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Regulatory Agreement: What you shouldn't overlook.

Regulatory Agreement: What you shouldn't overlook.
There are three points that should never be overlooked in a Regulatory Agreement, and they are the following:

1. Make very clear everything that is included in the amount set as payment for alimony and what are extraordinary expenses, and which are therefore not considered included in that amount.

In a good draft of a regulatory agreement, it should appear which items we assign to optional medical expenses, such as the use of glasses and/or contact lenses, the need for dental treatment with orthodontics, which activities are considered extracurricular activities, etc

Therefore, it is very important that the wording of the regulatory agreement is clear and does not cause doubts regarding its application. It is about determining what we consider extraordinary expenses, in what proportion they will be paid by each of the parents, for example if books and school supplies will be considered as extraordinary expenses or, if not, if they will be paid fifty percent per parent. each parent, or in another proportion. It is very important to define the proportion, since agreements can be reached in which they are not 50% of the payment of extraordinary expenses, but rather they are associated with the percentage agreed upon by the parties, for example 40% vs 60 %.

In the event that you do not specify anything in this regard, the books and school supplies will be understood to be included in the amount set as alimony. Therefore, specifying a certain alimony can help avoid future disputes regarding unforeseen expenses or whose purpose has not been regulated. That is why it is important to define a good negotiation and/or judicial defense strategy when claiming alimony at the time of divorce.

2. Establish in the agreement that if within a stipulated period of time the spouse awarded full ownership of the property has not released the mortgage loan to her ex-partner, she will once again be the owner of the property.

We cannot lose sight of the fact that although it is determined in the Regulatory Agreement that the spouse who is awarded the property will take charge of the mortgage loan and will become the owner of the property, let us not forget that what is going to be decisive for the bank , will be reflected in the mortgage loan contract. For this reason, and given the difficulty that many banks offer when subrogating a mortgage or when assigning a loan, it is important to stipulate through a private contract what property agreements the members of the couple reach. Since it may happen that the true owner of the mortgage is not the same person who actually makes the payments. Therefore, it is mandatory from the point of view of legal security to consult a specialist law firm, in order to be able to prevent the adoption of the agreements reached and the property obligations that have been reached. For example, stipulating private agreements for the transfer of property or agreements in which a maximum period of time is stipulated in which one of the members of the couple can reside in the family home.

Since many times, it may happen that one of the parties must pay the mortgage payments, even if they are the owner of the property, but instead cannot live in it, and must look for a new rental home or through purchase, for a new home.

3. Resolve everything related to the distribution of furniture and household goods by whoever must leave what has been the family home before doing so, or at least before signing the Regulatory Agreement.

The ideal would be that if you intend to leave the home, before formalizing the divorce, an inventory should be carried out through a notarial deed of the existing assets that are considered property of the spouse who is leaving the property. In another case, it should be made clear in the agreement what those assets are, clearly stating that they will be pending removal on the day that the parties agree. Since unless the contrary is stipulated, it may be understood that all the movable property that constitutes the trousseau of the home belongs equally to both members.

This specific case occurs relatively frequently in couples or marriages in which each one has contributed certain assets to the home. For example, one party provides the furniture and the other party the appliances, which dilutes the assets provided by both when they begin the romantic relationship, but on the other hand, when the relationship ends, a great imbalance can occur, since we are talking about significant economic amounts.

Therefore, it is advisable that said payments and contributions be made from personal bank accounts and not from common or indistinct bank accounts, since later the burden of proof will be much more complex. It may also be useful for each party to keep the amounts by invoice or bank receipt of the very important expenses incurred in the family home. Since in the event of a breakup, it will be much easier to justify the different items made to the other party in a negotiation process through a lawyer or through a judicial procedure.

These three aspects are basic requirements that must be taken into account in any regulatory agreement. Failure to do so can have serious consequences in the future.

Contact us, and our lawyers specializing in family law will study your specific case. 

At Forcam Abogados we have offices in BarcelonaMadrid and Reus.