Article 157: Maximum value of family home — Family Code

The actual value of the family home shall not exceed, at the time of its constitution, the amount of the three hundred thousand pesos in urban areas, and two hundred thousand pesos in rural areas, or such amounts as may hereafter be fixed by law.

In any event, if the value of the currency changes after the adoption of this Code, the value most favorable for the constitution of a family home shall be the basis of evaluation.

For purposes of this Article, urban areas are deemed to include chartered cities and municipalities whose annual income at least equals that legally required for chartered cities. All others are deemed to be rural areas. (231a)

Consolidated by Alleba from the text of Executive Order No. 209 (Lawphil), which already includes the changes made by Executive Order No. 227 (1987) before the Code took effect, and the amending Republic Acts in our library. Later amendments made by Presidential Decrees, Batas Pambansa or other executive orders are not included. For information and research only, and not legal advice. For certified copies, refer to the Official Gazette or the issuing agency.