Legal Aspects Of Sales, Lease And Mortgage / Family Code / Property MGT

The occupations of real estate consultant, real estate broker, and real estate appraiser are required by law to be registered with the Professional Regulations Commission. However, the occupation of property manager is not required to be registered with the commission.

The correct answer is 3 August 1988. This is the date when the Family Code became effective. It is important to note that the Family Code is a set of laws that governs family relations and regulates marriage, property relations, and other aspects of family life in the Philippines. Therefore, the date of effectivity is significant as it marks the beginning of the implementation of these laws.

Real Estate mortgage special requisites cover immovable property as well as alienable real rights imposed upon immovable property. This means that the special requisites apply to both the physical property itself and any legal rights or restrictions associated with it.

Escheat is the correct answer because it refers to the legal process by which the state takes ownership of property when the owner dies without any heirs. This ensures that the property does not remain unclaimed or abandoned. Escheat allows the state to redistribute the property or use it for public purposes. Expropriation, eminent domain, and taxation are not applicable in this scenario as they involve different circumstances and purposes.

The term "legitime" refers to the part of the testator's property that they are not able to freely dispose of because the law has reserved it for specific heirs, who are known as compulsory heirs. This means that the testator cannot distribute or give away this portion of their property as they wish, as it is legally designated for certain individuals.

The essential requisites of a contract include the consent of the contracting parties, an object that is certain and is the subject matter of the contract, and a cause or consideration for the obligations. All of these elements are necessary for a contract to be valid and enforceable.

The obligations of a lessor include delivering the property in a good condition for the intended use, ensuring the lessee can peacefully and adequately enjoy the lease throughout its duration, and making necessary repairs to keep the property suitable for use. Therefore, the correct answer is "All of the above."

Probate proceedings are a special court process that must be instituted to determine the validity of the testamentary disposition of a deceased person. This involves presenting the will to the court, proving its authenticity, and ensuring that it meets all legal requirements. The court then oversees the distribution of the deceased person's assets according to the instructions laid out in the will. This process is important to ensure that the deceased person's wishes are respected and that their property is transferred to the appropriate beneficiaries.

If the child was acknowledged by the father in a public document, then the child may use the surname of the father. This means that the father has publicly recognized the child as his own, which gives the child the right to use his surname. The other conditions mentioned in the question, such as the father being present in the hospital or the parents living together, do not affect the child's right to use the father's surname.

A marriage contract is a special contract of permanent union between a man and a woman that is entered into in accordance with the law. It is a legally binding agreement that establishes conjugal and family life. The nature, consequences, and incidents of a marriage contract are fixed by law and cannot be changed through stipulation. This means that the terms and conditions of a marriage contract are determined by the law and cannot be altered or negotiated by the parties involved.

The Land Registration Authority is the agency of the government charged with the execution of laws relative to the registration of lands. It operates under the executive supervision of the Department of Justice. The Bureau of Lands and HLURB are not responsible for the registration of lands, so they are not the correct answer.

The term "Indigenous Peoples" refers to a specific group of people or societies who identify themselves as such and are also recognized as such by others. These individuals or communities have a long history of living together as an organized community. The term "Indigenous" acknowledges their original or ancestral connection to a particular land or territory. This term is often used to highlight the unique cultural, historical, and social characteristics of these communities and to recognize their rights and contributions. "Ancestral Peoples" and "Native Peoples" may have similar connotations, but they do not specifically capture the continuous and organized community aspect that is inherent in the term "Indigenous Peoples."

Capital property refers to assets or property that is owned exclusively by the husband. This can include real estate, investments, businesses, and other valuable assets. It is distinguished from paraphernal property, which refers to assets that are owned jointly by both spouses. Chattel refers to movable personal property, and accession refers to the right to increase or add to property.

When spouses are married after the effectivity of the family code without any pre-nuptial agreement, they are governed by the system of absolute community of property. This means that all assets and properties acquired by either spouse during the marriage belong to the community and are jointly owned by both spouses. Each spouse also shares equal ownership of any debts or liabilities incurred during the marriage. This system promotes the principle of unity and equal sharing of resources between spouses.

