Marriage is an institution that is defined as a conjugal partnership. As in any partnership, there are legal agreements that protect it and, in case of dissolution, to be able to make an equitable distribution of the assets. Read on to find out what tangible property is involved in a marriage.

What are the assets that can be distributed after the dissolution of the marital partnership?

When a married couple decides to divorce, the marital partnership must be dissolved, therefore, the assets connected with it must be separated. Consequently, each of the parties will obtain the profits that correspond to him/her for the totality of the assets acquired and contributed during the duration of the marital union.

On the other hand, the assets to be excluded at the time of divorce are the following:

• “Real property and rights in real property” that have been obtained under any title prior to joining in marriage.
• “Current or future assets” indicated in the marriage contracts that have been agreed upon by the contracting parties.
• “Surrogate owned real estate” after the marriage has taken place.

This subrogation is due to the fact that, if for some reason, a property or asset acquired in the years, months or days prior to the marriage ceremony has not been specified in the capitulations. Then, when the owner decides to sell it even if he/she is married, the proceeds of the negotiation should not be placed within the common property.

What is “absolute credit” and “relative credit” when it comes to marital partnership?

It is necessary to differentiate between these two concepts when talking about marital partnership. Absolute assets are defined by the Civil Code in Article 1781, paragraphs 1, 2 and 5. These refer to those obtained by the spouses individually by means of:

• Wages or salaries
• Emoluments related to all kinds of work and trades that are earned during the duration of the marriage.
• Pensions,
• Interest,
• Fruits,
• Revenues and profits inherent to social assets can also be their own, being individual of each one and having been accrued during the time the marriage was in force. In addition to those that were purchased by both of them, separately, when they were married, for valuable consideration.

All of these assets are divided 50-50, after all debts owed at the time of the divorce and their settlement have been paid. The relative assets are described in paragraphs 3, 4 and 6 of the aforementioned article of the Civil Code. Refers to:

• Money contributed by the spouses or acquired by them, separately, during their marital cohabitation.
• Real estate,
• Movable property and Expendable things that have been obtained by either or both of them to form part of the marital property.

Consequently, everything that is acquired and has entered the marriage as a relative asset, must be recompensed in its value when the divorce is executed.

Your marriage has ended, you live in Alicante and you want to get divorced, contact Carlos Baño León, Abogados

A marital partnership that has been formed can end at any time for various reasons. A divorce, in most cases, involves assets to be divided. And, almost always, the spouses are on bad terms and cannot agree.

Inevitably this process requires the services of legal professionals and at the law firm of Carlos Baño León you will be attended courteously and respectfully. The ideal is to reach an amicable agreement, which will substantially shorten the time and costs, but this is not always possible. Consult with the experts.