How may an estate be settled?
The estate may be settled judicially or through the aid of courts or extra-judicially or only among the parties concerned.
What are the requirements for a valid extra-judicial settlement of estate?
- The decedent left no will.
- The decedent left no debts, or if there were debts left, all had been paid.
- The heirs are all of legal age, or if they are minors, the latter are represented by their judicial guardian or legal representatives;
- The partition was made by means of a public instrument or affidavit duly filed with the Register of Deeds.
(The affidavit must be executed by the heirs and must contain the necessary allegations to support a valid extrajudicial settlement of estate. The affidavit shall be published in a newspaper of general circulation, once a week for three (3) consecutive weeks.)
Who are responsible for the collation of the estate?
- Executor or the person named in the will by the testator to carry out its contents.
- Administrator or the person appointed by the court to administer and distribute the estate of the decedent if there is no will, or if no executor named in the will, or if the person named in the will does not act or execute its contents.
Mercado v. Santos, 66 Phil. 215
Paras, E. (1999). Civil Code III (Succession). Quezon City: Rex Printing Company, Inc.
The New Civil Code of the Philippines