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Guide 50 In terms of marriage settlements the Family Code provides the following The future spouses may in the marriage settlements agree upon the regime of absolute community conjugal partnership of gains complete separation of property or any other regi

In terms of marriage settlements the Family Code provides the following The future spouses may in the marriage settlements agree upon the regime of absolute community conjugal partnership of gains complete separation of property or any other regime In the absence of marriage settlements or when the regime agreed upon is void the system of absolute community of property as established in this Code shall govern In order to have a better appreciation and understanding between conjugal partnership of gains and the system of absolute community it is best to know their di ?erence These two property regimes are just a part of other property regimes spouses may enter into Conjugal Property Distinguished from System of Absolute Community What is a system of absolute community This is one of the regimes or systems of property relations between the spouses and the default system in the absence of a prenuptial agreement or when the agreed system is null and void This system commences at the precise moment that the marriage is celebrated and any stipulation for the commencement of the community regime at any other time is void In a nutshell the husband and the wife are considered as co-owners of all properties they bring into the marriage those that they owned before the marriage as well as the properties acquired during the marriage except for certain properties express excluded by law listed below The rules on co-ownership apply in all matters not provided under the Family Code What is the Conjugal Property of Gains Oftentimes referred to as the CPG it is one of the property relations between the spouses under which the husband and wife place in a common fund the proceeds products fruits and income from their separate properties and those acquired by either or both spouses through their e ?orts or by chance and upon dissolution of the marriage or of the partnership the net gains or bene ?ts obtained by either or both spouses shall be divided equally between them unless otherwise agreed in the marriage settlements In other words the following are placed in a common fund The proceeds products fruits and income from their separate properties and Those acquired by either or both spouses through their e ?orts or by chance What are their di ?erences A In the system of absolute community all the properties owned by the spouses at the time of the marriage become community property In the conjugal partnership each spouse retains his or her property before the marriage and only the fruits and income of such properties become part of the conjugal properties during the marriage B In the system of absolute community what is divided equally between the spouses or their heirs upon the dissolution and liquidation of the community property is the net remainder of the properties of the absolute community so that it may happen that a piece of land owned by either spouse before the marriage being the only property left after the dissolution of