife, and the whole payment had been done by the husband then the wife would not be able to claim any stake on the property while if the property in husband’s name and the wife had also contributed on the property, than she can claim the stake on the property by providing financial statements or valid proof as per the amount of contribution by her. If property is registered on the name of both the Husband and Wife, as per today in most of the cases it happened for various benefits as tax relaxation and other financial benefits, than both will be considered the joint owner of the property and the wife will claim the right on that property as per the contribution of her in the property. While on the other hand, if both of them is not legally separated than both have equal shares on the property and wife will have the right to claim the property. If the person has children outside the marriage than those will also have some share of the property.