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If I get divorced and have a marital property regime, should I liquidate them?

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He Profit regime Consists of the pooling of the profits or benefits obtained by the spouses during the marriage. To dispose of these assets, the consent of both will be required.

Assets obtained through the work or industry of both spouses, as well as those acquired with common assets, are considered marital assets; the fruits, income or interests produced by both private and community assets; companies and establishments founded during the life of the community property by either spouse with the common assets, etc.

Instead, they are considered private, belonging individually to each spouse, the assets, animals and rights of which he was already the owner at the beginning of the community property.

Also those acquired at any time by inheritance or donation, copyrights, compensation received for damages suffered personally or to private property, clothing and objects for personal use that do not have extraordinary value, the instruments necessary to practice the profession. or trade, except those that are part of or belonging to a common establishment or exploitation, as well as those acquired at the expense of or in substitution of other private assets.

Automatic dissolution

Divorce produces the automatic dissolution of the community property., putting an end to it. But, as long as she is not liquidated, there will be a post-profit community, formed by unliquidated marital assets and debts.

They will continue to belong to the community property and not to the spouses individually. However, this community will not be governed by the rules of the community property, but by those of the community of goods.

Liquidation

Once the community property is dissolved, you can proceed to its liquidation, although it is not mandatory to do so.

The liquidation consists of the distribution and allocation of marital assets, in half, to the spouses. It can be done by mutual agreement or judicially at the request of either spouse.

Inventory assets, rights, debts and charges

To liquidate the community property it is necessary carry out an inventory of assets and rights that form the asset and the debts and loads that make up the company’s liabilities, recording its value at the time of dissolution.

Once the inventory is prepared, the debts of the community property will be paid, food being preferred. If the liabilities are greater than the assets, the creditors may allocate community assets or request that they be sold, in this case collecting their credit with the proceeds of the sale.

Division and adjudication

Once the debts are paid, The remainder will be divided into two equal lotseach being awarded to a spouse.

Each spouse has the right to have, until their assets are complete, Goods for personal and professional use are preferably included in your lot.the business he manages and the place where he had been practicing his profession.

Furthermore, spouses also have right to receive food as an advance payment of the assets they will receive upon liquidation.

The judicial liquidation

The judicial procedure to liquidate the community property requires the intervention of lawyer and attorney.

Assessment and award

It’s a complex procedure in which a inventory formation. Subsequently, the assets are valued and awarded to the spouses. If the parties disagree about the value of the assets or their distribution, the intervention of experts or accountantsmaking the cost of the procedure more expensive.

Therefore, it will always be more interesting for the parties reach an agreement to liquidate the community property, avoiding the economic, temporal and emotional cost that any judicial procedure implies.

On the other hand, each party will have to assess what is the most opportune time to liquidate the community property that he maintained with his ex-spouse.

María José Rodríguez Rojas is a lawyer at ROJAS ABOGADA.

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