Competition Law

Transcript:

Hello!
Matrimonial regimes, or marital property systems can be divided into two main systems, namely:

• The Separate Property System and
• The Community Property System

Many jurisdictions accept prenuptial agreements which are also called “prenups”  or “antenuptial contracts”. These will supersede many of the default marital laws that would otherwise (diversamente) apply in the event of divorce.

Conflict in national laws means that there is no umbrella term for the rules within different systems

Variations of Separate Property System include:

• Separate Property: where all pre-marital or marital property is owned separately.
• Separate Property with Equitable Distribution: when most of the property acquired during the marriage is owned by only one spouse, courts will grant (concederanno) an equitable (equo) distribution of the richer spouse’s property at divorce or death.
• Accrual System or Deferred Community Property: where property is owned separately during the marriage, but after divorce or death of a spouse, the assets are put together as joint tenancy, “where both spouses own everything totally”, and the property is then divided equally.
• Tenancy by the Entirety (TBE): in which spouses are treated as one person, each having an equal ownership interest in the property. In some U.S. states, tenancy by the entirety is limited to realty (beni immobili) while in other states it is available for both realty and personalty (beni mobili).

Variations of Community Property System include:

• Community of Acquests and Gains: where each spouse owns an undivided half-interest in all assets acquired during marriage, excluding property acquired by gift or inheritance during the marriage, and excluding separate property acquired before the marriage, and excluding property which is acquired during a period when the couple are permanently living apart.
• Community of Profit and Loss: which is similar to “Community of Acquests and Gains” but liabilities (debiti), or “losses”, are separate property.
• Community of Personal and Marital Property: where community property consists of all personalty and realty (beni mobili e immobili) acquired during the marriage as well as all personalty acquired before the marriage, but realty acquired before marriage is separately owned.
• Limited Community Property: which is similar to Community of Acquests and Gains, but certain marital property is separate property.
• Universal or Absolute Community Property: where all pre-marital and marital property is community property. However, if there are children from a prior marriage, the property associated with that marital community may be segregated from the community property of a subsequent marriage, to ensure the children of the prior spouse have an inheritance.

Thank you, and see you next time for more Peter’s Pills to improve your legal English.

For your interest:

Look here for a comparative explanation of the rules relating to the division of marital property of spouses that have an international element to their relationship in cases of divorce, separation or death in certain European countries: https://e-justice.europa.eu/content_matrimonial_property_regimes-36686-en.do.

Legal English – Sommario delle Lezioni

• Legal English – Peter’s Pills – Lesson 64 – Representations and Warranties
• Legal English – Peter’s Pills – Lesson 63 – Machine translations
• Legal English – Peter’s Pills – Lesson 62 – Legal Timelines
• Legal English – Peter’s Pills – Lesson 61 – Liens
• Legal English – Peter’s Pills – Lesson 60 – Test your Legal English
• Legal English – Peter’s Pills – Lesson 59 – Appurtenent vs In gross
• Legal English – Peter’s Pills – Lesson 58 – Building societies and Banks
• Legal English – Peter’s Pills – Lesson 57 – Valid, void and voidable contracts
• Legal English – Peter’s Pills – Lesson 56 – Rescission
• Legal English – Peter’s Pills – Lesson 55 – Golden expressions
• Legal English – Peter’s Pills – Lesson 54 – Pre-emption right vs Right of first refusal
• Legal English – Peter’s Pills – Lesson 53 – What do we mean by “agent” of a company?
• Legal English – Peter’s Pills – Lesson 52 – Voting at a meeting
• Legal English – Peter’s Pills – Lesson 51 – Contracts vs Deeds
• Legal English – Peter’s Pills – Lesson 50 – Executive and Non-Executive Directors
• Legal English – Peter’s Pills – Lesson 49 – Transfer of shares vs transmission of shares
• Legal English – Peter’s Pills – Lesson 48 – They, them, their for singular nouns
• Legal English – Peter’s Pills – Lesson 47 – Jointly and severally
• Legal English – Peter’s Pills – Lesson 46 – Invoice words
• Legal English – Peter’s Pills – Lesson 45 – Quotation
• Legal English – Peter’s Pills – Lesson 44 – Gazumping and Gazundering
• Legal English – Peter’s Pills – Lesson 43 – English words that the English do not understand
• Legal English – Peter’s Pills – Lesson 42 – Easement vs Profit à prendre
• Legal English – Peter’s Pills – Lesson 41 -er, -or and -ee names
• Legal English – Peter’s Pills – Lesson 40 – The Objects Clause
• Legal English – Peter’s Pills – Lesson 39 – When is Latin hot, and when is it not?
• Legal English – Peter’s Pills – Lesson 38 – Default
• Legal English – Peter’s Pills – Lesson 37 – Company Agent
• Legal English – Peter’s Pills – Lesson 36 – Injunction (false freind)
• Legal English – Peter’s Pills – Lesson 35 – Mortgage
• Legal English – Peter’s Pills – Lesson 34 – Freehold, Leasehold and Commonhold estates
• Legal English – Peter’s Pills – Lesson 33 – Transferor, Transferee and Transmittee
• Legal English – Peter’s Pills – Lesson 32 – Tax evasion, tax mitigation and tax avoidance
• Legal English – Peter’s Pills – Lesson 31 – Numbers
• Legal English – Peter’s Pills – Lesson 30 – Ordinary resolutions vs special resolutions
• Legal English – Peter’s Pills – Lesson 29 – AGM vs EGM
• Legal English – Peter’s Pills – Lesson 28 – A going concern
• Legal English – Peter’s Pills – Lesson 27 – Collocations: Violate, breach, break, disobey and infringe
• Legal English – Peter’s Pills – Lesson 26 – Company meeting words
• Legal English – Peter’s Pills – Lesson 25 – Mortgagor vs Mortgagee
• Legal English – Peter’s Pills – Lesson 24 – Fixed charges vs Floating charges
• Legal English – Peter’s Pills – Lesson 23 – Doctrine
• Legal English – Peter’s Pills – Lesson 22 – Construe
• Legal English – Peter’s Pills – Lesson 21 – Sign vs Execute
• Legal English – Peter’s Pills – Lesson 20 – The closing statement
• Legal English – Peter’s Pills – Lesson 19 – Writing Business Emails
• Legal English – Peter’s Pills – Lesson 18 – Limited companies
• Legal English – Peter’s Pills – Lesson 17 – Annual Accounts
• Legal English – Peter’s Pills – Lesson 16 – Meetings
• Legal English – Peter’s Pills – Lesson 15 – Attorney-at-law vs Attorney-in-fact

Peter Liebenberg

Peter Liebenberg è uno specialista nella formazione delle persone nella conoscenza della lingua inglese. Ha creato molti corsi nel campo dell’inglese per professionisti, tra cui English for banking, English for business e English for Insurance, ma ha sempre avuto un debole per l’inglese legale. Altri corsi che ha creato comprendono Phrasal Verbs I e II. Quando Peter non fa formazione, corre a Parco Sempione, crea arte nel suo studio sulla Martesana e fa volontariato.