Sunday, March 13, 2016

Prenuptial agreement; separation of property between spouses - Only court can order separation of property | The Manila Times Online

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"On the other hand, if you have not agreed on a marriage settlement prior to the celebration of your marriage or when the regime you have agreed upon is void, the system of absolute community of property shall govern (Article 75, Family Code of the Philippines). That being the case, all the properties which you and your wife may have acquired at the time of the celebration of your marriage and thereafter will be for your common benefit and enjoyment, except those excluded under Article 92 of the Family Code of the Philippines. Insofar as the separation of your property, though it may be pursued voluntarily by the spouses or with sufficient cause, it can only be done by securing a judicial order (Article 134, Ibid.). Accordingly, you and your wife may jointly file a verified petition with the court for the voluntary dissolution of your absolute community and for the separation of your common properties. You may indicate therein your agreement with your wife as to your house and lot. You must likewise indicate in your petition all the creditors of your community property as well as your personal creditors as they shall be notified of your intended separation of properties (Article 136, Id.). Should the same be granted, such petition as well as the final judgment granting the same shall be recorded in the proper local civil registries and registries of property (Id.)."

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