When spouses are married after the effectivity of the Family Code without any pre-nuptial agreement, they are governed by the regime of absolute community of property. This means that all the properties and assets acquired by either spouse during the marriage, whether individually or jointly, are considered part of the community property and are owned equally by both spouses. Both spouses have equal rights and responsibilities over the community property, and in case of separation or divorce, the community property will be divided equally between them.

Inheritance refers to the acquisition of private property through hereditary succession, where an individual receives assets or property from a deceased family member or relative. This process is typically governed by laws of inheritance and is a common way for property to be transferred from one generation to another.

Pactum Commissorium refers to a stipulation in a mortgage agreement where the mortgaged property automatically becomes the property of the creditor if the debtor fails to repay the debt within the agreed-upon timeframe. This means that if the debtor defaults on the loan, the creditor has the right to take ownership of the property without going through a separate legal process. This clause provides a strong guarantee for the creditor's security in case of non-payment.

An adverse claim is a notice to a third person that someone is claiming an interest in a property or has a better right than the registered owner. This means that there is a dispute or conflicting claim regarding the ownership or rights to the property. It serves as a warning to potential buyers or anyone dealing with the property that there may be a legal issue or competing interest that needs to be resolved.

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Escheat is the legal right of the state to acquire the property of a decedent who died without a will and without heirs. This allows the state to take ownership of the property and use it for public purposes. Escheat ensures that property does not remain unclaimed or abandoned, and it helps to prevent the accumulation of unused or neglected assets.

The correct answer is "Management of money". Finance is the science that deals with the management of money, including saving, investing, and budgeting. It involves making decisions about how to allocate and use financial resources effectively and efficiently. This includes activities such as financial planning, budgeting, analyzing investments, managing cash flow, and making financial decisions to achieve financial goals.

Adverse possession refers to the legal concept where a person gains ownership of a property by openly and continuously occupying it for a specified period of time, typically without the permission of the true owner. This means that the person physically possesses the land and excludes all other claimants, asserting their ownership rights. Accretion refers to the gradual increase of land through natural forces, while prescription is the acquisition of rights through the passage of time. Therefore, the correct answer is adverse possession.

The correct answer is a systematic, independent and documented verification process of objectively obtaining and evaluating audit evidence to determine whether specified criteria are met. This definition accurately describes a compliance audit as a thorough and structured process that involves gathering and assessing evidence to ensure that an organization is meeting specific criteria or requirements. It emphasizes the importance of objectivity, documentation, and independence in conducting the audit.

The correct answer is "All of the above." This means that all of the mentioned options - accretion, adverse possession or prescription, and private grant or voluntary transfer - are modes of acquiring ownership. Accretion refers to the gradual increase of land through natural causes, such as the deposit of soil by a river. Adverse possession or prescription is the acquisition of property by occupying it openly and without permission for a certain period of time. Private grant or voluntary transfer involves the transfer of ownership through a voluntary agreement between parties.

The phrase "save in cases of hereditary succession" in Sec. 7, Art. XII (National Economy and patrimony), Phil. Charter refers to an heir in the Philippine Law on succession and inheritance. This means that the transfer of private land is allowed only in cases where it is passed down through hereditary succession, such as when a person inherits the land from a deceased family member. Other types of transferees, such as the National Government, humanitarian institutions, charitable, religious, and educational institutions, are not included in this specific provision.

Preterition refers to the omission in a testator's will of one or more compulsory heirs in the direct line. This can include heirs who are alive at the time the will is executed or those who are born after the testator's death. The correct answer, "Preterition," accurately describes this concept.

The correct answer is Registry of Deeds. The Registry of Deeds is responsible for maintaining and keeping public records of instruments that affect registered and unregistered land and chattel mortgage. This includes documents such as deeds, mortgages, and other legal instruments that pertain to real estate transactions. The Registry of Deeds serves as a central repository of these records, providing a reliable source of information for individuals and organizations involved in property transactions. The HLURB (Housing and Land Use Regulatory Board) and Land Registration Authority may have related functions, but they do not specifically handle the public repository of records as the Registry of Deeds does.

