Title V — The Family
Article 157
ELI5— what this means for you
The value of the family home for the purpose of the exemption is fixed by law (and periodically updated). The protection applies only up to the value ceiling set by the Civil Code. Under the Family Code era, the ceiling was P300,000 in urban areas and P200,000 in rural areas (these amounts have since been updated by other laws).
Official text — EO 209
The actual value of the family home shall not exceed, at the time of its constitution, the amount of the three hundred thousand pesos in urban areas, and two hundred thousand pesos in rural areas, or such amounts as may hereafter be fixed by law.
In any event, if the value of the currency changes after the adoption of this Code, the value most favorable for the constitution of a family home shall be the basis of evaluation.
For purposes of this Article, urban areas are deemed to include chartered cities and municipalities whose annual income at least equals that legally required for chartered cities. All others are deemed to be rural areas. (231a)
Source: lawphil.net (EO 209 as amended)
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Legal disclaimer: BatasKo provides general legal information, not legal advice. For advice on marriage, annulment, property relations, custody, or support, consult a licensed Filipino lawyer or the Public Attorney's Office (PAO) at pao.gov.ph.