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    Conjugal Partnership of Gains and Absolute Community of Property

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    Rence Santos Dabu
    The document discusses two property regimes in marriage - conjugal partnership of gains and absolute community of property. Under conjugal partnership of gains, proceeds from separate and jointly acquired properties are placed in a common fund. Absolute community considers all property owned at marriage or after to belong to the community. For both regimes, the gross estate includes exclusive property of the deceased spouse and either the conjugal property (for partnership of gains) or absolute community property. Exclusive properties differ between the two regimes, as do some deductions allowed from the gross estate, including treatment of the family home and standard deduction.

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    Conjugal Partnership of Gains and Absolute Community of Property

    Uploaded by

    Rence Santos Dabu
    93 views1 page
    The document discusses two property regimes in marriage - conjugal partnership of gains and absolute community of property. Under conjugal partnership of gains, proceeds from separate and jointly acquired properties are placed in a common fund. Absolute community considers all property owned at marriage or after to belong to the community. For both regimes, the gross estate includes exclusive property of the deceased spouse and either the conjugal property (for partnership of gains) or absolute community property. Exclusive properties differ between the two regimes, as do some deductions allowed from the gross estate, including treatment of the family home and standard deduction.

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    The document discusses two property regimes in marriage - conjugal partnership of gains and absolute community of property. Under conjugal partnership of gains, proceeds from separate and jointly acquired properties are placed in a common fund. Absolute community considers all property owned at marriage or after to belong to the community. For both regimes, the gross estate includes exclusive property of the deceased spouse and either the conjugal property (for partnership of gains) or absolute community property. Exclusive properties differ between the two regimes, as do some deductions allowed from the gross estate, including treatment of the family home and standard deduction.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    93 views1 page

    Conjugal Partnership of Gains and Absolute Community of Property

    Uploaded by

    Rence Santos Dabu
    The document discusses two property regimes in marriage - conjugal partnership of gains and absolute community of property. Under conjugal partnership of gains, proceeds from separate and jointly acquired properties are placed in a common fund. Absolute community considers all property owned at marriage or after to belong to the community. For both regimes, the gross estate includes exclusive property of the deceased spouse and either the conjugal property (for partnership of gains) or absolute community property. Exclusive properties differ between the two regimes, as do some deductions allowed from the gross estate, including treatment of the family home and standard deduction.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Conjugal Partnership of Gains and Absolute Community of Property

    Meaning
    Conjugal Partnership of gains, in case the future spouses agree in the marriage settlements that the regime
    of conjugal partnership of gains shall govern their property relations during marriage, there are provisions in the
    Family Code that shall apply. Under the regime of conjugal partnership of gains, the husband and wife place in a
    common fund the proceeds, products, fruits and income from their separate property and those acquired by either
    or both spouses through efforts or by a chance While in the Absolute Community of Property, unless otherwise
    provided in the Family Code or in the marriage settlements, the communal property shall consists of all the property
    owned by the spouses at the time of the celebration of the marriage or acquired thereafter. Property acquired during
    the marriage is presumed to belong to the community, unless it is provided that it is one of those excluded therefrom.
    Gross Estate
    In conjugal partnership of gains, the gross estate of married decent under the system of conjugal partnership of
    gains during the marriage shall be composed of the following: (1) Exclusive property of the decent; and (2) conjugal
    property. And on the other hand, the absolute community, the gross estate consist of (1) Exclusive property of the
    decent; and (2) Absolute community (communal) property.
    Exclusive Property of Each Spouse
    Conjugal Partnership of Gains
    The following shall be exclusive property of spouse:
    1. That which is brought to the marriage as his or her own;
    2. That which is acquired during the marriage by gratuitous tittle;
    3. That which is acquired by right of redemption, by barter or by exchange with property belonging to the
    only one of the spouses; and
    4. That which is purchased with the exclusive money of the wife or of the husband.
    Absolute Community of Property
    The following shall be exclusive property of spouse:
    1. Property acquired during the marriage by gratuitous title by either spouse, and the fruits as well as the
    income thereof, if any, unless it is expressly provided by the donor, testator or grantor that they shall form
    part of the communal property.
    2. Property for personal and exclusive use of either spouse; however, jewelry shall form apart of communal
    property; and
    3. Property acquired before the marriage by either spouse who has legitimate descendants by a former
    marriage, and the fruits as well as the income, if any, of such property
    Deductions
    Deductions from Gross Estate
    Conjugal Partnership of Gains and Absolute Community of Property
    1. Expenses, losses, Indebtedness, and Taxes
    2. Property Previously taxed or Vanishing Deductions
    3. Transfer of Public Use
    4. Family Home. (Must part of the Conjugal Partnership of Property)
    5. Standard Deduction
    6. Medical Expenses
    7. Amount Received by heirs under Republic Act 4917
    8. One half net share of the surviving spouse in conjugal partnership of property.
    Special Deduction
    In conjugal partnership of gains, the following presentations of Family Home (FH), Standard Deduction
    (SD) and Medical expenses (ME) as deductions from gross estate are consistent with Rev. Regs. 2-2003. The
    regulations classify deductions into two, ordinary and special. While in absolute community, the Family Home
    (FH) and Standard Deduction (SD) as deductions from gross estate are consistent with Rev. Regs. 2-2003. The
    regulations classify deductions into two, ordinary and special.

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