What system governs the ownership and management of property between married persons?

The correct answer is the Matrimonial Regime. In Louisiana, the Matrimonial Regime refers to the legal framework that governs the ownership and management of property between married individuals. This regime determines how property is categorized and what rights each spouse has in relation to that property.

In Louisiana, the two primary types of matrimonial regimes are community property and separate property. Community property is property acquired during the marriage, which is owned jointly by both spouses. Separate property consists of assets owned by one spouse before the marriage or acquired by gift or inheritance. The Matrimonial Regime establishes the rules regarding the disposition, management, and ownership of these properties.

While community property is a crucial aspect of the Matrimonial Regime, the term itself more broadly encompasses all aspects of property ownership and management for married couples. Thus, understanding the concept of the Matrimonial Regime is essential for comprehending the totality of property rights and obligations between spouses in Louisiana.