Contractual penalty and default interest in the agreement on the settlement of joint property of spouses (BSM)

Yes, you and your wife can agree on a contractual penalty in the agreement on the settlement of joint property of spouses for failure to fulfill the agreed obligations. The contractual penalty serves as security for the obligation and applies when a contractual duty is breached. This possibility was confirmed by the Supreme Court of the Slovak Republic (judgment file no. 1 Cdo 98/2004 dated 01.03.2008), which stated that a contractual penalty may be agreed upon in such an agreement according to § 544 of the Civil Code.

On the other hand, interest on late payment cannot be imposed by the court together with the settlement of shares, because, according to the Supreme Court’s decision (file no. 5 Cdo 117/99), there is no basis for the accrual of interest on late payment in this context.