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Divorce in Norway: Division of Assets

Divorce in Norway: Division of Assets

Updated on Monday 03rd April 2017

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In Norway divorces must follow the procedures indicated in the Civil Code. Before starting the process, a person should get in contact with a Norwegian lawyer in order to become aware of the rights and obligations that he/she has according to the law. An important issue that is going to be decided in a divorce procedure is the division of assets between the spouses. Our attorneys in Norway are ready to assist you with legal advice in order to support your claims regarding the distribution of property

Disclosing financial assets in Norway 

 
Before a proper division can take place, the law requires the elaboration of a complete assets declaration. This list should include any kind of properties, income or pension of the two spouses. Other financial resources such as life insurances must be included as well in this declaration. The disclosure of the financial assets must be supported by proving documents.
 
The sale of any kind of property during the last year preceding the divorce procedure must be declared as well. The same rule applies to gifts or any kind of property disposal in which one of the spouses has been involved. Debts must also be declared at this point of the procedure.
 
The disclosure of assets is an obligation for both spouses and if one of them refuses to comply, the other has the right to bring the process in court.  
 
Our law firm in Norway can help you with more information on the division of assets in Norway and they can propose legal solutions for receiving your claims during a separation process.

Division of assets in Norway

 
The division of assets during a divorce should not necessarily be decided in court. There are also other legal options which involve less costs and time and that can be utilized for settling the problem much smoothly. Through mediation, for example, the spouses can negotiate the division of their assets and reach an agreement. If this is not the case and the matter cannot be decided by mutual understanding, then the process can continue in court
 
The body of law which contains provisions regarding the court procedure and criteria used for deciding the division of property is the Divorce Act. According to the law, the court must have evidence on several aspects of the spouses’ lifestyle before the divorce: 
 
• the earning of the spouses and their financial prospects for the future;
• life standard before the initiation of the separation procedure;
• the age of the spouses and the amount of time they have been married;
• how has each of them behaved along the marriage;
• what will the spouses need after divorce in terms of accommodation.
 
Don’t hesitate to contact our Norwegian lawyers for legal assistance during a mediation process or for representation in court in a divorce trial.
 

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