The system of Absolute Community of Property requires that all property owned by the spouses at the time of the celebration of the marriage or acquired thereafter shall be considered as belonging jointly to the husband and wife, except the following:

1. Property acquired during the marriage by gratuitous title (through donation or inheritance) by either spouse, and the fruits as well as the income thereof, if any, unless it is expressly provided by the donor, testator or grantor that they shall form part of the community property;
2. Property for personal and exclusive use of either spouse. Jewelry shall form part of the community of property.
3. Property acquired before the marriage by either spouse who has legitimate descendants by a former marriage and all the fruits and income, if any, of such property.

Under this system, the ownership, administration and use of the fruits (rental income and dividends) belong to the spouses jointly. In addition, sale, transfer and disposal of any of the community property shall be done with the consent of both spouses.