After dissolution of marriage by divorce the next step will be liquidation of pecuniary relations. The pecuniary relations between spouses shall be liquidated by agreement or by retaking of personal property.
Liquidation By Agreement
Once the marriage is dissolved the pecuniary relation between spouses shall be liquidated in accordance with the agreement entered by the spouses or the contract of their marriage. In default of a contract of marriage or an agreement, or if these are not valid under the law, the pecuniary relation between spouses shall be liquidated by the following ways
Retaking Of Personal Property
Each spouse has the right to retake his personal property in kind where he show that he is the sole owner there of .If one of them prove that any of his personal property has been alienated and that the price there of has fallen in the common property, he has the right to withdraw there from, before hand money or things of value corresponding to such price. Where both spouses have such right, each of them shall take their respective share from the common property in proportion to their contribution.
Where one of the spouses who has been vested with the power to administer the common property or the Personal property of the other spouse in accordance with the law has performed acts which adversely affect such spouse, or where the spouses who has performed such acts did not have the administration or have been performed in fraud of the right of the spouse making the claim, the court may at the request of the aggrieved spouse, award damage to such spouse.
No claim for indemnity based on the above sentences may be made by reason of acts which have been performed five years before the dissolution of the marriage.
Unless otherwise agreed the court may award indemnity to a spouse who proves that the personal property of the other spouse or of the common property has been enriched to the prejudice of his own personal property
Protection Of Creditors
Where there is a debt incurred by either spouse or conjointly and such debt is confirmed by judicial decision or acknowledged by the spouses such debt shall be paid before partition of property.
Rules Of Partition
Without prejudice to the above sentences and agreements enter into by the spouses, common property shall be divided equally between the spouses. As a rule, partition shall be made in kind in such a way that each spouse receives some property from the common property. Where it is not possible to divide such property equally, the inequality of shares in kind shall be set off by the payment of sums of money. The utmost care shall be taken to give each spouse things which are most useful to him. If there is a certain property which is difficult or impossible to be divided and if the spouses do not agree as to who shall have that property in his share such property shall be sold and the proceeds there of shall be divided between them. If the spouses do not agree on the condition of sale $ if one of them so requires, the sale shall be made by auction.
Debts Of Spouses Due After Dissolution Of The Marriage
If a debt which was to be paid from the common property becomes due after the dissolution of the marriage and after the partition of the priority, each spouses shall be liable in proportion to his share. If the debt concerns one of the spouses only such spouse shall pay it.
If you have an additional question or comment please Contact us.
Any pertinent information about Ethiopian Law, can be available from an Ethiopian Divorce lawyer, Ethiopian Child Support Lawyer, Ethiopian Investment Lawyer, Ethiopian Tax lawyer, Ethiopian Employment Lawyer, Ethiopian Labour Relationships Lawyer, Ethiopian Trade Mark lawyer, Ethiopian Immigration lawyer, Ethiopian Banking Lawyer, Ethiopian Insurance Lawyer, Ethiopian Unfair Competition lawyer, Ethiopian Dispute Resolution lawyer, Ethiopian Bankruptcy Lawyer, Ethiopian Construction Lawyer, Ethiopian Accidents & Injuries Lawyer, Ethiopian Professional Faults Lawyer, Ethiopian Loss And Damage Lawyer.