Matrimonial Property Regimes

Types of matrimonial property regimes

1. Community of Profits: its regulation is found in Art. 1344 et seq. of the Civil Code.
   By means of the community of property, the earnings or profits obtained indistinctly by either of the spouses become common for the spouses, which will be attributed to them in half upon dissolution of the community of property.
   Alongside the community property, there may coexist separate property, which belongs exclusively to one of the spouses.
   Such separate property, which does not form part of the community of property, consists of the property owned by the parties prior to the conclusion of the marriage, which is acquired by donation or by virtue of inheritance.
   However, it should be borne in mind that the income that may be derived from these private assets, for the duration of the marriage, is in the nature of community property (e.g. rental of a house owned by one of the spouses. The property belongs to the spouse to whom it belongs, but the income received corresponds 50% to both spouses).
2. Separation of property: this is regulated in Articles 1435 et seq. of the Civil Code.
   In the separation of property regime, each spouse will own the assets that he/she had at the initial moment of the separation and those that he/she later acquires by any title. Likewise, the administration, enjoyment and free disposal of such assets shall correspond to each spouse.
   In other words, we are dealing with a regime in which the assets will belong exclusively to the spouse who owns them, without it being possible to attribute the yield that could be obtained from them to the other spouse.
   This regime does not mean that everything is individually owned and that nothing can be shared in the marriage, as the couple may decide to share certain assets, such as the ownership of the family home, but in this case we would be dealing with a co-ownership and not with a community property.
   This is the regime that, in the absence of an express agreement between the spouses, applies in Catalonia, the Balearic Islands and the Valencian Community.
3. Profit-sharing regime: this is regulated in Article 1411 et seq. of the Civil Code.
   In the participation regime, each of the spouses acquires the right to participate in the profits obtained by his/her partner during the time that this regime has been in force.
   In this case, each of the spouses administers his/her property during the marriage, and when the relationship is terminated, a community of property is formed in such a way that the profits obtained during the time they were married are compensated.
   In other words, only when the economic regime is terminated is there an adjustment of all accounts between the spouses, by virtue of which the gains of both spouses are shared equally.