ME AND MY FIANCE BOUGHT A PROPERTY UNDER PAG-IBIG LOAN?
1 ME AND MY FIANCE BOUGHT A PROPERTY UNDER PAG-IBIG LOAN? on Wed Oct 19, 2011 9:56 am
2 Re: ME AND MY FIANCE BOUGHT A PROPERTY UNDER PAG-IBIG LOAN? on Wed Oct 19, 2011 11:23 am
Art. 147. When a man and a woman who are capacitated to marry each other, live exclusively with each other as husband and wife without the benefit of marriage or under a void marriage, their wages and salaries shall be owned by them in equal shares and the property acquired by both of them through their work or industry shall be governed by the rules on co-ownership.
In the absence of proof to the contrary, properties acquired while they lived together shall be presumed to have been obtained by their joint efforts, work or industry, and shall be owned by them in equal shares. For purposes of this Article, a party who did not participate in the acquisition by the other party of any property shall be deemed to have contributed jointly in the acquisition thereof if the former’s efforts consisted in the care and maintenance of the family and of the household.
Neither party can encumber or dispose by acts inter vivos of his or her share in the property acquired during cohabitation and owned in common, without the consent of the other, until after the termination of their cohabitation.
When only one of the parties to a void marriage is in good faith, the share of the party in bad faith in the co-ownership shall be forfeited in favor of their common children. In case of default of or waiver by any or all of the common children or their descendants, each vacant share shall belong to the respective surviving descendants. In the absence of descendants, such share shall belong to the innocent party. In all cases, the forfeiture shall take place upon termination of the cohabitation.
3 Re: ME AND MY FIANCE BOUGHT A PROPERTY UNDER PAG-IBIG LOAN? on Wed Oct 19, 2011 4:26 pm
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