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TAX > Property Relations > Flashcards

Property Relations Flashcards

1
Q

Under the regime of absolute community of property, the husband and the wife place in a common fund the proceeds, products, fruits, and income from their separate property and those acquired by either or both spouses through their efforts or by chance. T or F?

A

FALSE.

The statement is also applicable to CPG

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2
Q

The gross estate of a married decedent under the system of conjugal partnership of gains during the marriage is a mixture of exclusive property and conjugal property. T or F?

A

TRUE.

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3
Q

The inclusion of claims against insolvent person in the gross estate of the decedent spouse as either exclusive or communal property will depend on the nature of the claim–whether it is for an exclusive use or for a communal property. T or F?

A

TRUE

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4
Q

Under the conjugal partnership of gains regime, the spouses become co-owners of all property they bring into the marriage and those acquired by each or both of them during marriage. T or F?

A

FALSE.

Under CPG, property brought into marriage is classified as exclusive property.

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5
Q

The share of the surviving spouse in the estate shall be deducted equal to 1/2 of the gross conjugal property. T or F?

A

FALSE.

The share of the surviving spouse in the estate shall be deducted equal to 1/2 of the net conjugal property

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6
Q

Properties acquired by gratuitous title during the marriage are generally classified as conjugal partnership of gains. T or F?

A

FALSE

Properties acquired by gratuitous title during the marriage are generally classified as exclusive properties.

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7
Q

Property inherited before the marriage becomes community property upon marriage. T or F?

A

TRUE

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8
Q

In the property relationship of absolute community, the spouses are co-owners of community properties. T or F?

A

TRUE

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9
Q

Modifications in the marriage settlements or prenuptial agreements may be made anytime during the marriage. T or F?

A

FALSE

Modifications in the marriage settlements or prenuptial agreements may be made anytime BEFORE the marriage

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10
Q

Under the system of absolute community of property, the vanishing deduction is a charge against community property. T or F?

A

FALSE

Under the system of absolute community of property, the vanishing deduction is a charge against either exclusive or community property

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11
Q

Under the system of conjugal partnership of gains, the vanishing deduction is a charge against exclusive property. T or F?

A

TRUE

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12
Q

Spouses shall be governed by complete separation of property regime if the future spouses agree in the marriage settlements that their property relations during the marriage shall be governed by the regime of separation of property. T or F?

A

TRUE

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13
Q

Under absolute community of property regime, property acquired during marriage by gratuitous title by a spouse, and the fruits as well as the income thereof are the property of such spouse. T or F?

A

TRUE

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14
Q

Under conjugal partnership of gains, property for personal and exclusive use of either spouse is considered as exclusive property, except jewelry. T or F?

A

FALSE

Under Absolute Community of Property, property for personal and exclusive use of either spouse is considered as exclusive property, except jewelry.

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15
Q

Under the law, the property relationship between husband and wife shall be governed in what order?
I. By marriage settlements executed before the marriage
II. By the provisions of law
III. By ht elocal custom

A

I, II, III

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16
Q

In the absence of a marriage settlement, or when the regime agreed upon is void, the property relations of the spouses who married before August 3, 1988, shall be governed by:

a. Absolute community of property
b. Conjugal partnership of gains
c. Absolute separation of properties
d. No property relations

A

Conjugal partnership of gain

17
Q

In the absence of a marriage settlement, or when the regime agreed upon was void, the property relations of the spouses who were married on or after August 3, 1988, would be:

a. Absolute community of property
b. Conjugal partnership of gains
c. Absolute separation of properties
d. No property relations

A

Absolute community of property

18
Q

Properties owned by the spouses before and brought into the marriage will be classified as __________________________ under absolute community and __________________________ under conjugal partnership

a. Community
b. Exclusive
c. Conjugal

A

Community under absolute community
Exclusive under conjugal partnership

19
Q

The fruits from exclusive property of each spouse due or received during the marriage are classified as __________________________ under absolute community and __________________________ under conjugal partnership

a. Community
b. Exclusive
c. Conjugal

A

Exclusive under absolute community
Conjugal under conjugal partnership

20
Q

Under the system of absolute community, the following are not exclusive property, except:

a. Rental income on a property acquired before marriage
b. Property from which the rental income in “a” was derived
c. Receivable arising from lending of funds inherited before marriage
d. Property owned before marriage for personal and exclusive use of the decedent when he was still alive

