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is as follows:
1) Salaries and wages shall be owned by them in equal
shares; and
2) Property acquired by either of the parties exclusively by
his or her own fund belongs to such party provided that
there is proof that he or she acquired it by exclusive funds;
3) Property acquired by both of them through their work or
industry shall be governed by the rules on co-owner- ship.
Consequently, either spouse may alienate in favor of the
other his or her share in the property;
4) Property acquired while they live together shall be
presumed to have been obtained by their joint efforts, work
or industry and shall be owned by them in equal shares. A
party who did not participate in the acquisition by the other
party of any property shall be deemed to have contributed
jointly in the acquisition thereof if the formers efforts
consisted in the care and maintenance of the family and of
the household;
5) The fruits of the couples separate property are not
included in the co-ownership (Valdes v. RTC, 72 SCAD 967,
260 SCRA 221);
6) Property acquired by any of the parties after separation
shall be exclusively owned by the party who acquired it;
7) Neither party can encumber or dispose by acts inter vivos
of his or her share in the property acquired during
cohabitation and owned in common, without the consent of
the other, until after the termination of their cohabitation.
However, either spouse may alienate in favor of the other
his or her share in the property co-owned. But no one can
donate or waive any interest in the co-ownership that would
constitute an indirect or direct grant of gratuitous advantage