A perpetual lease is a lease contract that allows the lessee to stay in the premises for an indefinite period of time, as long as they continue to pay the rentals and any increases in rent. This type of lease does not have a specific end date or term, and the lessee can remain in the premises as long as they comply with the payment obligations. It provides the lessee with flexibility and the ability to stay in the premises for as long as they desire, as long as they can afford to do so.

Pactum Non Aliendo is a Latin phrase that translates to "agreement not to alienate." This refers to a stipulation in a mortgage contract that prohibits the owner from transferring or selling the mortgaged property without the lender's consent. This clause is included to protect the lender's interests and ensure that the property remains as collateral until the mortgage is fully paid off.

When there is a judicial separation of property, the court has intervened and ordered the spouses to divide their property. This means that they are legally allowed to sell property to each other as part of the court's decision. In this situation, the normal restriction on selling property to each other does not apply because the court has already determined how the property should be divided.

Probate is the correct answer because it is the legal process through which a will is validated and the assets of a deceased person are distributed according to their wishes. It involves filing the will with the court and proving its validity. This process ensures that the deceased person's estate is settled properly and that their wishes are respected. The other options, Affidavit of Self-Adjudication, Extra-judicial Settlement of Estate, and Administration, do not specifically refer to the process of establishing the validity of a will.

The term "monitor" refers to the act of systematically and repeatedly measuring a parameter in order to track changes or establish the baseline or current conditions. This involves keeping a close watch or observation on the parameter to gather data and ensure that any deviations or trends are identified and understood. The other options, such as "inspect," "supervise," and "direct," do not specifically imply the repeated and systematic measurement aspect that is associated with monitoring.

The correct answer is Statute of Frauds. The Statute of Frauds is a law that requires certain contracts or agreements to be in writing in order to be legally enforceable. This law varies by jurisdiction but typically includes contracts for the sale of land, contracts that cannot be performed within one year, agreements to pay someone else's debt, and contracts for the sale of goods over a certain value. The purpose of the Statute of Frauds is to prevent fraudulent or false claims based on oral agreements.

Ancestral lands refer to the land that is occupied, possessed, and utilized by individuals, families, and clans who are members of Indigenous Peoples. This term specifically highlights the connection between Indigenous Peoples and their land, emphasizing their historical and cultural ties to the territory. It recognizes their traditional rights and acknowledges their longstanding presence and stewardship over the land. "Indigenous Lands" and "Native Lands" may be similar in meaning, but "Ancestral Lands" specifically emphasizes the ancestral connection and historical continuity of Indigenous Peoples to the land.

The characteristics of a mortgage contract include being real, accessory, subsidiary, and unilateral. A real contract refers to a contract that involves the transfer of a real property as collateral. An accessory contract means that the mortgage is dependent on the existence of a principal obligation, such as a loan. A subsidiary contract indicates that the mortgage is a secondary obligation, meaning it is dependent on the primary obligation being fulfilled. Lastly, a unilateral contract implies that only one party, the borrower, is bound by the terms of the contract. Therefore, all of the given characteristics apply to a mortgage contract.

According to the annotation of Section 4, Rule 74 of the Rules of Court, the property of a deceased person, a surviving spouse and children, is subject to the rights of heirs, any person who might have been unduly deprived of his participation in the estate of the deceased, and creditors. However, the parents of the deceased do not have the right to the subject property.

Dacion en Pago, also known as Dation in Payment, refers to the delivery and transmission of ownership of a thing by the debtor to the creditor as a form of payment for the obligation. This means that instead of providing cash or another form of payment, the debtor transfers ownership of a property or asset to the creditor to fulfill their obligation. This method is accepted by the creditor as an equivalent of the performance of the obligation.

