The property acquired by a Hindu couple during their marriage is considered as joint or marital property and is subject to division upon divorce.
The division of marital property under Hindu law is based on the principles of fairness and equity. While there are no specific provisions for an equal division of property, the court aims to distribute the assets in a manner that is just and equitable, taking into consideration various factors such as:
- Financial status and income of both spouses.
- Contributions made by each spouse, both financial and non-financial, to the acquisition and maintenance of the property.
- Debts and liabilities of the spouses.
- Needs of dependent children, if any.
- Any other relevant factors that the court deems necessary.
The court has discretionary powers to determine the proportion of property to be awarded to each spouse based on these factors. It is important to note that only the assets acquired during the marriage are subject to division, while assets acquired before marriage or through inheritance or gift may be treated as separate property and may not be divided.
It’s crucial to consult with a family law attorney who specializes in Hindu law or family law in your jurisdiction to get precise information and guidance regarding the division of marital property in case of divorce.