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Form 7 - ANTE-NUPTIAL PROPERTY AGREEMENT PDF
Form 7 - ANTE-NUPTIAL PROPERTY AGREEMENT PDF
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WITNESSETH: That
WHEREAS, the Parties wish to enter into this Agreement to provide for the
status, ownership and division of property between them, including future
property owned or to be acquired by either or both of them.
WHEREAS, the Parties further wish to affix their respective rights and
liabilities that may result from this relationship.
WHEREAS, the Parties acknowledge that they have been provided with a
reasonable period of time to review this Agreement.
WHEREAS, the Parties also acknowledge that they had the opportunity to
retain their own lawyer and to receive independent legal advice regarding the
terms of this Agreement.
WHEREAS, the Parties have disclosed to their satisfaction all assets and
liabilities that each may have and voluntarily and expressly waive any other
rights to disclosure of the property or financial obligations of each other beyond
the discloser provided.
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3. Prior to execution of the Agreement, both Parties were provided a fair
and reasonable disclosure or financial obligations of the other Party.
4. They have, or reasonably could have had, an adequate knowledge of
the property of financial obligations of the other Party, and
5. They entered into this Agreement freely and under no duress or
undue influence on their decision by the other Party.
SECTION 1
INTENT OF PARTIES
(a) Setting Forth Property Rights. The parties hereto have the intent
and desire to define and set forth the respective rights of each in their respective
properties and in the properties of the other after their marriage.
(b) Support of Prospective Wife and Children. The First Party intends
and desires to provide adequately and fairly for the Second Party, and their
future common children, if any.
(c) Separate Property. The parties intend and desire that all the
property owned respectively by each of them at the time of their marriage, and
all property that may be acquired by each of them from any source during their
marriage, shall be respectively their separate property.
SECTION 2
STATUS OF PROPERTY
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(d) Fruits of Separate Property. All fruits, whether natural, industrial
or civil, accruing to the separate property of a party shall remain the separate
property of the party to whom the property belongs. Each party shall receive
all moneys, rents, issues, and profits thereof, without interference from the
other.
(e) Future Earnings of a Party. All earnings of the First Party and the
Second Party respectively earned on or after the date of execution of this
agreement and arising from any and all sources, contingent or otherwise, and
all income and profits from the investment or use of such earnings from the
personal activities, ability, or capacity of either person, and regardless of which
party controls and manages such earnings, shall be the separate property of the
person so earning or investing such income.
SECTION 3
MANAGEMENT AND SEPARATE PROPERTY
(a) Each party shall have full power and separate control of his or her
property, both real and personal. He or she shall own, possess, use, invest,
administer and enjoy his or her own separate estate, without need of consent of
the other, and without any control by or accounting to the other.
(b) Each party shall also have the right and power to execute any contract
with a third party that he or she requires to effectively manage and control his or
her property.
SECTION 4
RIGHT TO DISPOSE OF SEPARATE PROPERTY
Each party shall have the right to sell, lease, encumber, transfer, mortgage,
pledge, or otherwise dispose of his or her own separate property, without need
of consent of the other.
SECTION 5
LIABILITY FOR DEBTS
The debts contracted by each party hereto prior to or during the marriage
are to be paid by the party who shall have contracted the same, and the property
of the other party shall not in any respect be liable for payment thereof.
Any Separate Debt owed by a Party will be and remain the debt of that
Party and the other Party will have no financial obligations owing with respect to
that debt.
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In the event of a separation, or upon the death of a Party, all Shared Debt
will be deemed to be owed equally and each Party will be financially responsible
for 50% of any jointly acquired or jointly held debt, regardless of the initial of
ongoing properties of each Party’s borrowed amount, unless the Parties have
agreed otherwise in writing.
SECTION 6
MAINTENANCE AND SUPPORT
(a) The First Party shall provide a home and reasonable support for the
care, maintenance, and education of the Second Party and their future children.
(b) The First Party shall also be responsible for the payment of
household expenses, including, but not limited to:
(i) food;
(ii) medical attendance of the members of the family;
(iii) clothing;
(iv) electric, telephone and water bills;
(v) salaries of household employees; and
(vi) repair, maintenance and improvement of the family
dwelling.
SECTION 7
LIMITATION OF MARITAL RIGHTS
(a) The Second Party shall not, either during the lifetime of the First
Party or after his death, should his death occur before hers, take, claim, or
demand any right in any property that the First Party might own, during his
lifetime, or at the time of his death. She hereby warrants that so far as the
property rights of each of the parties to this contract and contemplated marriage
are concerned, the same shall be and remain absolutely and forever as they are
now under the laws of the Philippines or any other state, separate.
(b) The First Party, in consideration that the Second Party will become
his Second Party, shall not claim any right, title or interest in or to any property,
of any kind or character, which is now owned by the Second Party, either during
her lifetime, or on her death, should such death occur before his. He shall not
take claim, or demand any right whatsoever in any property which the Second
Party might own, but that she shall retain her properties free and clear from any
right or interest that he might acquire by reason of his becoming her First Party,
with full power and authority to sell, convey, encumber, or dispose of her
property, by will or otherwise, as she may be deem proper.
SECTION 8
RELEASE OF MARITAL RIGHTS
Each party shall have no rights or interest in the separate property of the
other, and each hereby waives and releases all marital property rights in the
other's estate that he or she might otherwise have or obtain.
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SECTION 9
TRANSFER OF PROPERTY BETWEEN SPOUSES
(b) Either the First Party or the Second Party may make moderate gifts
to each other on the occasion of any family rejoicing, and that gift shall become
the separate property of the donee spouse.
SECTION 10
EXECUTION OF INSTRUMENTS
SECTION 11
EFFECTIVE DATE
This agreement shall take effect on the date the marriage contemplated by
the parties has been solemnized.
SECTION 12
SCOPE OF AGREEMENT
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REPUBLIC OF THE PHILIPPINES )
ANGELES CITY ) S.S.
ACKNOWLEDGMENT
BEFORE ME, this 17th day of February, 2020, for and in the above
jurisdiction, personally appeared:
WITNESS MY HAND AND SEAL on the date and at the place first
written above.
Doc. No.: 7
Page No.: 3
Book No.: I
Series of 2020.