Friday, September 2, 2011

Guest Post by T.K. Chang: Divorce Law Uproar in China

There has been a huge uproar recently in the Chinese blogosphere and press over a recent court decision on divorce law. The Chinese Supreme Court had decided on August 12 that real estate that is registered in the name of one spouse remains that spouse‚Äôs property after divorce.  The Chinese real estate market has been booming in recent years, and the decision of course immediately caused many Chinese couples to transfer real estate registered in the name of one spouse to joint ownership. But all were shocked to discover that the transfer was slapped with hefty real estate transfer taxes based on the value of property transferred.  In order to placate the raging controversy, the Chinese Tax Bureau announced today that starting Sept. 1, all such transfers of real estate from one spouse to joint ownership would be tax-free.
 
T.K. Chang
Ivy Law Group LLC
(914) 439-6810
tchang@ivylawgrp.com
http://ivylawgrp.com
 
The Ivy Law Group, based in New York and Beijing, provides advice on Chinese law.  T.K. Chang is a graduate of Harvard Law School and has practiced law for 27 years in Beijing, Hong Kong and New York.

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Comments

I've already commented on the fact that I consider this law to be hugely unfair on numerous blogs but am glad to see that so many couples transferred the ownership of properties following its announcement.

Divorce settlements allow people to start a new life following a divorce and they need to be both fair and just as a result.

Posted by: Divorce Blogger | Sep 2, 2011 6:38:13 AM

I have a real problem with the Supreme Court's decision because real estate bought during the marriage should be correctly categorized as 'marital property' regardless of which spouse's name is on the title.

Posted by: Tulsa Divorce Attorneys | Sep 3, 2011 6:55:11 PM

Great article T.K. - thanks for sharing.

Posted by: Oklahoma City Divorce Attorneys | Sep 19, 2011 7:12:07 PM

nice post!

Posted by: online job | Sep 29, 2011 5:38:05 AM

Supreme court's decision to me is a good one. The property will remain with the spouse even after divorce.

Posted by: uk essays | May 30, 2012 4:38:34 AM

Divorce settlements allow people to start a new life following a divorce and they need to be both fair and just as a result.

Posted by: setravieso | Jun 10, 2012 6:35:40 AM

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