What is good family

The family patrimony is a very useful institution and little used by those who can benefit from it. It consists of assets that enjoy special protection for the beneficiaries of the family in favor of their holders. Family property is that property, where a family resides, which is subject to legal protection, for that particular allocation, preventing its execution for debts subsequent to its registration as such, that is, as family property, except in exceptional cases (taxes and building taxes and construction costs).

A family is understood to be the entire cohabiting group, which has the status of spouse, ascendant, descendant or collateral up to the third degree (uncles and nephews) of those who constitute the family patrimony. The effects occur after registration in the registry. If an owner has many properties, only one can be listed on this character. Registration is free of charge and must be presented in general: property title, marriage certificate, children’s birth certificate or family book, national identity document and completed form.

Consequences: when registered as a family asset, the property cannot be alienated, nor be subject to legacies or testamentary improvements. For this purpose, the consent of the other spouse is required, except for serious reasons or obvious family benefits.

The most important consequence of registering a property under these conditions is that it cannot be seized or foreclosed, except for tax debts or construction expenses for that property, provided that the debts are subsequent to its registration as family property. What can be seized is 50% of what was acquired, provided they are not essential for the family’s subsistence. This big advantage of protection has a downside. Surely you will not be able to guarantee your own debts or third parties, because, by not being able to seize or execute creditors, you will reject him.

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The law stipulates who can constitute family property. Makes an enumeration, any of the spouses in their property, both spouses in common property. Or either of the parents in case of separation of property, for the benefit of children who are not common. The single parent or widower on their property and, finally, any person within the limits in which they can freely dispose of their property by will or gift. After all, anyone, as long as the legal requirements are met.

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