Cap. 16 Art. 1322Administration of the community of acquests.

(1) The ordinary administration of the acquests and the right to sue or to be sued in respect of such ordinary administration, shall vest in either spouse.

(2) The right to exercise acts of extraordinary administration, and the right to sue or be sued in respect of such acts or to enter into any compromise in respect of any act whatsoever, shall vest in the two spouses jointly.

(3) Acts of extraordinary administration are the following:

(a) acts whereby real rights over immovable property are acquired, constituted or alienated;

(b) acts constituting or affecting hypothecation of property;

(c) acts whereby immovable property is partitioned;

(d) acts granting rights of use and, or, enjoyment over immovable property;

(e) donations other than those referred to in article 1753(2)(a);

(f) borrowing or lending of money, other than the deposit of money in an account with a bank;

(g) the acquisition of movable property or of any right of use or enjoyment over movable or immovable property the consideration for which is not paid on, or prior to, delivery: Provided that this shall not apply to any debt incurred for the needs of the family in terms of article 1327(c), or to the hiring of movables or immovables when the consideration therefor is moderate in relation to the condition of the family and the duration of the lease is for a short period;

(h) the contracting of any suretyship;

(i) the giving of a pledge;

(j) the entering with unlimited liability in a commercial partnership, or the subscribing to or acquisition of any shares in a limited liability company which are not fully paid up;

(k) the transfer of a business concern as well as the transfer of any share in a commercial partnership other than a public company;

(l) any act that may give rise to a special privilege in terms of paragraph (b) of article 2010;

(m) any act of rescission of any act referred to in paragraphs (a) and (c), and any act of declaration made whereby any real right over immovables is inter vivos acknowledged or renounced; and

(n) the settlement in trust of property forming part of the community of acquests and the variation or revocation of the terms of any trust in which any such property has been settled.

(4) Any money deposited in a bank and any instrument, as defined in the Second Schedule of the Investment Services Act, to the credit of a married person may only be withdrawn by such married person and it shall not be enquired whether such money or instrument belongs to the community of acquests or not.

(5) The provisions of sub-article (4) shall continue to apply even after the termination of the community of acquests for any reason whatsoever and are without prejudice to the right of each of the spouses to his or her full share of the community upon its partition.

(6) Either spouse may, by means of a public deed or a private writing duly attested in terms of article 634 of the Code of

Organization and Civil Procedure, appoint the other spouse or any other person, as his or her mandatory with regard to acts of extraordinary administration and compromise.

(7) The notary publishing a public deed as is referred to in sub-article (6), and the advocate or notary public attesting a private writing as referred to in the same sub-article, shall in each case warn the spouse so appointing a mandatory of the importance and consequence of such appointment and shall in the public deed or the private writing, as the case may be, declare that he has so warned the spouse.