Buying real estate when you are married avoids financial and legal arrangements. However, not all contracts involve exactly the same rules or the same framework for ownership and inheritance.
What plan to adopt to buy real estate when you are married?
Does the universal community contract remain the most protective for married couples?
The marriage contract has important consequences when buying real estate from a married couple. There are two types of marriage contracts:
- Community schemes, which involve property and common property management.
- The separation regimes, which imply that some goods belonging to one or the other spouse.
The marriage contract is, therefore, an essential element since it will, in particular, determine whether the housing belongs equally to the spouses regardless of the share they contributed during the purchase, or if the housing belongs to one of them and the other up to their quota.
The communist regime is adopted by 80% of married people and applies automatically if the spouses have not provided for a marriage contract. On the other hand, it is possible to change the contract during the marriage by going through a notary. For Mont Kiara new condo this is important. It is also important for others like a Subang Jaya condo.
With the regime of separation of property, no common good
When spouses opt for the regime of separation of property, this means that each of them has their own property which they manage independently. In principle, therefore, there is no common good. However, the spouses can completely buy real estate together, but they will each own it up to their contributions, and the distribution will appear in the authentic deed of sale signed before the notary.
Under the regime of the community reduced to acquests, two distinctions
When the spouses choose the regime of the community reduced to acquests, we then distinguish two types of patrimonies:
- The personal patrimonies of each of the spouses, because everything that has been acquired before the marriage is considered as its own patrimony and is not pooled.
- The patrimony common to both spouses, which is made up of all the property acquired during the marriage, whatever they may be, and whatever the distribution of personal contributions.
Thus, immovable property acquired before the marriage will remain the property of the one of the two spouses who acquired it, while a home purchased during the marriage will be common to both spouses, regardless of the amount they have contributed. Note also that decisions made regarding family accommodation must always be approved by both spouses.
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