What happens to the bare property if there is a divorce?
The bare property is a part of the full property with which the ownership of the property in question is acquired. Like any other type of property, the nuda is subject to what is established by the laws contained in the civil code.
"Until death do us part". This phrase is repeated over and over again in the hundreds of thousands of ecclesiastical marriages that take place in the world. However, we know that there are few occasions in which death is not precisely what separates a couple. Let's see what happens in the situation of naked property and divorce.
What happens to the assets that are part of the conjugal partnership at the time its members decide to separate? Within the negotiations of the separation of assets, all assets will enter into their distribution without distinction and this does not exclude the possession of a bare property.
However, the fact that the usufruct is in the hands of a third party will delay the outcome that the property may ultimately have. Presumably, when the separation occurs, what each of the spouses wants is to have - sooner rather than later - their share?
Property cannot be liquidated
However, in the case of a real estate possession subject to a usufruct regime, even if a court orders the separation of assets, this cannot be liquidated until the term of the same has elapsed.
However, the spouses - once the judge's ruling has been made known - can negotiate their share if they are eager to obtain liquidity.
The most advisable thing may be to offer your counterpart to keep the entire bare property in exchange for the agreed amount of cash. In that same agreement, it will be stipulated how to manage the rest of the value of the home upon termination of the usufruct.
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In the event that the usufruct is about to expire —if it is temporary—, then arrangements could be made to wait and sell the property, and thus each one will take the full value that corresponds to him.
Compensate with other assets
It should not be ruled out that one of the spouses is interested in keeping the entire bare property, in which case it would compensate with some other patrimony belonging to the conjugal partnership.
All this, of course, if at the time of getting married they did not sign a separation of property agreement where an inventory of assets is generally made separately, previously acquired and from which both spouses will refrain from making claims in the event of divorce.
The existence of offspring in a marriage can condition the negotiations of a divorce. The law seeks to protect minors, guaranteeing above all their right to housing, which does not affect the case of having bare ownership of a home, taking into account the inability to use and enjoy it.
That is why the usufructuary will not have to worry about this circumstance, since the law protects their right according to the terms of the negotiation carried out.
Apply for a mortgage
Another option that the couple will have to liquidate the bare property without prejudice to the usufructuary is to mortgage it, in order to obtain funds with which to resolve any dispute in this regard. In these scenarios, due to the disaster that it entails for the members of the couple, it is urgent to have cash and this is one way to solve it.
In short, a residence whose usufruct has been transferred or if a bare property has been acquired as an investment, when it comes to liquidating joint assets, the right of the usufructuary will always have to be respected , postponing the possibility of liquidation until the moment it expires. The usufruct and reunites for itself the full property.