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Separation of Property

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When a married couple decides to marry, there may be some doubts regarding the financial part. To do this, an important regime known as separation of assets has been created . It can help them regulate and control their entire finances and their management for as long as the marriage lasts. This is part of what is known as the matrimonial property regime and includes a series of rules in economic matters .

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What is the separation of property?

Separation of property is a regime type economic part of a marriage and whose main objective is to regulate the property possessed by spouses and their correct administration .

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  • What does it consist of
  • Characteristics of the separation of property
  • What is it for
  • Effects edit
  • How to do a property separation
  • How it differs from a marriage agreement
  • What happens to inheritance when there is separation of assets
  • Advantage
  • Disadvantages
  • How much
  • Importance
  • Separation of goods by country
  • Sample model

What does it consist of

The separation of marital property is a type of economic system given in marriage makes it possible for spouses to get to differentiate themselves within the union, so each of them can get to manage with freedom and administer all goods and your rights in a free and safe way.

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Characteristics of the separation of property

Among its main characteristics are the following:

  • The spouses have the ability to keep the assets they had before they were married.
  • Each of the members of the couple will be able to keep their income and their income , which have been earned during the marriage.
  • Both participants have the ability to manage the assets with total freedom.
  • Each spouse also has the obligation to pay the particular debts with their money.
  • The two must help with all the burdens that the marriage produces.
  • Has responsibility for domestic power .
  • It can be started from the moment of marriage or later.

What is it for

This process serves to maintain the assets of both the husband and the wife well differentiated. It is very functional to avoid and reduce the risk that arises when one of the spouses carries out some type of commercial or professional activity that could put the other at risk, so it is an effective way to prevent financial responsibility from falling on the assets and the rights of the couple.

Effects edit

The main effect comes from the separation of property is the ability of the couple to enjoy their own heritage and have all their assets so free and safe . This process also helps to facilitate operations in terms of economic issues that occur during the divorce since, as each of the spouses has their own assets, they should not make a distribution of assets.

How to do a property separation

To be able to carry out a separation of property before the marriage, it is necessary that the marriage agreements be granted in advance before a notary. In this case, it is important to mention that these capitulations are a document that is given at the moment in which a separation of property is needed or wants to be carried out, they are preventive agreements and have a one-year expiration date.

So, taking this into account, the couple should contact a professional who in this case is a lawyer , let him know what is desired and then proceed to contact a notary , where the desire to grant marriage agreements to carry out the separation of assets . The marriage must be carried out within a period of no less than one year and then they must be registered in the Civil Registry, presenting the deed that contains all the capitulations.

If the separation of property is to be done after the marriage then capitulations will also be necessary, the couple must register in the Civil Registry and present the capitulations and later, they must request the dissolution of the matrimonial regime . It is important that this entire process is done hand in hand with professional advice.

How it differs from community property

The regime of community property implies that it must make a distinction between the private assets that spouses have prior to the wedding and should make the decision on them to preserve the autonomy and Dower heritage , which is the heritage It starts after the wedding is celebrated. The separation of assets is the regime in which each of the members that make up the marriage has the ability to preserve their own assets as well as that generated after the wedding .

How it differs from a marriage agreement

Marriage agreements are a type of contract in which the two people who are married or who plan to marry decide what will be the distribution of assets and are used to modify the matrimonial regime . It is where all the rights and obligations of the spouses can be established.

What happens to inheritance when there is separation of assets

In this case, the marriage agreements that have been established previously come to play a very important role . When it comes to the community property regime , the children inherit but so does the spouse who is still alive, who will have rights to 50% of the assets that the deceased had. In the separation of assets , the spouse may inherit assets only by default in the event that there are no living heirs.

In most cases, the survivor has the right to enjoy a usufruct but not the property itself. It is for this reason that drawing up a will is of the utmost importance as the best way to guarantee that the couple has the right to a legacy of what they have built together.

Advantage

There are several advantages that can be obtained thanks to the separation of assets, among them the following are mentioned:

  • The spouses have the ability to keep the properties generated as part of their estate .
  • They may dispose of it freely without the consent of the other being necessary, except in cases of family housing.
  • It facilitates the separation or divorce process since each spouse has the ability to retain ownership of their assets.
  • It makes it easier for inheritances to be distributed among family members.
  • It makes it possible for the spouses to have the ability to acquire property in common .
  • Economic independence is promoted .

Disadvantages

The separation of assets also has some disadvantages that are:

  • It is considered a type of less supportive regime since if in the marriage one of the spouses does not work and stays at home, they will have a significant economic disadvantage.
  • There is no obligation on the part of the spouses for them to be kept informed regarding the economic movements that are carried out.
  • It has a high power of individuality, preventing the spouses from enjoying the assets that the other has.
  • It does not have the principle of solidarity .

How much

The separation of goods has an approximate cost of around 50 and 80 Euros.

Importance

This process is extremely important as it is the means by which the spouses can ensure the security they need during the marriage and also guarantees adequate protection for family assets . It is also a means of precaution taking into account that nowadays divorces are becoming more common and, when the process becomes a battle, it will be easier to resolve conflicts when the separation of assets has been previously established.

Separation of goods by country

Mexico

In the legislation mexicana it is regulated in Article 207 which states that you can give the separate property under the previous capitulations to the marriage or during the following agreement that between the spouses or by a court ruling.

Spain

This is one of the most used regimes in this country and in order for it to be applied, the marriage agreements must first be carried out . This facilitates the divorce proceedings as the assets will already be a separate property.

Argentina

The regime of separation of assets in Argentina is introduced by the Civil and Commercial Code of the Nation . The assets owned by the spouse may not be integrated into the inheritance.

Sample model

In the city of ………………., San José, on …………… day of the month of …………… of the year …………. The C …………………… .. and the C ………………… .. based on the provisions of the articles of the Family Code for the Free and Sovereign State, enter into this agreement to contract marriage, under the REGIME OF SEPARATION OF GOODS according to the following:

CLAUSES:

FIRST . – We state that when we enter into a civil marriage we do so under the SEPARATION OF ASSETS REGIME, and we will abide by all the provisions for compliance.

SECOND . – Of the goods that we have or come to have, whether movable or immovable, will belong to who of the two has acquired it.

THIRD . – The administration of the goods of this Marriage that we will form, will be of each one separately.

FOURTH . – If this marriage were to be dissolved and we had acquired property, if any distribution was necessary, we will be subject to the ruling issued by the corresponding Judge for the case.

FIFTH . – What is not agreed in this agreement will be subject to the written will of both parties; as well as the modifications that they agree to.

THE AGAINST THE AGAINST

…………………… …………………………

Name, signature and fingerprint Name, signature and fingerprint

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