Family wealth is a very useful institution that is 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 owners. Family property is that property, where a family resides, which is subject to legal protection, for that specific attribution, preventing its execution for debts subsequent to its registration as such, that is, as family property, except in exceptional cases (taxes and taxes and construction costs).
Family is understood as the entire group of cohabitants, who have 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 in this character. Registration is free and must be presented in general: property title, marriage certificate, birth certificate of children or family book, national identity document and completed form.
Consequences: when registered as a family estate, the property cannot be alienated, nor be the object of legacies or testamentary improvements. For these purposes, the consent of the other spouse is required, except for serious reasons or clear family advantages.
The most important consequence of registering a property in these conditions is that it cannot be seized or executed, except for tax debts or construction costs of 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 that they are not essential for the family’s subsistence. This great advantage of protection has a drawback. Surely you will not be able to guarantee your own debts or those of third parties, because, not being able to seize or execute creditors, you will reject it.
The law establishes who can constitute family assets. Makes an enumeration, any of the spouses in their assets, both spouses in common assets. Or any of the parents in case of separation of assets, for the benefit of the children who are not common. The single parent or the widower over her assets and, finally, any person within the limits in which they can freely dispose of their assets by will or donation. After all, anyone, as long as the legal requirements are met.
sense of belonging
conjugal house
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