Section 112 Women’s Charter Singapore
If you are searching for information on division of matrimonial assets in Singapore, you should have a look at Section 112 Women’s Charter Singapore.
What does Section 112 Women’s Charter Singapore say?
Under Section 112 Women’s Charter Singapore, the Courts have the power to order the division of matrimonial assets and in doing so, the Courts shall consider:
- The contributions (direct financial or indirect) made by each party;
- The needs of children;
- Debts incurred by either party for the benefit of the other party or the child of the marriage;
- Any agreements between parties on division of assets;
- Any support given by one party to the other for the benefit of his/ her career; and
- Any exclusive rent free occupation of the matrimonial home by one party.
Many of my clients are concerned if their assets will be divided by the Courts. In general matrimonial assets can be divided by the Courts. How are matrimonial assets defined under Section 112 Women’s Charter Singapore?
Matrimonial assets include assets:
- Acquired during the marriage; or
- Acquired before the marriage
- But ordinarily used or enjoyed by both parties or at least one of the children for shelter, transportation, household, education and recreation purposes; or
- Substantially improved during the marriage by the other party or both parties.
However, matrimonial assets do not include “gifts” or “inheritance” to one party, provided that the “gifts” and “inheritance” have not been substantially improved by the other party.
A common misunderstanding is that only the husband’s assets will be divided. It should be noted that the Court will not order a division of assets based on gender.
Recently, a Seoul Court order Samsung Group heiress Lee Boo Jin (who is worth US$2 billion) to provide assets worth S$10,4 million to her husband.
See: “Samsung heiress ordered to pay $10.4 million in divorce ruling”, The Straits Times, 20 July 2017
Though South Korean matrimonial laws are likely to be very different from Singapore’s laws, it is possible that a similar outcome may occur in Singapore. This depends on the facts of the case. For instance, if the wife is holding most of the assets, and the husband is a stay-home husband who has contributed greatly to the family and the career of the wife, it is possible that the husband will get to share in the assets held by the wife.
For an analysis of your case, contact us today!