Family Code Prenuptial Agreement Philippines

However, in recent years, we have been spectators of a series of painful divorces, designed for the circus and stealing bags between celebrities and individuals, especially in the United States, which underlines the importance and true social value of a marriage contract. Therefore, we have become more open to discussion on the topic prenup and we have even adapted the trend quite harmoniously. From the word itself, a prenup must be performed before marriage. After marriage, no precautions can be taken by the parties and, therefore, any change in the rule of the property situation of the spouses can only be made with the agreement of the court. In principle, a marriage contract is a contract between the intending spouses that governs and sets out the rights and obligations of the parties with respect to all immovable property introduced by each party into the marriage, including future immovable property to be acquired. Since a prenup is a contract, the conditions of validity of contracts should also follow. Marriage contracts must be concluded voluntarily. They should be written. They may be set aside due to lack of consent, fraud, coercion, errors, undue influx or bad faith. To be effective vis-à-vis third parties, they must be certified notarized and registered in the land registers in due form to protect creditors and in the local register of civil status in which the marriage is concluded. The future spouses may choose that their marriage is subject to the regime of absolute community of property, partnership of matrimonial profits, total separation of property or any other regime, as long as they have been agreed and validly contracted. Under the Family Code of the Philippines (which came into force in August 1988), the parties are subject to the regime of absolute co-ownership, unless the parties have entered into a valid marriage contract.

Community property consists of all property belonging to the spouses at the time of marriage or acquired subsequently, with a few exceptions, such as for example. B property acquired by free ownership during the marriage (i.e. inheritance), property for the exclusive and personal use of the party and property acquired before the marriage by a spouse with marital descendants through a previous marriage; including fruits and, where applicable, income from such property. In the absence of evidence to the contrary, immovable property acquired during their life together was acquired by common efforts, works or industries and is in equal possession of them. For the purposes of this Article, a party that has not participated in the acquisition of assets by the other party shall be considered to have contributed jointly to the acquisition where the efforts of the former party were to care for and maintain the family and household. The recovery agreement and the application for authorization must be filed with the court as part of the same legal separation procedure, with copies of the two creditors mentioned therein. After a duly heard, the Tribunal shall adopt in its order measures to protect the interests of creditors and such order shall be recorded in the proper property registers. . . .