Division of Marital Assets in Case of Separation: Understanding Legal Implications

In case of separation, the division of marital assets depends on the chosen matrimonial regime, either community property or separate property, established before marriage. During judicial separation, when no agreement is reached between spouses, the division varies significantly.

Under community property, assets acquired post-marriage are shared, excluding pre-existing assets, donations, and inheritances. Joint bank accounts are included but effectively divided only after separation. Legal separation ends community property without automatic division; both become co-owners, typically in equal shares unless jointly sold.

Separate property regime does not share marital acquisitions. Personal assets remain separate, but joint ownership may be presumed absent clear ownership proof. For joint bank accounts, funds are generally considered joint unless proven otherwise. Regarding real estate acquired during marriage, ownership is exclusive if documented in the contract and recorded accordingly.

In summary, the division of marital assets in case of separation hinges on the chosen matrimonial regime and whether consensus is achieved between the spouses or through judicial proceedings.

VGS Lawyers is a law firm specialised in Separation and Divorce. In case you need assistance please contact info@vgslawyers.com