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Philippine Real Estate Laws |
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Right To Own Philippine Real Property |
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Non-Filipinos don't have the right to acquire real
estate properties in the Philippines. The easiest way
for a foreigner to acquire real estate properties is
to have a Filipino spouse purchase the property.
Having a Filipino partner is also another alternative
when acquiring a property. Either both share the
property with equal rights, or the partner owns 51% or
more and the remainder is owned by the foreigner.
Special visas are available for foreigners who want
complete and total control of a property. (More
information on special visas).
Only Filipino citizens and corporations (at least 60%
Philippine-owned) are entitled to acquire land in the
Philippines. As an exception to this rule, a foriegn
acquisition of a Philippine real estate is allowed in
the following cases: |
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Acquisition before the 1935 constitution.
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Acquisition thru hereditary succession if the
foreign acquire is a legal or natural heir. This
simply means that when your married to a Filipino
citizen and your husband/wife dies, you as the
natural heir will become the legal owner of his/her
property. The same is true for the children. Every
natural child (legitimate or illegitimate) can
inherit the property of his/her Filipino
father/mother even if he/she does not any Filipino
citizenship.
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Purchase of not more than 40% interest in a
condominium project.
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Purchase by a former natural-born Filipino citizen
subject to the limitations prescribed by law.
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Filipinos
who are married to aliens who retain their Filipino
citizenship, unless by their act or omission they
have renounced their Filipino citizenship.
Owning of houses or buildings is possible as long as
the foreigner does not own the land on which the
house is build. The land can be leased by the
foreigner on a long term contract, and the house can
be legally his.
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Disclaimer: |
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The information above has been obtained from
sources believed reliable. While we do not doubt its accuracy
we have not verified it and make no guarantee, warranty or
representation about it. Everyone is advise to
independently confirm its accuracy and completeness. Any
projections, opinions, assumptions, or estimates used are for
example only and do not represent the current or future
performance of the property. The value of this transaction to
you depends on tax and other factors which should be evaluated
by your tax, financial and legal advisors. You and your
advisors should conduct a careful, independent investigation
of the property to determine to your satisfaction the
suitability of the property for your needs. |
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