Real Estate Laws

Mckinley Hill – Modern House

HOUSE AND LOT FOR SALE : Location :  Mckinley Hill, Bonifacio Global City, Taguig Lot Area = 241 square meters Floor Area = 450 square meters Price = Php 39M Details :  Brand new, modern, three storey, four bedrooms with bathroom, living room, dining room, roof deck, service area, maid's / driver's quarters, 4 car garage for further details, please call or email our office. thank...

What is Encroachment ?

WHAT IS ENCROACHMENT ? A Building, a part of a Building, or an obstruction that physically intrudes upon, overlaps, or TRESPASSES  upon the property of another. This is a situation that normally just requires a geodetic survey to prove the one party is indeed "Encroaching" on a property however, most cases end up in litigation. robert Robert G. Sarmiento Properties Professional...

Redemption of Shares of Stocks

hello everyone, i was tasked to be a consultant in a sale of a condominium through sale of shares of stocks of a corporation.   this was a good option before to save on taxes but major changes by the Bureau of Internal Revenue now eliminates the major savings of this option and strict requirements have been implemented to justify this formerly transfer free exchange.   the primary concern is that...

What is a Unilateral Contract ?

WHAT IS A UNILATERAL CONTRACT ? 1. Contract arising where one party (the promisor) makes an offer to pay another party (the promisee) in return for the performance of an act, and the promisee gives his or her assent by performing the said act. A reward offered for providing certain information is an example of a unilateral contract. 2. Type of contract in which only one of the contracting parties...

What are the Exclusive Properties of each Spouse ?

Here's the flip side of conjugal property ownership that's worth knowing.   As mentioned, most of my blogs are based on actual cases I've had to do research on for the benefit of my clients.  It's just really uncomfortable to go through such an experience especially when the people involved are relatives or personal friends. Anyway, a right is a right, and what's considered an exclusive property by...

Conjugal Property – Philippine Law

  Here's some information on conjugal property under Philippine Law, take note that the Family Code of the Philippines was revised during President Corazon Aquino's tenure and was effected on July 6, 1987 and ownership of property, whether paraphernal or not are subject to the Family Code.    Please consult your lawyer for any concerns you may have. Conjugal Partnership Property Art....

What is Power of Eminent Domain ?

here's another issue worth looking into when buying a property ( commercial, residential or industrial ) in the Philippines.  a prime property that several developers are looking into may be subject to eminent domain and number of issues has to be verified and confirmed as part of 'DUE Diligence". WHAT IS POWER OF EMINENT DOMAIN ? Eminent domain or expropriation is the inherent right of the state to...

Extra Judicial Settlement – Facts to Know

Ever wonder what extra judicial settlement is really all about ?  Have you ever thought about the hows, the whys, the whats, and the wheres about this particular issue ?   For us real estate brokers, this is an issue that comes every so often in a sale however, amongst transactions that have cases, this is mostly the issue ! Take note of the following : 1) What happens when one's parents pass away...

TIN Number – Important Information about VAT

Please take note that your TIN NUMBER, whether you have one or not, is the most important number that the Bureau of Internal Revenue looks at  to assess if a Seller is subject to Value Added Tax ( VAT ) or not ! A recent case of a friend of mine who was selling his son's property was found to be VATable, which meant a 12% tax on top of the 6% creditable withholding tax !  The condominium unit the...

Blogs Worth Knowing

hello everyone, this is a blog done sometime november 2013 and our new subcribers have requested for important issues they have missed, here's one i believe all should be aware of. thanks and a Blessed Day to All .... hello everyone, it's 34 days till christmas and what a year this has been for most.  inquiries have never been so much and other lines such as industrial and office...

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