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Property paid by Conjugal Funds remains Exclusive
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TOPIC: Property paid by Conjugal Funds remains Exclusive

Property paid by Conjugal Funds remains Exclusive 7 months, 2 weeks ago #912

  • r2ust
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While it is not customary nowadays to deliver an ownership on a bought property on installment, Art 118 of Family Code contemplates a situation where a buyer-spouse acquires ownership prior to marriage thereby excluding the same from conjugal properties even though payment completion of property on installment transpired during the marriage and using the conjugal funds.

Art. 118. Property bought on installments PAID partly from exclusive funds of either or both spouses and partly from conjugal funds belongs to the buyer or buyers if full ownership was vested before the marriage and to the conjugal partnership if such ownership was vested during the marriage. In either case, any amount advanced by the partnership or by either or both spouses shall be reimbursed by the owner or owners upon liquidation of the partnership. (n)

Re:Property paid by Conjugal Funds remains Exclusive 7 months ago #927

  • Audri11
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So this means that the installment property remained with the one who initially applied for it? Subject to reimbursement...

Re:Property paid by Conjugal Funds remains Exclusive 7 months ago #929

  • r2ust
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The transfer of ownership decides regardless when the payment has been consummated --- prior to marriage = exclusive; during marriage = conjugal.

Might be asking how come "prior to marriage"? Well, there are transactions where seller agrees to transfer PRIOR to full payment and prior to marriage.

Code Commissioners have foreseen these.
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