What is the meaning of the annotation?

by Prime Radar Team  April 28, 2014

This annotation means that the property is an inherited property and any heir deprived of his lawful participation in the estate has two (2) years after settlement and distribution of estate to assert and claim his rights over the said property. If the lawful participation of the heir is payable in money, the court of competent jurisdiction after hearing may, by its order, settle the lawful participation and order how much and in what manner each distributee shall contribute in the payment to satisfy the claim. If so necessitate and if the circumstances would require, the court may issue execution against the bond provided or against the real estate belonging to the deceased, or both. (The bond and such real estate shall remain charged to settle the liability to creditors, heirs, or other persons for a period of two (2) years after the settlement and distribution of estate, notwithstanding any transfers of real estate that transpired.)

Hope you’ve learned valuable insights. For any questions or concerns, we would be glad to hear from you. You may reach us through our mobile number (+63)917-555-8-222, or direct line (02)442-6362, or email us at [email protected]

Tags