What You Need to Know About Inheritance
Atty. Tricia Villar discusses what you need to know about dividing properties
Have you inherited a property from your parents? Read this as guide about the ins and outs of dealing with inherited property.
1. Do we have to go to court to divide properties left by our deceased mother?
"If your mother left no will and no debts, and all heirs are 18 years old and above, you may divide or distribute properties among yourselves by means of duly notarized, out of court settlement of the estate filed before the Register of Deeds. This, however, does not preclude creditors of your deceased mother and her heirs who were excluded from claiming their rights over the said properties. Creditors must first be paid from the properties left by the deceased before these are distributed among the heirs."
2. My mother, two sisters, and I were left with a 400sqm land by my father. How do we divide the property among ourselves?
"Assuming that your father left no will, and the three of you are his legitimate children, according to the law, the land should be divided as follows: Your mother gets one half of the land as her conjugal share. The remaining half should be divided equally among the four of you (including your mother). Under the law, if a widow or widower and legitimate children are left, the surviving spouse gets the same share as each child."
Read the original article (“Inheritance Matters") in the April 2005 issue of Real Living Magazine. Download your digital copy of Real Living on the Real Living App. Log on to summitnewsstand.com.ph/real-living for more details.
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