Marriage Property Regime in the New Argentine Civil and Commercial Code

In the Argentine Civil Code in force, the marriage property regime is characterized by the formation of a mass of goods that at its conclusion will be shared between the spouses, thus both have a common expectation on the acquired goods. The new Argentine Civil and Commercial Code (the “New Code”) introduces the possibility that the future spouses choose, by the celebration of marriage conventions (the “Conventions”), a separate property regime. If they do not agree on a particular regime, the shared property regime will apply in a supplementary manner.
 
These Conventions have the following single aim: (i) designation and appraisal of the goods that each of the future spouses brings to the marriage, (ii) admission of debts, (iii) donations made between each other and (iv) option chosen taking into account the regimes contemplated in the New Code. For the Conventions to be valid, they must comply with the formality of being executed by a notarial instrument. Also, for these to be effective against third parties, the marriage certificate must include a note in the margin specifying the chosen regime. For the chosen regime to be modified, at least one year must have passed in the other regime. This change must be done by a convention between the spouses, also through a notarial instrument. In the event that there are creditors affected by this change, they will have one year to oppose, counting as from the time they became aware of the change.
 
Notwithstanding the differences between the two regimes, there are several provisions in common, such as: the duty of contribution and support between spouses, household and common children, the need for spousal consent to dispose of the rights related to family housing, mandates between spouses to represent each other, and legal representation when one spouse is absent or unable to express their will.
 
The new regime of shared property is similar to the one in the current code. Despite some changes, it remains characterized by a distinction between personal assets -from each of the spouses- and shared property -acquired during the term of the marriage. Each spouse responds to their creditors with their own assets and the shared property acquired by them. For the cost of maintenance and repair of shared property, the spouse who did not incur the debt shall also respond, but only with his or her shared property.
 
In the separate property regime, the spouses retain the management and disposal of their personal property, and each one of them is responsible for the debts they contract, except those incurred by one of the spouses to pay for ordinary household needs, or the maintenance and education of their children. Only in these cases are the spouses jointly liable.
 
Both in the shared property regime and the separate property regime, the termination of the same will result from the dissolution of the marriage, or by modifying the regime agreed on between the spouses.