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As a rule, foreigners cannot own land in the Philippines. But, that’s the general rule. There are, in fact, recognized exceptions on when foreigners can own land in the Philippines. Acquisition before the 1935 Constitution Prior to the 1935 Constitution, there was actually no law prohibiting foreigners from owning lands in the Philippines. In fact, the Land Registration Act of 1902 – the landmark American legislation that provided for a comprehensive registration of land titles
After more than 10 years, the application for the Philippines' first REIT listing was finally filed with the Securities and Exchange Commission (SEC). After the release of the revised Implementing Rules and Regulations (IRR) of Republic Act No. 9856 or the Real Estate Investment Trust Act of 2009 last Jan. 20, 2020, Ayala Land, Inc. announced that its subsidiary AREIT Inc. (formerly AyalaLand REIT Inc. and One Dela Rosa Property Development Inc.) filed its application
We recently heard the news that the BIR issued the much-awaited revised guidelines on the Real Estate Investment Trust ("REIT") Act . But what exactly is a REIT? A REIT is basically a company that owns, operates, and finances real estate that generates income. This income is then distributed as dividends to its shareholders. For common folks like us, a REIT provides us an opportunity to "own" a portion of real estate that generates dividends
"...the ban on aliens is intended to preserve the nation’s land for future generations of Filipinos, that aim is achieved by making lawful the acquisition of real estate by aliens who became Filipino citizens by naturalization or those transfers made by aliens to Filipino citizens." Wilhelm, an Austrian, fell in love with Antonietta, her Filipina English tutor. They eventually bought a house and lots, in which both of them were designated as buyers. When they
In its recent report, Morgan Stanley Research (MSR) of the United States announced that real estate developers see a 10% year-on-year sales growth in 2019 and 2020 following the GDP growth of the country. In December 2019, the Central Bank of the Philippines released home price indexes for the third quarter of 2019, showing that condominium prices rose 29.1% year-on-year starting in 2016. Meanwhile, with the construction of real estate and the development of large-scale
A post about someone offering legal services for annulment cases is making rounds in the FB universe. The person asked how much it takes to get an annulment and "Anna online assistance" went on explaining the "process", fees, and "requarmence". Anna online assistance explained that all she needed was an authorization letter for the "cenomat" (sic: CENOMAR) and marriage contract, valid ID, and a copy of the marriage contract and voila, you can surely get
An annotation made pursuant to Section 4, Rule 74 of the Rules of Court (Rules) on a certificate of title covering real property is an encumbrance on the property and may be a ground for the buyer to suspend payment. This was the Supreme Court's ruling in Tan v. Benolirao. Spouses Benolirao and the Spouses Taningco were the co-owners of a parcel of land in Tagaytay City. In October 1992, they executed a Deed of
Dear Clients, Partners, Associates, and Staff, As we celebrate the opening of 2020, We would like to once again express our deepest gratitude for your support and continued patronage of YourBrokerPH. 2019 is our second year, and as expected we continued to face new challenges. We had to say goodbye to some of our staff who betrayed our values of integrity and hard work and let go of those who failed to share our Company's
I've often been asked how one can become a real estate salesperson. Yesterday, someone sent this message, asking how he can be a real estate person and what things he needs to learn to be one. The Real Estate Service Act of the Philippines (RESA) defines a real estate salesperson as "a duly accredited natural person who performs service for, and in behalf of a real estate broker who is registered and licensed by the