A

Property owned before marriage for personal and exclusive use of the decedent when he was still alive

21
Q

Under absolute community of property, which of the following is a community property?

a. Property inherited by the surviving spouse during the marriage
b. Property bought during the marriage using the salary of the decedent earned before marriage
c. Personal belongings bought during the marriage for the exclusive use of the decedent
d. None of the above

A

Property bought during the marriage using the salary of the decedent earned before marriage

22
Q

Which of the following is exclusive property under the system of conjugal partnership of gains?

a. Property before marriage
b. Inheritance during marriage
c. Property acquired during marriage out of exclusive money
d. All of the above

A

All of the above

a. Property before marriage
b. Inheritance during marriage
c. Property acquired during marriage out of exclusive money

23
Q

Which is not an exclusive property of a spouse?

a. That which is brought to the marriage as his or her own
b. That which each acquired during the marriage by gratuitous title
c. That which is acquired by right of redemption
d. That which is purchased with the spouses’ common fund

A

That which is purchased with the spouses’ common fund

24
Q

Which of the following distinguishes conjugal property from community property?

a. Properties inherited during marriage
b. Those acquired through occupation during marriage
c. Fruits of exclusive property
d. Income earned by each spouse during marriage

A

Fruits of exclusive property

25
Q

The gross estate of a decedent who was married at the time of death will be composed of:

a. His capital property, his wife’s paraphernal property, and the common property
b. His capital property and the common property
c. Common property
d. His capital property

A

His capital property and the common property

26
Q

Statement 1: Under the regime of absolute community of property, property acquired during the marriage is presumed to belong to the community, unless it is proved that it is one of those excluded therefrom
Statement 2: Under the system of conjugal partnership of gains upon dissolution of the marriage or of the partnership, the net gains or benefits obtained by either or both spouses shall be divided equally between them

Which of the following is correct?

A

Statements 1 and 2 are true

27
Q

Statement 1: Under the system of absolute community of property, vanishing deduction is a charge against community property
Statement 2: Under a system of conjugal partnership of gains, the vanishing deduction is a charge against exclusive property,

Which of the following is correct?

A

Statement 1 is true
Statement 2 is false

28
Q

Which of the following rules shall apply when a man and woman who are capacitated to marry each other, live exclusively with each other as husband and wife without the benefit of marriage or under a void marriage.

a. Wages and salaries shall be owned by them in equal shares
b. Property acquired by both of them through their work or industry shall be governed by the rules on co-ownership
c. Neither party can encumber or dispose by act inter-vivos his or her share in the property acquired during cohabitation and owned in common, without the consent of the other, until after the termination of their cohabitation.
d. All of the above

A

All of the above

a. Wages and salaries shall be owned by them in equal shares
b. Property acquired by both of them through their work or industry shall be governed by the rules on co-ownership
c. Neither party can encumber or dispose by act inter-vivos his or her share in the property acquired during cohabitation and owned in common, without the consent of the other, until after the termination of their cohabitation.

29
Q

The following are required to be listed as part of the gross estate, but are exempted from estate tax, except

a. Share of surviving spouse
b. Transfer for public use
c. Exclusive property of the decedent
d. Amount received by heirs under RA 4917

A

Exclusive property of the decedent

30
Q

All of the following items are allowed as deductions against exclusive portion of the estate, except:

a. Unpaid taxes
b. Claims against insolvent persons
c. Vanishing deduction
d. Family home

A

Family home

31
Q

The following are exclusive property of each spouse. Which one is not?

a. That which each acquires during the marriage by lucrative title
b. That which is purchased with the exclusive money of either spouse
c. That which is acquired by exchange with other property belonging to the spouses
d. That which is brought to the marriage as his or her own

A

That which is acquired by exchange with other property belonging to the spouses

32
Q

Net share of surviving spouse equals

a. Gross conjugal property less changes against conjugal property
b. Net conjugal property multiplied by two
c. Net conjugal property divided by two
d. None of the above

A

Net conjugal property divided by two

TAX (10 decks)

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