(1) The reserved property is excluded from the common matrimonial property.
(2) Reserved property consists of the objects
1. that by marriage contract are declared the reserved property of a spouse,
2. that a spouse acquires as a result of death or that are given to the spouse by a third party free of charge, if the testator specified by testamentary disposition or the third party specified when making the disposition that the acquisition is to be reserved property,
3. that a spouse acquires on the basis of a right that is part of their reserved property or as compensation for the destruction of, damage to or removal of an object that is part of the reserved property or by a legal transaction that relates to the reserved property.
(3) Each spouse manages their reserved property independently. They manage it for their own account.
(4) If assets are part of the reserved property, this is effective against third parties only in accordance with section 1412.