A securities account is usually in one spouse's name, but the money used to buy the shares may well belong to both. Nobody notices while things go smoothly; on divorce, after a margin call, or when one spouse dies, the question "whose portfolio is this?" becomes very concrete. This article explains the current rules in Vietnam and what to do early to avoid a dispute.
Legal framework
The property regime of spouses is governed by the Law on Marriage and Family 2014 (Law No. 52/2014/QH13) and the Civil Code 2015. Opening accounts, trading, depositing and transferring securities are governed by the Law on Securities 2019 (Law No. 54/2019/QH14, as amended) and its implementing regulations. The two regimes look at the same asset from different angles: securities law cares about who holds the account; family law cares about who really owns the asset.
Are securities bought during the marriage joint or separate property?
Under Article 33 of the Law on Marriage and Family, assets created by the spouses and income from work, production and business during the marriage are joint property. Shares, fund certificates and bonds bought with salary or business profits during the marriage are therefore, in principle, joint property — even if the account is in one spouse's name only.
Securities are separate property (Article 43) if they were owned before the marriage, inherited or received as a gift by one spouse alone, allocated to one spouse in a division during the marriage, or bought with funds that were themselves separate property. The burden of proof lies with the spouse claiming separate ownership: if it cannot be proven, disputed property is presumed to be joint property (Article 33(3)).
A detail that is often missed: income and yields arising from separate property during the marriage are joint property (Article 33(1)), unless the spouses have divided them or agreed a different property regime. The shares may be separate property, but cash dividends received during the marriage are joint — which directly affects the calculation on divorce.
Can the account holder trade alone?
As far as third parties are concerned, yes. Article 32 of the Law on Marriage and Family provides that, in transactions with a bona fide third party, the spouse in whose name a securities account is held is deemed entitled to enter into and perform transactions relating to that asset. The broker does not need the other spouse's consent to execute an order.
Between the spouses, it is different. Article 35 requires a written agreement of both spouses to dispose of joint property that is real estate, movable property subject to ownership registration, or property that is the family's main source of income — a portfolio that supports the household may fall into the last category. If the spouses agree that one of them will use joint property in business, that spouse may carry out the related transactions alone (Article 36). The other spouse may still hold the account holder liable for deliberately dissipating joint property, but usually cannot unwind trades matched with other investors on the exchange.
Margin debt and losses: joint or separate obligation?
Under Article 37, obligations arising from the possession, use or disposal of joint property, and from transactions agreed by both spouses, are joint obligations. A margin loan used to invest the joint portfolio, or taken with both spouses' agreement, may therefore be a joint obligation. Debt arising from one spouse investing separate property on their own initiative, or for personal needs, is a separate obligation (Article 45). In a dispute, the source of funds and whether the other spouse knew and agreed are the decisive points.
Legal tools to make ownership clear
- A pre-marital property agreement (Articles 47–50): must be made in writing and notarised or certified before the marriage; it can specify which investments are separate and who owns the dividends.
- Division of joint property during the marriage (Articles 38–40): the spouses agree in writing to divide part or all of the portfolio; the allocated part and the income from it become separate property. A division is void if it aims to evade obligations to creditors (Article 42).
- Evidence of separate property: when inherited money or pre-marital savings are used to buy securities, keep records of the money trail (bank statements, gift contracts, inheritance declarations) and ideally a written acknowledgement from the other spouse.
On divorce or death
On divorce, joint property is in principle divided equally, taking into account each spouse's circumstances, contribution, fault and the need to protect legitimate business interests (Article 59). The court may divide securities in kind (certain tickers to each spouse) or award them to one spouse with a payment of value to the other; value is usually determined at market price at the time of the decision.
Transfers of deposited securities under a court judgment or by inheritance are carried out through the broker and the Vietnam Securities Depository and Clearing Corporation (VSDC) under the procedure for transfers outside the trading system. For a private agreement between spouses, check with the broker first whether the case qualifies for an off-exchange transfer or must go through a trade on the exchange.
When one spouse dies, their share of the joint property (usually half of the joint portfolio) becomes part of the estate; the surviving account holder is not automatically entitled to the whole.
Documents to prepare
- Account statements, balance confirmations, trading history and cash deposit and withdrawal history;
- The marriage certificate; any marital property agreement or division agreement;
- Evidence of the source of funds: bank statements, gift contracts, inheritance documents;
- Margin loan agreements and forced-sale notices (if debt is in dispute).
Documents from abroad must be legalised, or since 11 September 2026 carry an apostille where the issuing country applies the Apostille Convention with Vietnam, and be translated into Vietnamese with a notarised or certified translation.
Practical advice
Decide your objective first: recording certain securities as separate property, or dividing a joint portfolio. Avoid mixing separate and joint money in the same account — once mixed, proving separate ownership becomes almost impossible. For a substantial portfolio, or where the spouses disagree, speak to a family law practitioner before signing anything.
Quick Q&A
Are shares bought by one spouse during the marriage joint property?
In principle yes, even if the account is in one spouse's name, unless there is a marital property agreement or proof that the purchase money was separate property (for example an inheritance or a gift to that spouse alone).
Who owns dividends on shares that are separate property?
Income and yields from separate property arising during the marriage are joint property under Article 33 of the Law on Marriage and Family 2014, unless the spouses have validly agreed otherwise.
Can the account holder sell shares without asking the other spouse?
Vis-à-vis the broker and bona fide buyers, yes (Article 32). Between the spouses, disposing of joint property that is the family's main source of income requires both spouses' agreement (Article 35), and a spouse who dissipates joint property may be liable to the other.
What costs are involved?
Typically notarisation of the agreement, trading and transfer fees, related taxes, legal fees if you engage a lawyer, and court fees if the dispute goes to court.
Note: This article summarises rules in force at the time of publication and is for general reference only; it is not a legal opinion on any specific matter. Legislation may be amended — please check the latest text or consult a lawyer before acting.