Liquidation Procedure

Liquidation Procedure (Articles 810 and following of the Spanish Civil Procedure Law - LEC)

Once the inventory has been established, the Liquidation Procedure begins with a formal request. This must include a documented liquidation proposal, detailing:

✅ Asset valuation at the current market value using objective and uniform criteria.

✅ Payment of inventoried debts.

✅ Division of remaining assets in the appropriate proportions.

✅ Allocation of assets to each spouse, forming distinct asset groups.

Court Hearing & Agreement Attempt

Both parties are summoned before the Court Clerk (LAJ):

🔹 If an agreement is reached, an official record is drawn up, a Decree is issued, and assets and property titles are distributed accordingly.

🔹 If no agreement is reached, an Accountant is appointed, and if asset valuations are disputed, Experts are also designated. The case proceeds under the inheritance division procedure (Articles 785 and following of the LEC).

Expert Report & Objections

The Accountant must submit a report within two months, after which the parties have ten days to review it:

🔹 If both agree, a Decree is issued, approving the division and instructing asset distribution and formalization.

🔹 If there is disagreement, the opposing party must submit a written objection, leading to a verbal trial hearing.

Final Ruling & Appeal

The court's judgment:

⚖️ Does not create res judicata, meaning further legal challenges are possible.

⚖️ Can be appealed.

⚖️ Includes declarative and enforcement provisions, allowing execution of asset distribution.

This process ensures an orderly division of assets while providing legal recourse in case of disputes.