If you are thinking about getting married, we can help you to choose your marital property system. It will rule the relationship between the couple and with third parties. Knowing what a prenuptial agreement is and what are the legal options available will help you to protect your interests.
At this point, we will go on to define what types of matrimonial regime our legislation contemplates. After reading this guide you will be able to analyse which one fits the best with your future marriage plans.
Characteristics of the different marital property system
When a marriage is ruled by the system of community property the patrimony of the spouses is unified in one. This means that their properties and rights are joined together. It will affect to:
- The properties that they had before marriage.
- Those acquired during marriage.
- The common burdens for family sustainment and food rights, by equal parts.
It should also be taken into account that:
- This is the predetermined marital property system in Spain unless a different one is agreed.
- All goods not specified as exclusive in the prenuptial agreements (personal property of each spouse), shall be understood to be common property (rights and responsibilities). Except those that the law configures as exclusive by their own nature (inheritances, free donations, belongings, etc.).
- The management and administration of goods is carried out jointly. Thus, both are responsible for its administration. All acts of one of the spouses with respect to property, rights or societies on behalf of the community affects the other.
For example: If one of them goes bankrupt because of not having enough assets to settle the debts that he has contracted, the creditors can demand the payment to the other spouse.
- If the marriage is cancelled or dissolved, the distribution of the goods within the community will be made equally. It is necessary to elaborate an inventory in which all the properties and debts of the community will be recorded.
There is no common patrimony in marriages ruled by an equitable distribution system:
- Each spouse owns the goods they already owned prior to their marriage.
- You are also the sole owner of what you buy once you get married. Except those good registered as a property of both spouses, as is usually the case in the family home.
- The property of each spouse shall correspond to the person who appears as the owner in the registry. Therefore, he is solely responsible for the consequences of his acts on administration, management, enjoyment and free disposition.
- Once dissolved the marriage, only goods that were common are distributed. It is important to consult your lawyer to carry out these procedures and elaborate an inventory of these common goods.
Since each spouse retains ownership of all their property, in case of a possible bankruptcy of the company or society of one of them, the other’s own patrimony would not be affected. This regime is highly recommended in case of an economic risk for one of the two members of the couple. It is even possible to amend the prenuptial agreements after foreseeing possible risks, as long as it is not done in creditor fraud.
According to our Civil code, it consists of the right of each spouse to participate in the earnings obtained by the other during the time of validity of the regime. It is not common, because it is normal to choose one of the previous two, with specific clauses to each situation.
Which matrimonial regime should I choose?
There are a number of reasons to choose one regime or another. You can consider:
- Difference between the wealth and income of the spouses at the time of marriage.
- Existence of patrimonial risk in the profession of one of the spouses, who can generate debts in the other.
- Pre-marriage children who come from previous relationships and have rights to certain properties.
If you do not know which one best suits your future marriage or how to make a regulatory agreement, contact our expert Legalbono lawyers.