This work offers a study on the configuration of community of property as a suppletive regime in the Peruvian and Spanish legal systems. There are remarkable differences between both systems. Peruvian system combines the characteristics of a conventional regime, restricted in their scope ?because it is limited only to the free choice of one of the legally established property regimes, as well as to their replacement?, with the characteristics of a legal regime. The law establishes the content of each of the matrimonial property regimes that spouses can choose, without them being able to alter its contents or the suppletive regime that will operate in the absence of expressed will. There is a contrast with common Spanish Law which has a conventional system of absolute freedom. Spouses have extensive private autonomy to conclude marriage agreements and may agree to the exclusion of community of property as a suppletive regime. All these issues are analysed from a comparative law perspective.