Because of the differences between the absolute ownership community and the marital system of property regimes, it is important that future couples decide before marriage what property regime they want. A marital agreement is always desired to end disputes over property or heredation. A minor of marriage age (18 years and older) may enter into a marriage agreement, but this is only valid if the parents/caregivers agree and are parties to the marriage agreement. Once a marriage agreement is reached, it cannot be amended unless it is amended before the marriage. After the marriage, a change in such a regime can only take place if: a) the absolute community or conjugal partnership has been dissolved and liquidated by separation decision; (b) reconcile spouses who were legally separated and agree to revive their former heritage regime; (c) the judicial separation of property took place on the grounds that one spouse leaves the other without physical cause or fails to fulfil his obligations to the family; (d) there has been a judicial separation of ownership within the meaning of section 135; (e) the spouses jointly applied for voluntary dissolution of their absolute community or conjugal partnership. As stipulated in section 77 of the Family Code: “The matrimonial regime and any modification of it are written, signed by the parties and executed before the celebration of the marriage. They must not assign third parties unless they are registered at the local registry office, if the marriage contract is registered, or in the proper heritage registers.” Under the Philippine Family Code (which came into force in August 1988), the parties, barring a valid marriage agreement entered into by the parties, will be subject to the absolute co-ownership regime. The common property consists of the entire property that belonged to or was acquired from the spouses at the time of the marriage celebration, with a few exceptions. B, such as property acquired during marriage by free title (i.e. property), property for the exclusive and personal use of the party and property acquired before marriage by a spouse with legitimate descendants through a previous marriage, including fruit and income, if it exists. For the registration of the deeds the prenup is added on each of the titles on the real estate subject of the Prenup.
The Prenup is also commented on the personality book of the corresponding register of deeds, where the personal property is located. Like what. B a prior declaration containing share certificates should be recorded in the register of deeds of the place where the company is headquartered, as stated in its statutes; considering that, for bank accounts, it would be in the place where the bank account is opened. We are almost December, and in the Philippines, it is the most popular month to get married. As brides-to-be prepare for the big day, it is likely that they will look at almost all the details of the preparations and the papers associated with them to facilitate the transition to married life. If you are one of them, you may forget something important in your list: a marital agreement. Far from being sweet and romantic, it is often considered a taboo to discuss your personal financial situation with your loved one.