The Monarchy of Spain, constitutionally referred to as The Crown and commonly referred to as the Spanish monarchy or (historically) Hispanic Monarchy, is a constitutional institution and a historic office of Spain. The monarchy comprises a reigning King or Queen of Spain, their family, and the royal household organization which supports and facilitates the monarch in the exercise of his royal duties and prerogatives. The monarchy is currently represented by King Juan Carlos I, his wife Queen Sofia, and their children and grandchildren.
The Spanish Constitution of 1978 re-established a constitutional monarchy as the form of government for Spain. The 1978 constitution affirmed the role of the King of Spain as the personification and embodiment of the Spanish State and a symbol of Spain's enduring unity and permanence. Constitutionally, the king is the head-of-state and commander-in-chief of the Spanish Armed Forces. The constitution codifies the use of royal styles and titulary, royal prerogatives, hereditary succession to the crown, compensation, and a regency-guardianship contingency in cases of the monarch's minority or incapacitation. According to the constitution, the monarch is also instrumental in promoting Ibero-American relations, the "nations of its historical community". In this capacity, the King of Spain serves as the president of the Ibero-American States Organization, purportedly representing over 700,000,000 people in twenty-four member nations worldwide. In 2008, Juan Carlos I was considered the most popular leader in all Ibero-America.
The monarch's position as the "Fount of honour" within Spain is codified in Article 62 (f); it is incumbent upon the monarch to "[...] confer civil and military positions and award honors and distinctions in conformity of the law". According to the Spanish Ministry of Justice, nobility and grandee titles are created by the "sovereign grace of the king", and may be passed on to the recipient's heirs, who may not sell the title. Titles may revert to the Crown when their vacancy is observed. Succession of titles may follow one of several courses listed on the Title of Concession when the title is created. As a general rule, most titles are now inherited by absolute Cognatic Primogeniture (as of 2006), in which the first born inherits all titles regardless of gender. However, a title holder may designate his successor, Succession by Assignment, or disperse his titles among his children – with the eldest getting the highest-ranking title, Succession by Distribution.