In Spanish law there are several types of matrimonial property regime.
Community property regime.
This is the default regime in the Autonomous Community of Andalusia, where common law applies. By means of the community of acquisitions, the profits or benefits obtained by either of the spouses from the time of the marriage become common to the spouses, which will be attributed to them in half upon dissolution of the marriage. The financial regime can be changed at any time and without limit.
There are two types of property: private property (that which each spouse had before the marriage, for example) and community property, which belongs to the community of property.
Separation of property regime.
In the regime of separation, each spouse shall own the property which he/she had at the time of its initial establishment and any property acquired thereafter by whatever title. Likewise, the administration, enjoyment and free disposal of such property shall correspond to each spouse.
There is only the separate property of each spouse. In case of dissolution there are no assets to be divided.
Participation regime.
Under the participation regime, each spouse acquires the right to share in the profits made by his/her partner for as long as the participation regime has been in force. It is rarely used.
Marriage contracts.
The spouses may establish the matrimonial property regime that best suits their interests and, in this case, the instrument used for this purpose is the matrimonial property agreement.
A marriage contract is a contract, which can be concluded before or after the marriage and which is intended to regulate the matrimonial property regime or any other provisions of the marriage.
In order to be valid, they must always be formalized in a public deed.