Business assets as matrimonial property from the civil law and shariah perspectives; implication for national family policy
Matrimonial property disputes are one area of law, which is highly litigated before the registrars and judges. Under the Malaysian law, the court shall have power to order the division of any assets acquired by the divorced parties during the marriage including those attained by the sole efforts of...
| Main Authors: | , |
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| Format: | Proceeding Paper |
| Language: | English English |
| Published: |
2011
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/12275/1/2011_-_Business_assets_as_matrimonial_property_from_the_Civil_law_and_shariah_perspectives-_implication_for_national_family_policy.pdf http://irep.iium.edu.my/12275/3/Business_assets_as_matrimonal_property_from_the_civil_law_and_syariah_perspectives.pdf |
| Summary: | Matrimonial property disputes are one area of law, which is highly litigated before the registrars and judges. Under the Malaysian law, the court shall have power to order the division of any assets acquired by the divorced parties during the marriage including those attained by the sole efforts of one part to the marriage. Reference to personal property normally did not raise contentious issue as the court would apply the general rule/ method in dividing or concluding the matrimonial property.
However, when it comes to distribution of business assets or interest in business, particularly those which are under the business's name, many legal issue may arise, such as rights or entitlement of the ex-spouse to claim, proportion and division of the assets as a matrimonial property, locus standi of the ex-spouse to take legal action and rights to future interest/benefits of the business assets/profits.
This paper intends to look into approaches of both the civil and Shariah courts in determining the status of business assets/interest as a matrimonial property relating to business assets/interest. Findings of this research shall be useful in formulating the national policy on distribution of business assets as matrimonial property. Research methodolgy which is adopted is mainly doctrinal and case law analysis. |
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