The Supreme Court’s new E-Notarization Rules let Philippine notaries authenticate documents remotely using secure video calls, digital IDs, and e-signatures. This article explains how the system works, its benefits and burdens for real estate professionals, and what buyers across the country should check before relying on e-notarized documents.
Tag Archives: real estate
Protecting Broker Commission from a Scheming Landowner
This piece unpacks Bayanin v. PNB (2023), where brokers who introduced a buyer were excluded after the deal was recast as a joint venture. It shows how the Supreme Court still treated the arrangement as a sale, affirms the broker’s role as procuring cause, and urges real estate practitioners to secure written agreements and maintain a clear paper trail to safeguard commissions.
Rep. Act No. 12216: Game Changer for Socialized and Low-cost Housing?
The passage of the National Housing Authority Act (Rep. Act No. 12216) aims to enhance the NHA’s role in addressing the housing backlog in the Philippines, particularly for underprivileged communities. Key provisions include a 50-year corporate term extension, tax incentives, streamlined land management, and improved governance, promising significant impacts on socialized and low-cost housing.
How the Ease of Paying Taxes Act Will Revolutionize Real Estate in the Philippines
The “Ease of Paying Taxes Act” (Rep. Act No. 11956), signed by Pres. Marcos, Jr. in January 2024, streamlines tax administration in the Philippines, particularly for real estate transactions. It categorizes taxpayers, simplifies filing, and promotes online compliance, aiming to reduce confusion, encourage tax compliance, and facilitate property transactions.
Leveraging the One Person Corporation: A Game-Changer for Estate Planning in the Philippines?
The article discusses the One Person Corporation (OPC) in the Philippines, highlighting its benefits such as limited liability protection, simplified management, and estate planning advantages for real estate consolidation. It also addresses potential drawbacks like access to capital and personal liability risks, while emphasizing the importance of strategic succession planning and professional guidance.