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Lee

House bill does away with pre-nup

7 posts in this topic

I am not sure if this will be good or bad for expats, how about you legal guys deciphering this for us?

Quote

 

http://www.philstar.com/headlines/2017/03/21/1683165/house-bill-does-away-pre-nup

There may soon be total separation of property between spouses without the need for a pre-nuptial agreement.

Couples whose marriage have turned sour can heave a sigh of relief once House Bill 5268, authored by Speaker Pantaleon Alvarez, is passed by the House of Representatives and eventually signed into law by President Duterte.

The bill seeks to amend Article 75 (Title IV) of the Family Code, which states that all properties brought into the marriage, including those acquired during the boyfriend-girlfriend period, shall be considered co-owned by the couple in equal shares.

This marital setup is in effect unless both parties signed a pre-nuptial agreement.

In a statement, Alvarez explained that his bill seeks to “prevent bitter property feud between estranged couples,” serving notice that this may “even deter marriage for money.”

For the longest time, all married couples have been governed by the “system of absolute community” where properties and monies of each spouse are considered common and is thus shared, depriving each party of having propriety rights over his/her possession. This bill will provide a solution to such problems, especially once they become estranged.

Alvarez said that while “at first glance, the provision of the law seems to be a testament to the integrity of the Filipino family, it does not address the complicated realities (in) facing marriages or relationships on the rocks.”

“The State must recognize that these realities are, in fact, burdensome and detrimental to the relations of less-than-ideal families and marriages. The contestation of property in the face of a growing rift only breeds resentment,” the Davao del Norte lawyer-congressman argued.

To address these problems, the bill proposes to replace the regime of absolute community with that of “total separation of property.”

“This system provides that each spouse shall own, dispose of, possess, administer and enjoy his and her own property, without need for consent of the other. Additionally, separate earnings shall be owned by each spouse separately,” Alvarez explained.

The bill, however, retains the provision of the Family Code allowing future couples to enter into a marriage settlement for a “regime of absolute community, conjugal partnership of gains, complete separation of property or any other regime.”

Thus, the proposed amendment provides: “In the absence of a marriage settlement, or when the regime agreed upon is void, the regime of total separation of property as established in this Code shall govern.”

Likewise, the same system applies to the property regimes of unions without marriage or under a void marriage.

 

 

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I read it as they are making total separation of property regime as default, rather than it being everything is conjugal property by default, unless specified. No real difference for those who knew they could choose total separation of property before, and did so.

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14 minutes ago, Lee said:

which states that all properties brought into the marriage, including those acquired during the boyfriend-girlfriend period, shall be considered co-owned by the couple in equal shares.

That just tightens the noose around the guys neck even further giving the wife a chance to take what the man acquired before the marriage

 

 

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2 minutes ago, shadow said:

I read it as they are making total separation of property regime as default, rather than it being everything is conjugal property by default, unless specified. No real difference for those who knew they could choose total separation of property before, and did so.

So how is this new law going to affect joint bank accounts, right now upon the death of one party, a tax has to be paid before the joint owner can use any money in the account, I think this bill will be used to say half the money belonged to the party who died, so if it is a Filipino that died, the Filipino family might have claim to the money instead of the husband. :unsure: 

1 minute ago, KID said:

That just tightens the noose around the guys neck even further giving the wife a chance to take what the man acquired before the marriage

 

Exactly my concerns. 

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2 hours ago, KID said:

including those acquired during the boyfriend-girlfriend period

Actually, the way that reads it sounds like only property "acquired" starting with the courtship is divided. Sounds like what each had before the courtship remains their own

If it's a joint back account, I would clean it out before reporting my spouses death.

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2 hours ago, KID said:

That just tightens the noose around the guys neck even further giving the wife a chance to take what the man acquired before the marriage

 

 

Interesting that you chose to leave off the first half of the sentence, which states :  The bill seeks to amend Article 75 (Title IV) of the Family Code, which states that all properties brought into the marriage, including those acquired during the boyfriend-girlfriend period, shall be considered co-owned by the couple in equal shares.

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14 minutes ago, Dafey said:

Actually, the way that reads it sounds like only property "acquired" starting with the courtship is divided. Sounds like what each had before the courtship remains their own

If it's a joint back account, I would clean it out before reporting my spouses death.

We have escorted several new widows to the bank encouraging them to get out what they can before the bank finds out the spouse died. MAJOR pain to get it afterwards.

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