Chap 1 - Succession and Transfer Taxes

Question 1

taxes imposed upon gratuitous disposition of private properties or rights

Answer 1

Transfer Taxes

Question 2

is the one that neither imposes burden nor requires consideration from transferee or recipient

Answer 2

Gratuitous Transfer

Question 3

Ownership may be acquired through

Answer 3

1. Occupation
2. Intellectual Creation
3. Law
4. Donation
5. Tradition
6. Contract
7. Prescription
8. Succession

Question 4

Succession acquires you what?

Answer 4

1. Property
2. Rights
3. Obligations

Question 5

Obligations absorbed are only to the extent of?

Answer 5

the value of inheritance

Question 6

Kinds of succession

Answer 6

1. Testamentary or testate succession
2. Legal or intestate succession
3. Mixed succession

Question 7

A type of succession that results from the designation of an heir, made in a will executed in the form prescribed by law

Answer 7

Testamentary or testate succession

Question 8

A type of succession which is effected by operations of law (based on the provisions of the civil code pertaining to succession) since the decedent did not execute a will or if the last will and testament executed by him is void

Answer 8

Legal or intestate succession

Question 9

A type of succession which is effected partly by will and partly by operation of law

Answer 9

Mixed succession

Question 10

Elements of Succession

Answer 10

1. Decedent
2. Inheritance (Estate)
3. Successor

Question 11

those who succeed by force of law to some portion of the inheritance, in an amount predetermined by law, known as the legitime. They succeed whether the testator likes it or not. They cannot be deprived by the testator of the legitime except by disinheritance properly effected

Answer 11

Compulsory Heirs

Question 12

(What kind of heir?) Legitimate Children and their descendants

Answer 12

Primary compulsory heirs

Question 13

(What kind of heir?) legitimate parents and ascendants

Answer 13

Secondary compulsory heirs

Question 14

(What kind of heir?) Illegitimate children and descendants and surviving spouse

Answer 14

Concurring compulsory heirs

Question 15

those instituted by the testator in his will to succeed to the inheritance of the portion thereof of which the testator can freely dispose.

Answer 15

Voluntary Heirs

Question 16

refers to the portion or value left in the estate after deducting the legitime of the compulsory heirs

Answer 16

Free portion

Question 17

Those who succeed to the estate of the decedent by operation of law (decedent died without a valid will or his estate was not entirely disposed of by will)

Answer 17

Legal or intestate heirs

Question 18

is a part of a testator’s property which he cannot dispose of because the law has reserved it for certain heirs who are, therefore, called compulsory heirs

Answer 18

Legitime

Question 19

Order of intestate succession for distribution of free portion

Answer 19

1. Legitime children or descendants
2. Legitimate parents or ascendants
3. Illegitimate children or descendants
4. Surviving Spouse
5. Brothers and sisters, nephews and nieces
6. Other collateral relatives within the 5th degree
7. State or the government

Question 20

is the relation of persons descending from the same stock or common ancestors

Answer 20

Consanguinity

Question 21

is the which subsists between persons of whom one is descended in a direct line from the other

Answer 21

Lineal Consanguinity

Question 22

is that which subsists between persons who have the same ancestors, but who not descend (or ascend) one from the other.

Answer 22

Collateral consanguinity

Question 23

Legitime portion of a legitimate children

Answer 23

1/2 of the estate divided by number of legitimate children

Question 24

Legitime portion of Surviving Spouse when there are other compulsory heirs

Answer 24

Equal to 1 children, but will adjust to 1/4 if there is only one children to maintain the 25% free portion

Question 25

Legitime Share of an Illegitimate Children on an estate with legitimate children

Answer 25

1/2 of the share of 1 legitimate children

Question 26

Legitime Share of an illegitimate children only

Answer 26

1/2 of the estate divided equally among the ICs

Question 27

Legitime Share of Legitimate parent or ascendants

Answer 27

1/2 only when there's no legitimate children

Question 28

Legitime Share of surviving spouse when there are no compulsory heirs

Answer 28

1/2, only 1/3 if deceased spouse dies within 3 months after the marriage

Question 29

Legitime Share of surviving spouse and illegitimate child

Answer 29

Both gets 1/3

Question 30

is an act whereby a person is permitted, with the formalities prescribed by law, to control a certain degree the disposition of his estate to take effect after his death

Answer 30

Will

Question 31

is a will which is executed in accordance with the formalities prescribed by Art. 804 to 808 in the New Civil Code

Answer 31

Notarial or Ordinary or Attested Will

Question 32

Requisites for a Valid Notarial Will

Answer 32

1. It must be in writing and executed in a language or dialect known to the testator 2. It must be subscribed at the end thereof by the testator himself or presence and by the testator's name written by some other person in his presence and by his express direction 3. It must be attested and subscribed by three or more credible witnesses in the presence of the testator and of one another

Question 33

is a written will which must be entirely written, dated and signed by the hand of the testator himself. It subject to no other form and it may be made in or out of the Philippines and need not be witnessed.

Answer 33

Holographic Will

Question 34

Modes of revoking a will

Answer 34

1. By implication of law 2. By some will, codicil. or other writing executed as provided in case of wills 3. By burning, tearing, cancelling, or obliterating the will with the intention of revoking it, by the testator himself, or by some other person in his presence, and by his express direction

Question 35

is a testamentary disposition by which a compulsory heir is deprived of, or excluded from the inheritance to which he has a right

Answer 35

Disinheritance

Question 36

Requisites for disinheritance

Answer 36

1. Effected only through a valid will 2. For a cause expressly stated by law 3. Cause must be stated in the will itself 4. Cause must be certain and true 5. Unconditional 6. Total 7. The heir disinherited must be designated in such a manner that here can be no doubt as to his identity

Question 37

Right created by fiction of law where the representative is raised to the place and degree of the person represented, and acquires the rights which the latter would have if he were living or could have inherited

Answer 37

Right or representation

Question 38

Representation may arise because of

Answer 38

1. Death 2. Incapacity 3. Disinheritance

Question 39

Representation is not available to

Answer 39

1. If a compulsory heir, repudiates her right 2. Predecease the testator; or renounce the inheritance cannot be represented by their own heirs, with respect to their supposed inheritance