Practice question
Does the death of a shareholder automatically transfer title to a corporate factory into that shareholder’s estate?
- Yes, every corporate asset becomes estate property
- Yes, but only if the shareholder was chair
- No; corporate assets remain distinct from the shareholder’s shares and estate
- Yes, because artificial beings cannot own property
- Yes, whenever a relative demands it
Legal references
- Revised Corporation Code, RA 11232, Sections 2, 10, 35, 116 and 173: https://lawphil.net/statutes/repacts/ra2019/ra_11232_2019.html
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