matrimonial property regime

A matrimonial property regime refers to the legal system that determines how a couple’s assets and liabilities are managed during marriage and divided if they divorce or separate. It establishes who owns what, whether property acquired before or during the marriage is shared or kept separate, and how debts are handled. Different regimes include community property, where assets are jointly owned, or separate property, where each person retains ownership of their individual assets. Understanding this regime helps couples know their rights and responsibilities regarding their finances and property throughout their marriage.