The article discusses the complexities surrounding the sale of real estate owned by dissolved corporations in the Philippines, emphasizing the legal distinctions between dissolution and liquidation. Many Filipino family corporations from the late 20th century have become inactive, complicating real estate transactions due to their properties remaining under their name. The Revised Corporation Code allows dissolved corporations to conduct limited activities for three years post-dissolution, including property sales through appointed liquidators.
Category Archives: Wealth
Buying Real Estate in the Philippines While Living Abroad: A Filipino-American’s Step-by-Step Guide
Buying real estate in the Philippines from abroad is complex, particularly for Filipino-Americans. It requires legal due diligence and understanding citizenship implications. Dual citizens enjoy full rights to purchase property, while U.S. citizens face limitations on land ownership. The buying process includes verifying titles, hiring licensed professionals, preparing essential documents, and understanding tax obligations. Common pitfalls include neglecting legal checks and rushing decisions. Strategic planning is crucial for making wise investments aligned with individual goals of ownership or financial security.
Secure Your Investment: The Benefits of Titled Land
Real estate serves as a key risk mitigation and wealth compounding tool, particularly in the Philippines where property ownership is vital for financial stability. Securing land titles enhances legal security, property value, and access to financing, creating significant advantages for landowners. The Torrens system supports this by providing conclusive evidence of ownership, reducing fraud risks. Titled properties often command higher market values and attract easier loan approvals, making the pursuit of land titles essential for long-term investment and prosperity.
How to Sell the Property of a Dead Relative
The article emphasizes the inevitability of death and the challenges of settling a deceased person’s estate, particularly in the Philippines. It stresses the complexity and importance of proper estate settlement. It advises on the crucial steps and legal considerations for heirs, along with the significance of availing the Estate Tax Amnesty.
Navigating Real Estate Transactions: Unveiling the Significance of Powers of Attorney
In real estate transactions in the Philippines, a written authorization for agents is crucial to the validity of land sales. Powers of Attorney facilitate and protect rights in transactions, offering flexibility, expertise, and continuity. Comprehending POA’s legal implications is essential for compliance, risk management, and effective communication between principals and agents, ensuring secure property dealings.
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