The obligations of a lessee include paying the price of the lease, stipulating or making agreements, and paying the expenses for the deed of the lease. These responsibilities are typically outlined in the lease agreement and must be fulfilled by the lessee throughout the duration of the lease contract.

When Mr. Villanueva got married without a marriage settlement, the nature of the property he inherited changed to community property. In community property states, any property acquired during the marriage is considered community property, meaning it is jointly owned by both spouses. Since Mr. Villanueva inherited the land before getting married, it would typically be considered separate property. However, without a marriage settlement specifying otherwise, it becomes community property by default.

The correct answer is Affidavit of Adjudication. When a deceased owner of a land dies intestate (without a will) and there are no debts or obligations, the title to the land can be transferred to the sole heir through an Affidavit of Adjudication. This document is a sworn statement that establishes the heir's right to inherit the property and serves as evidence of the transfer of ownership. It simplifies the process by avoiding the need for a formal probate proceeding.

Juan and the legitimate spouse own the parcel of land because Juan is married and bought the land using conjugal funds. In a marriage, assets acquired during the marriage using joint funds are considered conjugal property and are owned by both spouses. Therefore, both Juan and his legitimate spouse have ownership rights over the land.

The correct answer is "All of the above". This means that all of the mentioned persons (guardian, agents, executors and administrators, public officers and employees) cannot acquire something by purchase due to their fiduciary relationship. Fiduciary relationships involve a high level of trust and responsibility, and these individuals are expected to act in the best interest of others rather than their own personal gain. Therefore, they are restricted from acquiring assets or property through purchase to avoid conflicts of interest or potential abuse of their positions.

When the deceased registered owner is survived as a sole heir, the estate of the former can be transferred to the latter with the execution of a document known as an Affidavit of Adjudication. This document serves as a legal proof of the transfer of ownership from the deceased owner to the sole heir. It is a commonly used method to transfer property or assets when there is no dispute or need for a formal court process.

When foreign ownership exceeds 40%, both options a and b are affected. This means that foreign corporations will lose their capacity to hold private land, and instead, they will be granted temporary rights such as a lease contract.

The donation of a property is void when the donor is donating to his mistress who has been charged and found guilty of adultery. This is because the law generally does not support or enforce contracts or transactions that involve illegal activities or immoral behavior. Adultery is considered a violation of moral values and social norms, and therefore, any donation made to someone involved in such activities would be deemed void.

Legitime refers to the portion of an estate that is reserved by law for the compulsory heirs. Compulsory heirs are individuals who are entitled to inherit a portion of the deceased person's estate, regardless of any provisions made in a will. This reserved property ensures that the compulsory heirs receive their rightful share of the estate, even if the deceased person intended to distribute their assets differently.

A marriage settlement is a contract entered into by the future spouses that determines the matrimonial property regime that will govern during their marriage. This agreement outlines the rights and obligations of each spouse in relation to their property and assets. It may include provisions for the division of property in the event of divorce or death. A marriage settlement allows the spouses to establish their own rules and arrangements regarding their property, rather than relying on default laws.

The Statute of Frauds applies only to executory contracts. This means that it only covers contracts that have not yet been fully performed or completed by both parties involved. Executory contracts are those that still have obligations or actions that need to be fulfilled in the future. The Statute of Frauds typically requires certain types of contracts, such as those involving the sale of land or contracts that cannot be completed within one year, to be in writing in order to be enforceable.

Succession is the correct answer because it refers to the mode of acquisition where the property, rights, and obligations of a person are transferred to another or others after their death. This can happen either through a will, where the person specifies how their assets should be distributed, or by operation of law, where the assets are distributed according to legal rules of inheritance. Inheritance is a part of succession, as it specifically refers to the transfer of property and assets after someone's death. Legacy, on the other hand, refers to something passed down from a previous generation, which can include property but is not limited to it.

A will is a legal document that allows a person to determine how their estate will be distributed after their death. It gives the person control over the disposition of their assets and allows them to specify who will inherit their property. A will can be created with the formalities prescribed by law, ensuring that it is legally binding and enforceable. This explanation fits the given definition of the act described in the question.