Real Estate Law / References


RE/MAX Advantage Iloilo

Generally, only Filipino citizens and corporations/partnerships which are at least 60% Filipino-owned can acquire land in the Philippines. Foreigners are not allowed to purchase land in the Philippines. They may, however, purchase condominium units provided foreign ownership in the entire condominium project does not exceed forty percent (40%).

According to Section 8 of Article XII of the 1987 Constitution of the Republic of the Philippines, natural-born Filipinos who have lost their Philippine citizenship may be transferees of private lands subject to limitations provided by law.

These limitations are defined by Batas Pambansa Blg. 185 which allows a former Filipino to be a transferee of private land up to a maximum area of one thousand (1,000) square meters in the case of urban land or one (1) hectare in the case of rural land to be used by him as his residence. Republic Act No. 7042 as amended by Republic Act No. 8179 provides that for investment purposes, former Filipinos may acquire a maximum of five thousand (5,000) square meters of urban land or three (3) hectares of rural land.

2) Hereditary succession- if the foreigner was announced to be a legal heir of a certain property.

3) Purchasing of not more than 40% of interest in a property.

4) Former natural born Filipino citizen can purchase up to 1, 000 square meters of residential property and 1 hectare of agricultural farm land if he/she didn’t applied and acquire dual citizenship.

 

Here are resources to further educate you:

RESA LAW: CODE OF ETHICS AND RESPONSIBILITIES

RESA-RA9646

PRESIDENTIAL DECREE NO. 957

PRESIDENTIAL DECREE No. 1216

REPUBLIC ACT NO. 6552

BATAS PAMBANSA BLG. 220

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