Filipinos have a nationalistic attitude towards land. In our cutlure, we witness our kababayans always coming home to the place they were born from. Here in Mandaue, Cebu, businessmen say it is very hard to buy property because they are priced “emotionally.” Meaning, they factor in the sentimental value into the price.
That is why the framers of the Philippine Constitution, restricted ownership of real property to Filipinos.
But if you are a foreigner how do you do go about owning real property in the Philippines the legal way?
Continue reading “If you are a foreigner and wants to own land in the Philippines…”
In this Cebu’s booming real estate industry, more and more commercial and residential buildings are constructed and rented to businesses or individuals.
Let’s admit it, some renters are not religious in paying rentals. Owners on the other hand sometimes let the violation of their lease contract pass by without doing anything.
But this is income lost already, and something should be done to correct it.
The first thing to do: Send your renter a notice to vacate. This has practical and legal purposes.
Practically, this is to remind the renter of default payments. Sometimes these people are juggling things, that they tend to forget especially if the owner is lenient.
Legally, this is forms the basis for filing a case for ejectment in court.
All in all, the owner has rights as much as the renter. Owners should assert their rights. Opportunity cost is forgone if righs are not asserted.
No, a co-owner is entitled to a proportionate share in the land but he is not the owner of a specific portion of land. He can be an owner of a specific piece of property only when the property has been partitioned.
In this sense, he cannot sell a specific piece. Thus, when a buyer purchases a specific piece of land from the co-owner, it must be with the consent of all the other co-owners.
Otherwise, the buyer merely purchases the pro indiviso share of the seller/ co-owner.
A common problem in the Philippines is buying property but the title is still registered under the name of deceased persons. In short, you are dealing with the heirs of the owners of the real property.
The problem with this is that there are many heirs of the property and it may be that it becomes very difficult to assemble all the heirs to agree to sell and sign the document.
If you are just dealing with one heir, you should make sure that all the heirs agree to sell to you. This is to avoid headache and have peace of mind. Just one heir cannot sell the entire property to you. In that case you are only buying his share, meaning you become a co-owner with the heirs. But what you are buying, really, is headache.