By Carlos Baos (Lawyer) • 01 December 2022 • 9:35
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In addition to being one of the most crucial aspects of a person’s life, every marriage brings with it a series of financial consequences that are often ignored by the spouses. Today we analyse the matrimonial regimes in Spain in a question-and-answer format, that we hope helps our readers to understand this subject a little better.
What is a matrimonial property regime?
It is the set of rules that regulate the economic relations of the spouses with each other and with other persons.
What is the financial regime applicable to my marriage?
It is difficult to answer this question, as it will depend on the circumstances of each case: nationality of the spouses, place of residence, place where the marriage takes place, whether they have entered into a prenuptial agreement before getting married, etc.
Generally speaking, in Spain, when two people get married without signing a ‘marriage contract’, the applicable regime by default is the System of Joint Property (Sociedad de gananciales).
Also known as pre or post nuptial agreement, (depending on the moment when it is signed: before or after the marriage), it is the document in which the spouses choose the economic regime applicable to their marriage. The requirements for its effectiveness depend on the country. In Spain it is necessary to sign it before a notary and to register it in the Civil Registry.
Joint Property: Property or income acquired by either of the spouses during their marriage will be considered as part of the matrimonial community, in principle, regardless of who acquires it.
Separation of assets: There is a clear separation between the assets and income of the spouses, which are never mixed or confused.
Participation: Combines features of the above-mentioned regimes. While the couple is married, the regimen operates as a separation system, but at the time of divorce, both will have the right to participate in each other’s benefits.
Getting legal advice before and after marriage is key to understand the rights and obligations of each party, in the event of separation or divorce. At White-Baos we are experts on Family and Cohabitation Law. Please do not hesitate to contact us.
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Carlos Baos (Lawyer)
White & Baos.
Tel: +34 966 426 185
E-mail: [email protected]
White & Baos 2022 – All Rights Reserved.
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Lawyer Carlos Baos has been advising on variety of expat-related legal issues for years and weekly column offers free weekly insights.
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