philippine real estate law

Pre-Nuptial Agreement – FAQs

hello everyone, Here's a touchy subject on "Pre-Nuptial Agreement" that's better to be aware of than not.  As always, this blog was created due to a recent case i came across with wherein a couple had to go through an unfortunate situation over financial and material assets. There are many misconceptions about pre-nups, such as it only takes effect when you get separated, or it only benefits the...

What is Urban Land Reform Code ?

What is Urban Land Reform Code also known as Proclamation No. 1967 and P.D. 1517 and what does this entail re ownership and possession of property ? I’ve been helping a friend sell their property in a prime location for the last 4 years, however there is an on going case that’s been filed since 1994 and recently ( that’s 23 years !!! ), they finally won the case.  It is a major progress but...

DEED OF ABSOLUTE SALE – Important Advisory

DEED OF ABSOLUTE SALE - IMPORTANT ADVISORY Sometime ago during the past administration of the Bureau of Internal Revenue, I encountered a Property Owner / SELLER who was selling a property and wanted a NET DEAL. Now what does a NET DEAL mean ?  It means that the SELLER usually wants an amount that is NET or CLEAN to them regardless of expenses to be paid.  The normal expenses that are for the...

The Importance of TIN # and Certificate Authorizing Registation

CASE STUDY : OUR tax laws provide that before documents transferring real properties are registered, it is first required that the Bureau of Internal Revenue (BIR), through its commissioner or duly authorized representatives, has certified that such transfers have been reported, and the corresponding taxes thereon have already been paid. To comply with this, the BIR issues Certificates...

Ethics Case – Procuring Cause

ETHICS CASE : As I always have done in the final portion of my seminars, FACTS TO LIVE BY, one of them is : Expect the Unexpected ( whether it's positive or negative ), I have to go thru one and this will be the 1st in my 30 years of practice. In this case, just yesterday, after a 4 month negotiation, a property owner ( Corporation ) refused to acknowledge my company as the listing broker after...

BIR – REVENUE MEMORANDUM CIRCULAR NO. 35 – 2017

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE 27 April 2017 SUBJECT :  REVENUE MEMORANDUM CIRCULAR NO. 35 - 2017 Clarification on the lmposition of Capital Gains Tax on Sale, Exchange or other Disposition of Real Properties TO :  All lnternal Revenue Officials and Employees and Other Concerned This Circular is being issued to clarify the imposition of Capital...

Case Study on Ethics Issue

CASE STUDY : Recently an associate that's been in the business for three years just relayed to me her experience and was asking advise on how to handle a touchy issue. The incident happened two months ago wherein a Client called her from her online advertisement then scheduled a viewing of that property. She then showed the property to the client and had her client acknowledge the viewing by having...

What is Right of First Refusal ?

WHAT IS RIGHT OF FIRST REFUSAL ? Sometime ago, I was working on a residential lot in a residential subdivision and was given the exclusive authority to sell by the property owner.  I then of course did my usual procedure of assessing the property by visiting the site, taking photos, and getting all necessary figures ( orientation, neighborhood, comparison of property values, etc ... ).  I also asked...

Supreme Court Ruling ( G.R. 150678 )

here's a Supreme Court Ruling ( G.R. 150678 ) from http://sc.judiciary.gov.ph/jurisprudence that We, licensed brokers and practitioners should be aware of.  This is case of a licensed broker who had to go through court case as a property owner, a bank for that matter refused to pay broker's professional fees ( at that time, it was still called "Commission" ).  Take note of the term "Procuring Cause"...

Speaker Alvarez moves to amend “Conjugal Assets” Sharing

Here's an article from www.congress.gov.ph re " Amendment of Conjugal Assets ", filed by Speaker Pantaleon Alvarez : House of Representatives Alvarez moves to amend "Conjugal Assets" Sharing Speaker Pantaleon Alvarez has filed a bill to prevent bitter property feud between estranged couples. It may even deter marriage for money. In filing House Bill No. 5268, Alvarez seeks to amend...

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