Practice question
An executor finds a valuable painting in the decedent's home, but established records show it belonged solely to an unrelated lender and no retained interest or other inclusion provision applies. Is physical location in the home alone enough to treat it as the decedent's owned estate asset?
- Every object in a home automatically becomes the occupant's property at death.
- The executor may conclusively create title by listing it.
- The painting becomes the heirs' property merely because they found it.
- The artist's nationality alone decides estate ownership.
- No; possession alone does not establish the decedent's interest under 85(A).
Legal references
- NIRC Sections84-85,98 and104, read with TRAIN amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA10963, TRAIN, estate and donor tax amendments including Sections99-100: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
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