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Separation of assets

What is separation of assets?
Separation of assets is a matrimonial economic regime that differentiates each spouse's assets. Each spouse therefore manages and administers his or her property and rights.
Although in some parts of Spain it is applied on a subsidiary basis, in general prenuptial agreements must be executed in order for it to be applicable.

Characteristics of separation of assets:
- By keeping the estates of each spouse separate, separation of assets allows the income obtained during marriage to belong to the spouse who acquired it. This means each spouse does not share in the wealth of the other, although both of them have an obligation to contribute to all matrimonial obligations.
-The family home is subject to legal protection, meaning both spouses will have to agree to carry out acts of disposition on the property and family assets.

Advantages of separation of assets:
- Security: as it isolates the risk that debts could pose to the assets of each spouse.
- Practicality: by keeping assets separate, each spouse can perform acts of disposition without the consent of his or her partner.
- Ease: in the event of divorce, the division of assets will only affect communal property.

The matrimonial financial regime can be chosen before wedlock, or modified over the course of the marriage.