ART. 154. THE Beneficiaries of A Family Home Are
ART. 154. THE Beneficiaries of A Family Home Are
THE
BENEFICIARIES OF A FAMILY
HOME ARE:
General Rule:
The family home shall be exempt from execution, forced sale or attachment.
Except:
For nonpayment of
taxes
Illustration:
A and B are married with five children. They
constructed on a house and lot which they bought after their
marriage.
The family home is a part of their absolute community
or conjugal partnership.
Art. 157. The actual value of the family home shall not
exceed, at the time of its constitution, the amount of the
three hundred thousand pesos in urban areas, and two
hundred thousand pesos in rural areas, or such amounts
as may hereafter be fixed by law.
In any event, if the value of the currency changes after the
adoption of this Code, the value most favorable for the
constitution of a family home shall be the basis of evaluation.
For purposes of this Article, urban areas are deemed to include
chartered cities and municipalities whose annual income at
least equals that legally required for chartered cities. All others
are deemed to be rural areas. (231a)
General Rule:
The family home may be sold, alienated, donated,
assigned or encumbered by the owner or owners
thereof.
the latter's
spouse
majority of
the
beneficiaries
person
constituting
the same