Declaration of Jointly Acquired Asset

Declaration of Jointly Acquired Asset is property jointly acquired by husband and wife during the subsistence of a valid marriage. Both parties must contribute directly or indirectly towards its acquisition.

Declaration of Jointly Acquired Asset

A declaration of a person made during his life time with respect to his property or benefit thereof, to be carried out for the purposes of charity or for any other purposes permissible by Islamic Law, after his death.


 Characteristics of Declaration of Jointly Acquired Asset
  • Immediate effect;
  • To give more portions to husband or wife/ wives;
  • Make it easier for distribution of assets between spouses.


Advantages to the Declaration of Jointly Acquired Asset
  • All parties (husband & wife/wives) can decide and agree on quantum of distribution;
  • Protect the rights of the husband and wife/ wives;
  • Expedite distribution process;
  • Save time and cost;
  • Declaration records agreement between parties.


 Husband and wife can claim Declaration of Jointly Acquired Asset BUT:
  • The legal process is long and tedious;
  • Contributions need to be proven;
  • The allocation is made in accordance with the court’s decision;
  • Dispute;
  • High cost involved.


 Conditions for Declaration of Jointly Acquired Asset
  • Property acquired during a valid marriage;
  • Property acquired not by way of inheritance or Hibah;
  • Property jointly acquired by both parties.

You might also be interested in

Pri-Emas (Golden Age Trust)
Pri-TI (Takaful/Insurance Trust)
Chat with us on
AUSTRALIAN DOLLARAUD3.1960003.0460003.030000
BRUNEI DOLLARBND3.5760003.4220003.411000
CANADIAN DOLLARCAD3.4630003.3430003.326000
SWISS FRANCCHF5.3840005.1560005.138000
EURO EUR5.2660004.9800004.958000
STERLING POUNDGBP6.2110005.9610005.952000
NEW ZEALAND DOLLARNZD2.9400002.7320002.717000
SINGAPORE DOLLARSGD3.5760003.4360003.435000
UNITED STATES DOLLARUSD4.8170004.5720004.555000

2024-07-23 08:34:22