Business for sale

Business for sale

"My husband and I have a business in another canton that is being sold and forms part of our acquests. Can my husband sell it without my signature on the deed?

Eline, Cointrin

In 1984, a federal law changed the ordinary matrimonial property regime from the principle of union of assets to the regime of participation in acquests. If, in the year following the entry into force of the new law, you have not declared that you wish to remain subject to the old regime, or if you have not adopted the matrimonial regime of community of property by marriage contract, you are by law subject to the regime of participation in acquests.

Under the regime of participation in acquests, the spouses have separate assets during the marriage. There are four types of property: the wife's own property, the wife's acquests, the husband's own property and the husband's acquests. Own property is property you owned before your marriage and property inherited or received free of charge during the marriage. Acquests are property acquired for valuable consideration during the marriage, in particular the product of work, income from your own property, and property acquired as a replacement for acquests.

Under article 201 of the Civil Code (CC), each spouse has administration, enjoyment and disposal of his or her acquests and private property. Where the property is co-owned by both spouses, neither may dispose of his or her share without the consent of the other, unless otherwise agreed.

You mention that the business is an acquest. If it is an acquest in your husband's name only, he can sell it alone. If the business is in your name only, you may dispose of it alone. If it is co-owned, your husband may not sell it without your agreement and signature, unless you have expressly entrusted him with the administration of the property by granting him special authority to sell the business alone.