The objective of CORSA is to strike a balance between the Community of Acquests and Separation of Estates régimes. In the former régime, nearly everything acquired by either of the spouses will be pooled into one large estate, while in the latter all the property of the spouses remains individually owned.
Through the CORSA régime:
- all that is acquired by the spouses is held to be administered separately. However spouses can be co-owners of specific items they choose to co-own (identical to the Separation of Estate régime).
- once the régime is terminated (either because spouses have retired from work or due to marriage breakdown) all that has been acquired by the spouses will be ‘pooled-in’ and divided between the two. For example if during the CORSA régime the wife acquired 100,000€ and the husband acquired 50,000€, once the regime is terminated each will receive 75,000€.
Property that is subject to the CORSA
All the property that becomes co-owned through the Community of Acquests régime is also will also form part of the CORSA régime. This list of property has already been briefly discussed in the relating article. Therefore on dissolution of the CORSA régime all of this property is pooled in and divided in equal shares.
Advantages of CORSA
CORSA is ideal if one or both of the spouses are involved in business. In such case there can be separate administration of the property, but at the same time spouses have an incentive to pool into the family the residue (i.e. profits) of the business since that is what they would eventually receive should the régime be dissolved.
Disadvantages of CORSA
The party who acquired less money or resources while the régime is in force will be advantaged since he or she will earn half what the other party has produced.