Among the most important parameters of a marriage dissolution or annulation is the division of assets. That is to say, either party has the right to claim his or her contribution to the increase of the property of the other partner. In this point, it should be underlined that Cyprus jurisdiction applies in case the parties have lived in the Republic of Cyprus for at least three months, regardless of the nationality.
The Cyprus jurisdiction will deal with the division of assets in accordance with the Law Regulating Property Relations of Spouses (Law 232/1991). Section 13 of the Law 232/1991 points out that marriage does not influence the proprietary independence of each spouse. In other words, each partner preserves and obtains his or her own property even after the marriage.
The provisions of the Law 232/1991 underline that once the property of one spouse has been increased during the marriage … Read More