Marriage Settlements: What You Need to Know Before Saying ‘I Do’

Q: If I want to execute a pre-nup with my soon-to-be spouse, what should I need to know?

A: 

The different property regimes of a marriage are as follows:

1. Absolute Community of Property (ACP)
2. Conjugal Partnership of Gains (CPG)
3. Complete Separation of Property (CSP), or
4. Any other regime

The rule under Article 75  of the Family Code is that the future spouses may, in the marriage settlement, agree upon the above-mentioned property regimes. ACP governs in the absence of a marriage settlement or when the regime agreed upon is void, provided the marriage has been celebrated during the effectivity of the Family Code. Otherwise, conjugal partnership of gains governs the marriage in the absence of marriage settlements, as held in Alexander v. Spouses Jorge.

As such, for there to be a valid marriage settlement, the following requisites must be present:

1. must be in writing
2. must be signed by the parties
3. must be executed before the celebration of marriage
4. must be registered in the local civil registry where the marriage contract is recorded as well as in the proper registries of properties

As a general rule, Philippine laws govern the property relations of the spouses, regardless of the place of the celebration of the marriage and their residence. The exceptions however are as follows:

1. Where both spouses are aliens;
2. With respect to the extrinsic validity of contracts affecting property not situated in the Philippines and executed in the country where the property is located; and
3. With respect to the extrinsic validity of contracts entered into in the Philippines but affecting property situated in a foreign country whose laws require different formalities for its extrinsic validity

Got questions about marriage settlements or pre-nuptial agreements? Contact us today at info@baisandanlaw.com. You can also reach us via cellphone number at 0915 968 2503 or at our telephone number (045) 281 0164.