Thursday, March 30, 2017

Para bawas away: Alvarez wants assets to be split equally among separating spouses

To prevent bitter disputes between separating couples, House Speaker and Davao Del Norte 1st District Rep. Pantaleon Alvarez has filed House Bill No. 5268 which seeks to stipulate that all properties and assets acquired during marriage shall be governed by the system of absolute community or co-owned by the couple in equal shares.

The politiko, in a statement March 20, said his proposed law also aims to prevent marriage for money.

Aside from this, House Bill 5268 is also seeking to amend Article 75 of Title IV of the Family Code mandating that in the absence of a marriage settlement, all assets acquired during the course of the marriage shall be co-owned by the couple in equal shares.

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 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 politiko said.

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 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.”

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. Under Art. 147 of the Family Code the salaries and wages of such couple are co-owned in equal shares.

Alvarez explained that in the interest of protecting the family, both spouses shall remain legally bound to provide for the support of the family through their separate properties.

The comments posted on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

Trending News

Want Politiko alerts on your inbox? Subscribe here.