Are you comfortable getting married for separate or joint property? – Zocalo newspaper

Mexico City.- One of the most important questions before get married is to make a decision patrimonial regime, i.e. how they want to manage, contribute and participate in the assets acquired during the marriage. Check the difference between common and separate property.

It very often happens that couples who are about to get married have doubts about which mode is better to choose for their marriage. Each of the patrimonial regimes has legal consequences which the contracting parties must take into account with respect to domain, administration and liquidation of assetsso depending on the circumstances of the particular case they will be able to make the best decision.

How to choose a marital economic regime?

The scheme can be chosen before marriage or changed during marriage. In both cases it was done through marriage certificateswhich are provided by a public deed before a notary public.

What should surrenders contain?

According to Article 189 of the Federal Civil Code, they must include:

• A detailed list of the real property, its value and, if applicable, any lien that each party to the contract takes on the company.

• A detailed list of the personal property that each spouse brings to the company.

• A detailed note of the obligations each party has upon entering into a marriage, stating whether the firm is liable for them or only for those entered into during the marriage.

• An express statement whether the conjugal partnership must include all of each spouse’s assets or only a portion of them, and if so, which ones.

• The express declaration whether the conjugal partnership will include all the property of the spouses or only their products.

• The declaration whether the product of each spouse’s labor belongs exclusively to the one who performed it or whether he/she should give a share of this product to the other spouse and in what proportion.

• Declaration of who will be the administrator of the company and his powers.

• Declaration whether the future assets acquired by the spouses during the marriage will belong exclusively to the person who acquires them, or should be divided between them and in what proportion.

• Foundations for the liquidation of society.

separate property

Marriage under a divided property regime establishes that the property of the people who marry remains individual, meaning that everyone stores and manages their assets for the time of the union.

Here is how this mode is classified:

• Absolutely. All assets belong to the respective spouse, they must be declared and listed, this establishes that the other person has no rights, obligations or benefits.

• Partial. It applies to those assets which are not established as mentioned so they are part of the joint assets or the conjugal partnership.

Conjugal society

Getting married for common property implies belonging to a regime of civil marriage, in which the properties belong to both parties with a percentage of 50 percent.

But getting married under this regime also presupposes share the debts. In other words, if one of the two acquires a large debt, it will belong to both of them, regardless of whether only one went to the financial institution to process it.

So, if you decide to get a loan in joint ownership mode, you should keep in mind that both of you will appear at the credit bureau. This means that if either of them does not pay on time, they will be registered in the the history of both.

What assets are not part of the conjugal partnership?

They cannot be part of the conjugal partnership:

• Assets acquired before the marriage
• Inheritance or donation
• Assets acquired through the purchase and sale of own assets
• Items for personal use
• Articles necessary for the person to exercise his profession, art or trade
• Money acquired from prizes or donations

You do not need to get a divorce to end a conjugal partnership

It’s important to mention that if at some point in your marriage you decide to end or change your regime, you don’t need to get divorced. Some of the reasons you can end a community property are:

• When one of the spouses threatens to reduce the property that the couple has in common.

• When a spouse transfers assets to creditors or files for bankruptcy or bankruptcy.

There is also a third mode

In some states, as is the case of Jalisco, there is another form of patrimonial regime, that of a legal partnership, which consists in the formation of a common inheritance, in addition to that of each of the spouses, and whose rule and domain correspond vaguely to both spouses, with the limitations established by law.

make the best decision

COMMUNITY

Professionals: There is a sense of solidarity between the spouses, of teamwork and a desire to share everything. It protects the weaker of the spouses, such as when one of the spouses does not work or take care of the home.

Cons: If only one is the provider, in divorce the inheritance is divided in half, regardless of who contributed more. Obligations are shared, regardless of whether they are borne by only one of the spouses.

DIVIDED

Professionals: If there was a divorce and both worked, there is nothing to discuss in terms of property distribution. The consent of the spouse is not necessary for the free disposal of the other’s assets.

Cons: In the event of a divorce, a woman is at a disadvantage if she has devoted herself to caring for the children and no longer has work opportunities. It promotes individualism as everyone is the exclusive owner of their rights and duties.

Source: UNAM Institute for Legal Studies

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