Article on marital property
Welcome to our article on marital property in Spain. In this text, we will address the concept of community property, the differences between this regime and the separation of property regime, related legislation and other relevant aspects. If you are looking for information about how community property works in our country, you have come to the right place.
What are marital assets?
Community assets are those that are acquired during marriage or civil union, and that belong to both spouses equally. This economic regime is based on the idea that the efforts and resources of both members of the couple contribute to the growth and development of the common heritage.
It is important to note that not all property acquired during the marriage is considered marital. There are certain exceptions, such as assets acquired by inheritance or donation, the private assets of each spouse before marriage, and those assets that are acquired with money or private assets.
What are the differences between the community property regime and the separation of property regime?
The community property regime and the separation of property regime are two legal options that spouses can choose when getting married. The main difference between the two lies in the way in which assets are distributed in the event of divorce or death of one of the spouses.
In the community property regime, assets acquired during the marriage are considered the common property of both spouses, and are distributed equally in the event of divorce or death. On the other hand, in the separation of property regime, each spouse maintains ownership of the assets that he or she acquires during the marriage, and these are not distributed in the event of separation or death.
Spanish legislation on marital assets
In Spain, the legislation that regulates marital property is found in the Civil Code. Article 1346 establishes that marital property is divided in half between the spouses in the event of divorce or death. In addition, article 1347 defines what assets are not considered marital, such as those mentioned above.
It is important to keep in mind that, in some autonomous communities, there are specific laws that can modify or complement state civil legislation. Therefore, it is advisable to consult the current regulations in each particular case.
Separation of assets or community property regime?
The choice between the separation of assets and the community property regime is a personal decision that must be made by the spouses before getting married. Both regimes have their advantages and disadvantages, and the choice will depend on the circumstances and preferences of each couple.
If spouses wish to maintain their financial independence and protect their private assets, property separation may be the most appropriate option. On the other hand, if you wish to share the assets acquired during the marriage and have greater financial security, the community property regime may be the best choice.
The assets of the community property
The assets of the community property are made up of all the assets and rights that belong to both spouses in community property. This includes real estate, bank accounts, investments, vehicles, and any other types of assets acquired during the marriage.
It is important to note that, in the event of divorce or death, these assets are distributed equally between the spouses. However, it is possible to establish prior agreements or modify the distribution of assets through marital agreements or regulatory agreements.
Crimes of the spouse in the community of property
In a community property, spouses have the obligation to act in good faith and for the benefit of the community. Any act that harms the interests of the community property can be considered a crime on the part of the spouse.
Some examples of crimes in the community of property are the concealment of assets, the fraudulent disposition of the same, or any action that aims to economically harm the community of property. These crimes can have legal consequences and lead to claims by the injured spouse.
Private assets in a community property
In a community property, private assets are those that belong exclusively to one of the spouses and are not part of the common property. These assets can be those acquired before marriage, by inheritance or donation, or those that are acquired with money or private assets.
It is important to keep in mind that, although private assets are not part of the community property, it is possible that profits or benefits may be generated from them during the marriage. In this case, said profits will be considered marital and will be distributed equally in the event of divorce or death.
FAQs
1. What happens if you do not choose an economic regime when you get married?
If the spouses do not choose an economic regime upon marriage, the community property regime will automatically apply. This means that assets acquired during the marriage will be considered community property and will be shared equally in the event of divorce or death.
2. Is it possible to change the economic regime during marriage?
Yes, it is possible to change the property regime during the marriage through a legal process called modification of the marital property regime. However, this process requires the consent of both spouses and must be approved by a judge. Furthermore, it is important to keep in mind that this modification may have tax and legal implications, so it is recommended to obtain appropriate advice before making any changes.
Conclusion
In short, community property is property that is acquired during the marriage and belongs to both spouses equally. Spanish law establishes that these assets are distributed equally in the event of divorce or death. However, there are exceptions and differences between the community property regime and the separation of property regime, so it is important to know the options and make an informed decision before getting married.
We hope that this article has been useful to resolve your doubts about marital property in Spain. If you have any additional questions, please do not hesitate to contact us. Until next time!
