Distribution of Matrimonial Assets following divorce in SpainAll you need to know about property assets when divorcing in Spain
Following our exhaustive Divorce in Spain Overview, we offer this deep insight on one of the toughest issues after marriage end: what needs to be done with matrimonial assets, once common and now probably in dispute? Keep reading…
The Application of Spanish Law
Typically, Spanish law is applied where a foreign national is resident in Spain and married to a Spanish national. Also, a married couple who are foreign nationals and who are habitually resident in Spain, may also request that a Spanish court applies Spanish law to their divorce application. If the divorce is a mutually-agreed ‘fast-track’ divorce then Spanish law, by definition, applies.
Property assets divorce Spain: the rules relating to the distribution of marital assets govern what will happen to the shared matrimonial home, how any shared assets will be split etc.
So, here we shall look at how Spanish courts assess the legal issue of division of matrimonial assets. Specifically we will consider the following matters:
- The different ‘types’ of marriage in Spain
- Division of Assets in ‘Separación de Bienes‘ type arrangement
- Division of Assets in ‘Sociedad de gananciales‘ type arrangement
- What are private assets?
- The matrimonial home
- Division of Assets Process in a Contentious Divorce
Different Economic Relationships in Spain
The first step is to determine under which system of economic relations the marriage has existed.
In Spain, there are two standard economic types or systems of marriage: ‘separación de bienes’ and ‘sociedad de gananciales’.
Unless specifically chosen by way of public document signed in front of a notary, the type of marriage is determined by default and usually depends upon which autonomous community or region the couple are resident once married.