Spanish Matrimonial Economic Regimes
Please note that the information herein is of a general nature and you should not act or refrain from acting on it without professional advice on the specific facts of your case. No liability is accepted by the author or Sykes Anderson Perry Limited in respect of this article. Law is a complex subject and the above is a basic outline only and is intended only as a general guide
A matrimonial economic regime is a set of rules that deal with the property of the spouses during their marriage. These are very important as they may impact if there is a death, divorce or insolvency proceedings of one of the spouses.
There are two main economic regimes in Spain:
Separation of Assets (separación de bienes) the assets held or acquired by each of the spouses before or during the marriage remain their property
Community of assets (sociedad de gananciales) the assets are held jointly by both spouses. On the death or divorce the community of assets the community must be dissolved and each spouse will be allocated 50% share of the asset. Not all the assets are held jointly by the spouses as some of these are excluded such as assets inherited by the spouses
Matrimonial economic regimes apply by default. The default option varies in each region in which the country is divided. The spouses may elect their preferred matrimonial economic regime. These can be modified by the spouses during their marriage.
Alvaro Aznar Azcárate
Solicitor and Spanish Abogado
Sykes Anderson Perry Limited