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June 1, 2022

Business Law and Labor Law Updates

The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.


FORECLOSURE OF A REAL ESTATE MORTGAGE (REM)


  • Real Estate Mortgage may be foreclosed by filing a complaint in court

  • Real Estate Mortgage may be foreclosed without filing a complaint

  • A mortgagor or debtor may redeem his or her property

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RIGHTS OF A CONDOMINIUM UNIT OWNER


  • A condominium unit owner has an absolute ownership over his unit

  • A condominium unit owner is a co-owner of land and common areas

  • The air space above the condominium unit is not a common area

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WHO ARE CAPACITATED TO MAKE A WILL?


  • The person who makes a will is called Testator

  • Persons under eighteen (18) years of age CAN NOT make a will

  • The testator must be of sound mind at the time he or she made his or her will

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The Conjugal Partnership of Gains


Previously, before the Family Code, or before 03 August 1988, the default property regime of spouses is Conjugal Partnership of Gains. However, at present, spouses may only opt to have the regime of Conjugal Partnership of Gains govern their property relations if the same was stipulated in their antenuptial agreement.

 

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