USA Office (725) 222-1116 * Mon-Sat: 9am-5pm PST |
Philippine Office +63 946 362 6255* Mon-Sat: 9am-5pm PHT |
It is presumed under the Family Code that the property bought by a married individual shall form part of the absolute community (or conjugal partnership if the spouses were married before August 3, 1987), unless the spouses have agreed to a separation of property before their marriage or if one of the spouses executes a sworn statement (Affidavit of Paraphernal / Separate Property) stating that the funds used to buy the property do not form part of their absolute community of property or conjugal partnership but were taken from the personal/paraphernal/separate funds of his/her spouse.
0
Also, note that the Affidavit of Paraphernal/Separate Property must be duly notarized or consularized if executed outside the Philippines.
No comments yet. Be the first to leave a comment.