Text of the provision
Art. 2239. If there is property, other than that mentioned in the preceding article, owned by two or more persons, one of whom is the insolvent debtor, his undivided share or interest therein shall be among the assets to be taken possession of by the assignee for the payment of the insolvent debtor's obligations.
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Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
If there is property other than that mentioned in the preceding article, the creditors' claims are satisfied out of it in the order and manner this Title lays down.
The "preceding article" referred to here covers property already subject to a specific preference; this article addresses a different situation — property the insolvent debtor merely co-owns with someone else. Because co-ownership means each owner holds only an undivided share rather than a specific physical portion, the assignee cannot seize the whole property; only the debtor's own undivided interest in it becomes part of the assets available to satisfy his creditors, leaving the co-owner's share untouched.
Questions about this provision
- A co-owner of our family land became insolvent — can the insolvency court take his undivided share in our co-owned property?
- I co-own land with someone who became insolvent - can his creditors reach his undivided share in it?
Related provisions
- Article 2237 — Insolvency Governed by Special Laws.
- Article 2240 — Trust Property Is Not the Debtor's.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.