Cancellation of family assets before a notary public and before the family court.
In Colombia, the family patrimony is a legal institution whose purpose is to protect the family home and guarantee the right to housing of its members. It is constituted through the assignment of a specific property as family property, which is protected from possible seizures or judicial foreclosures for debts that are not related to the home. It is generally used in families with minors or disabled persons, to preserve the assets of those who are vulnerable.
In principle, the types of family assets that can be constituted are compulsory, voluntary and optional.
The constitution of the family patrimony is done through a process before a notary public without the need of a lawyer and the following requirements must be met:
- The property must be free of liens.
- Nor should it be mortgaged.
- The applicant must be the sole owner of the property.
- It must not be encumbered by a census or antichresis contract.
- The cadastral value of the property cannot exceed 250 legal minimum wages in force.
Once constituted, the family estate enjoys legal protection and can only be subject to seizure or execution in exceptional cases, such as debts related to the property itself, taxes and utilities, or mortgage loans on the property.
In case you wish to dissolve the family estate, it can be done before a notary or before a family judge. The procedures and requirements may also vary, but generally, according to Notary Office 19 of Bogota, the following is required:
- Photocopy of the identity card of those who appear as owners.
- Authenticated civil registry of the children, whether they are adults or minors.
- Deed of the acquisition of the property.
- Certificate of tradition and freedom.
- In case there are minors, the reason for the cancellation of the Family Patrimony must be specified and sufficient evidence must be presented to guarantee that the minor will not be left unprotected.
It is important to bear in mind that when there are minors, the assets and liabilities of the company’s
is not cancelled, but replaced. In addition, it is necessary to have the authorization of the Family Ombudsman located in the locality of the property. In case the family defender does not authorize the cancellation, it is possible to go to the family judge.
Finally, when all the beneficiaries within the patrimony reach the age of majority and have full physical and mental faculties for their survival, the Family Patrimony is extinguished or cancelled by means of a Public Deed and is susceptible to future sales, mortgages, precautionary measures, etc., regulated by common law.
Cybergraphy
https://www.notaria19bogota.com/cancelacion-patrimonio-familia/
https://plazalegal.com.co/abc-la-cancelacion-del-patrimonio-familia/
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