Real Estate Laws

Inheritance Law

INHERITANCE LAW What inheritance laws apply in Philippines? The law of the foreigner’s nationality governs inheritance in the Philippines. Philippine inheritance law is governed by the Civil Code of the Philippines, with the Rules of Court completing the procedural framework. The general principle in the Philippines is that substantive issues of inheritance, such as the order of succession,...

Real Property Taxes for 2016

hello everyone, Just a reminder that if you're a Real Property Owner in the Philippines, in order qualify for a discount in the Municipality or City your property is located at, the real estate tax for the land and improvement ( if applicable ), condominium, townhouse, etc ...  must be paid between January to March ( discounts vary depending on the Municipality or City where property is located...

Republic Act No. 9262

Republic of the Philippines Congress of the Philippines Metro Manila Twelfth Congress Third Regular Session Begun and held in Metro Manila, on Monday, the twenty-second day of July, two thousand three. REPUBLIC ACT NO. 9262 AN ACT DEFINING VIOLENCE AGAINST WOMEN AND THEIR CHILDREN, PROVIDING FOR PROTECTIVE MEASURES FOR VICTIMS, PRESCRIBING PENALTIES THEREFORE, AND FOR OTHER...

Why Property Assessment is Important ?

IMPORTANCE OF PROPERTY ASSESSMENT : Here's another important issue that everyone should be aware of when buying a property with a structure, whether new or old.  Recently a family friend bought a property with an old structure ( actually for major renovation or for demolition already ) in Metro Manila.  Now it's been a standard procedure for us licensed real estate brokers and buyers to do...

Importance of Notary Public

Here's an important issue with regards to having a document notarized by a Notary Public : The Notary Public plays a vital role in ensuring that documents are legitimate and that fraud does not play a role in these important document.   The main responsibility of a Notary Public is to witness the signatures of documents in order to make sure that the same  person written in the contract is the same...

Legal Separation ends Absolute Community of Property

Here's an article from Manila Times correspondent, Persida Acosta, re an infidelity issue which could lead to a legal separation thus ending an Absolute Community of Property.  Interesting to note that there are legal exceptions to the rule, most believe that since the 1988 Family Code was revised, everything accumulated into a marriage will always be considered "Conjugal Property". Legal Separation...

Entry of Judgement versus Certificate of Finality

What's the difference between Entry of Judgement and Certificate of Finality ? Recently i encountered a friend who was selling their property which they had foreclosed on.  Foreclosure procedure is the easy part as after a one year redemption period, the Title can be transferred already to the Mortgagor.  However, the difficult part was getting possession of the property as that's where the justice...

What every Corporation owning Real Estate Should Know !

You may have noticed my blogs have been limited for sometime now and this is due to the various real estate properties owned by our clients, relatives and friends through their CORPORATION that had to go through a process below due to the new Revenue Regulations by the Bureau of Internal Revenue and also the new requirements by the Securities Exchange Commission.  Take note that the rules and...

Beware of the Fixer !

Case Study :  A family inherited several real properties in Metro Manila from their parents in the mid 1980s and recently sold one of their properties.  Certified True Copies of the following :  Transfer Certificate of Title, Tax Declaration of both Land and Improvement, Tax Clearances for Land and Improvement and traceback were also done for the previous estate taxes as three members of the family...

Requirements for a Corporation Selling Real Property in the Philippines

Case Study : A property which was named in a Corporation twenty five years ago for the purpose of ownership is now being sold.  The Corporation has no activities and has not been filing any VAT related documents.  Upon checking the TIN # with the Bureau of Internal Revenue, the Corporation is non-Vatable and is instead subject to Percentage Tax.  Since the Corporation is the owner of the...

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