With the marriage celebration is born In most cases the partnership society, since it is the applicable regime of a supplementary nature when the couple do not decide to apply another economic regime to their marriage (separation of assets or participation), a statement that must be formally made before a notary through a document known as marriage agreements.
In the joint venture, both the benefits or gains and the debts or losses are pooled, being totally indifferent which party generates them, so when the partnership is dissolved they will be attributed in equal parts, with the exception of certain contributions or debts that may be born only for one of the spouses, so they will be the sole responsibility if it is a debt of said spouse or the sole benefit of only one of the spouses, provided that a series of circumstances occur that must be assessed independently in each case. .
The community property is terminated when the spouses voluntarily decide so.Even if the marriage is in force, the economic regime can be altered by means of a notarial act known as "marriage contract", or by judicial resolution that ends the marriage, through a divorce decree. However, after the divorce, the community property must be liquidated and the “distribution” made.
The procedure for liquidating the community property can be carried out through different means.
Once the divorce and/or separation procedure has begun, as long as it is by mutual agreement, and consensually between both parties, an agreement is reached for the distribution of assets and/or debts, so such “agreement” is must present to the Judge who is hearing the procedure.
After a divorce and/or separation decree has been issued, even if the processing has been contentious, the parties may subsequently reach an agreement on how to distribute the assets, which may be documented through notarial intervention.
Finally, in the event that there is no agreement between the parties, judicial proceedings must be taken in order for the company to be liquidated. To do this, it will be necessary, first of all, to make an inventory of the assets (homes, bank accounts, land...) as well as the debts (mortgages, financial loans...) that the company owns, and proceed to evaluate and appraise them. ; and after that, the distribution of the liquidation attributable to each ex-spouse will be formulated, and it must finally be the judge who determines the proven amount of the debts or value of the assets, and the corresponding distribution to each of the parties.
If you wish to proceed to liquidate your community property, or have any questions regarding it, do not hesitate to contact us. Free first consultation.
