In Cyprus, one spouse may be entitled to a portion of the property in the event of a separation or divorce.
Two requirements must be satisfied for this to materialize.
- First, one spouse’s property has increased during the course of the marriage.
- Second, this increase has been made possible thanks to the other spouse.
In this situation, the contributing spouse may ask for the portion of the gain that results from his or her own contribution.
The other spouse is presumed to be eligible for a third of the increase under Cyprus Family Law and unless a different contribution is demonstrated, this is the case.
Therefore, the spouse whose assets have appreciated in value will typically want to refute this assumption.
As evidence of contribution, the courts consider a variety of circumstances. Personal guarantees or mortgages made by one of the spouses for the benefit of the other stand out as contributions.
There are a few rules covering the increase of the property that require special attention:
- Increase in property refers to the tangible and intangible assets acquired over time. These can occur at any moment during or even before a marriage, as long as there was a possibility of getting married. Therefore, the other spouse is not entitled to any share of the property acquired before the prospect of marriage.
- It’s important to note that the Courts disregard any property increase brought on by a donation, inheritance, bequest, or gift. Additionally, the outcome of a donation, inheritance, bequest, or gift is not taken into account while dividing the marital estate.
Additionally, unlike other jurisdictions, Cyprus Family Law does not recognise and views prenuptial agreements as void. However, the parties may come to an agreement after the divorce regarding how their property disputes will be resolved.
In Cyprus, alimony, also known as maintenance or spousal support, is a court-ordered payment made by one spouse to the other for their support after a divorce.
The concept of alimony in Cyprus is governed by the provisions of the Family Law, which sets out the legal framework for divorce, maintenance, and other related matters. The main purpose of alimony is to ensure that a financially dependent spouse is able to maintain a standard of living that is similar to the one they enjoyed during the marriage, after a divorce.
The court considers several factors when determining the amount and duration of alimony payments, including:
- The income and financial resources of each spouse
- The standard of living of each spouse during the marriage
- The respective needs of each spouse
- The age and health of each spouse
- The duration of the marriage
- The contributions of each spouse to the marriage (e.g. homemaking, child-rearing)
In some cases, alimony may be a temporary payment to help the financially dependent spouse transition to a new life after the divorce, while in other cases it may be a permanent payment to provide ongoing support. The court may also modify the alimony award if circumstances change, such as a significant change in the financial circumstances of either spouse.