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properties exempt from execution

properties exempt from execution

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Published by Louise Tampoc

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Published by: Louise Tampoc on Apr 06, 2011
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com/law-library/civil-law/obligationsand-contracts/826-concurrence-and-preference-of-creditsarticles-2236-2251.html AS A RULE, A DEBTOR IS LIABLE WITH ALL HIS PROPERTY, PRESENT AND FUTURE, FOR THE FULFILLMENT OF HIS OBLIGATIONS EXEMPT PROPERTY 1. Present property-Articles 152, 155, 205(Family Code); Section 13 Rule 39 of the Rules of Court; Section 118 of CA 141 2. Future property—those related to the insolvency of a debtor 3. Property in custodia legis and of public dominion

Art. 152. The family home, constituted jointly by the husband and the wife or by an unmarried head of a family, is the dwelling house where they and their family reside, and the land on which it is situated. Art. 155. The family home shall be exempt from execution, forced sale or attachment except: (1) For nonpayment of taxes; (2) For debts incurred prior to the constitution of the family home; (3) For debts secured by mortgages on the premises before or after such constitution; and (4) For debts due to laborers, mechanics, architects, builders, materialmen and others who have rendered service or furnished material for the construction of the building. Art. 205. The right to receive support under this Title as well as any money or property obtained as such support shall not be levied upon on attachment or execution. Sec. 13. Property exempt from execution. Except as otherwise expressly provided by law, the following property, and no other, shall be exempt from execution: (a) The judgment obligor's family home as provided by law, or the homestead in which he resides, and land necessarily used

dentists. engineers. or annuities accruing or in any manner growing out of any life insurance. (k) Monies benefits.in connection therewith. such as the judgment obligor may select. (e) Household furniture and utensils necessary for housekeeping. and other professionals. (l) The right to receive legal support. surveyors. pharmacists. or money or property obtained as such support. . But no article or species of property mentioned in his section shall be exempt from execution issued upon a judgment recovered for its price or upon a judgment of foreclosure of a mortgage thereon. or three carabaos. excluding jewelry. (m) Properties specially exempt by law. lawyers. (c) Three horses. (i) So much of the salaries. employment. not exceeding three hundred thousand pesos in value. or other beasts of burden such as the judgment obligor may select necessarily used by him in his ordinary occupation. or livelihood. privileges. (g) The professional libraries and equipment of judges. (b) Ordinary tools and implements personally used by him in his trade. (h) One fishing boat and accessories not exceeding the total value of one hundred thousand pesos owned by a fisherman and by the lawful use of which he earns his livelihood. teachers. or three cows. physicians. clergymen. and used for that purpose by the judgment obligor and his family. or any pension or gratuity from the Government. (j) Lettered gravestones. or earnings of the judgment obligor of his personal services within the four months preceding the levy as are necessary for the support of his family. of a value not exceeding one hundred thousand pesos. (d) His necessary clothing and articles for ordinary personal use. (f) Provisions for individual or family use sufficient for four months. wages.

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