Article 157 of the Family Code allows the exemption of the family home from execution, forced sale or attachment if its actual value does not exceed, at the time of its constitution, the amount of P300,000.00 in urban areas and P200,000.00 in rural areas, or such amounts as may be fixed by law. Should the value of the currency changes after the adoption of the Family Code, the value most favorable for the constitution of a family home shall be the basis of evaluation.
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.
