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The Civil Code of the Philippines is the product of the codification of private law in the Philippines. It is the general law that governs family and property relations in the Philippines. It was enacted in 1950, and remains in force to date with some significant amendments. [citation needed]
Usucaption (Latin: usucapio), also known as acquisitive prescription, [1] [2] is a concept found in civil law systems [3] and has its origin in the Roman law of property. Usucaption is a method by which ownership of property (i.e. title to the property) can be gained by possession of it beyond the lapse of a certain period of time (acquiescence).
Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.
The taxes imposed by the Code include a graduated income tax on all income earned by natural and juridical persons within the Philippines, a capital gains tax, excise tax on certain products, a Donor's Tax, an estate tax, and a value-added tax on the sale of most goods and services in the Philippines. Real property taxes are considered as local ...
The "first possession" theory of property holds that ownership of something is justified simply by someone seizing it before someone else does. [1] This contrasts with the labor theory of property where something may become property only by applying productive labor to it, i.e. by making something out of the materials of nature.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Usufruct (/ ˈ j uː z j uː f r ʌ k t /) [1] is a limited real right (or in rem right) found in civil law and mixed jurisdictions that unites the two property interests of usus and fructus: Usus (use, as in usage of or access to) is the right to use or enjoy a thing possessed, directly and without altering it.
This word has the same meaning in the modern Spanish judicial system. [6] fiscal [2] prosecutor Spanish A prosecutor, either at the city or provincial level, or nationwide Department of Justice level. Cf. procurator fiscal. G.R. N/A: English Abbreviation for General Register. See Case citation § Philippines. IBP N/A: English