A common estate planning tool in the 1990s, real properties registered in the name of Family Holding Corporations are typically considered ordinary assets by the BIR. But, if the deal can be structured where the buyer will purchase the shares of the single-asset family corporation then the payment of VAT can be dispensed with altogether.
Category Archives: Real Estate in the Philippines
Things To Consider Before Purchasing a Parcel of Land Covered by an Emancipation Patent
Emancipation Patent is a proof of ownership which can be the subject of a contract of sale in the exercise of one’s right of ownership without violating the prohibitions embodied in Section 27 of R.A. No. 6657 relative to sale or disposition of awarded lands for a period of ten (10) years from their award because said provision of law solely applies to awarded lands under R.A. No. 6657 covered by CLOAs and not to PD 27 lands covered by EPs.
Is a Notarized Post-Nuptial Agreement Legal in the Philippines?
To make things absolutely clear for the unsuspecting couples, there is no such thing as a postnuptial agreement in the Philippines. If the couples married without a prenuptial agreement then, depending on the date of their marriage, their property regime can be conjugal partnership of gains or absolute community of property.
Can a Homeowner-Member Refuse to Pay Monthly Dues Because of Poor Service?
There is no provision in Rep. Act No. 9904 and IRR that legally permits or allows a homeowner-member to stop and withhold payment of monthly dues in response to the failings of the HOA Officers and their agents or representatives.
Can Aliens Inherit Land in the Philippines?
An alien can own land in the Philippines through a testamentary disposition from a Filipino spouse, whose marriage is valid under Philippine laws.