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All ▸ Bar 2024 ▸ REMEDIAL LAW, LEGAL AND JUDICIAL ETHICS ▸ VIII. LEGAL AND JUDICIAL ETHICS WITH PRACTICAL EXERCISES ▸ B. Code of Professional Responsibility and Accountability (A.M. No. 22-09-01-SC) ▸ D. Practical Exercises ▸ 4. Extrajudicial Settlement

Question

D. Practical Exercises: Extrajudicial Settlement

Alex, Bianca, and Carlos are siblings who recently inherited a valuable piece of land from their late parents. They are considering executing an extrajudicial settlement to divide the property among themselves. However, they are unsure about the legal requirements and steps involved in the process.

  1. Explain the concept of extrajudicial settlement as provided under Philippine law.
  2. What are the essential requirements for a valid extrajudicial settlement?
  3. Discuss the procedure and documents needed to successfully execute an extrajudicial settlement.
  4. Can the extrajudicial settlement be executed without the assistance of a lawyer? Explain.


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Bar Review Question: D. Practical Exercises: Extrajudicial Settlement Alex, Bianca, and Carlos are siblings who recentl