Under Philippine law, there are conditions when splitting up property among heirs after the original title holders have passed away. However, you only need to follow four steps to subdivide a lot left by your parents. In this article, we will answer two of the most common questions that Filipinos have regarding land subdivision, who will inherit the property if the owners don’t have children and if a married couple both have rights in an inherited property.

4 Steps to Subdivide a Land PropertySubdividing a one-hectare lot or more among heirs is not as difficult. There are only four easy steps to do this:

Step 1: Go to the DENR office near you. Make sure you already have the subdivision plan from a geodetic engineer who will subdivide the lot. After a few days, they will approve the lot plan and let you know when you can come back to get the approved copy. Then, you can get the sepia, blueprint, technical description, and the approved subdivision plan.

Step 2: Go to your lawyer. Ask for a Letter of Request to Subdivide addressed to the Registry of Deeds and have it notarized.

Step 3: Proceed to the Registry of Deeds. Submit all the documents from the DENR, a notarized letter from your lawyer, a tax declaration, and a Certificate of Non-delinquency. Pay for the registration fee once all the requirements are completed. You will receive a claim slip where the date of release for the subdivided titles will be released.

Step 4: Go to the Assessor’s office. Here, the staff will inspect the individual titles and assess them before issuing a new Tax Declaration.

Is Inherited Lot Conjugal or Exclusive Property?Do married couples have equal claims in an inherited lot? No. Under Article 91-92 of the Family Code, Filipinos who marry without a prenuptial agreement will share all their assets acquired before and during marriage as conjugal properties, except for inheritance such as land property. While you’re married, the lot you inherited will remain your exclusive property since you are the heir, not your spouse. Inherited properties only belong to the legitimate beneficiary of the decedent and, hence remain an exclusive property. This law applies to couples who were married after August 3, 1988.

Who Inherits the Properties of Childless Decedents?If a person who doesn’t have children dies, who gets the estate? The answer is quite simple. If the spouse and parents are still alive, they will share the properties according to Article 997, Civil Code of the Philippines. If the parents are dead but have a surviving spouse and illegitimate children, they both have equal claim to the properties according to Article 998 of the Civil Code. Now, if the parents and spouse are still alive, and there are illegitimate children, the parents will get 50%, while the remaining 50% will be equally divided between the spouse and illegitimate children according to Article 1000, Civil Code.
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If you have questions regarding land subdivision, please don’t hesitate to contact us. We will immediately respond to all your concerns.

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According to Leechiu Property Consultants, the condo oversupply in Metro Manila has reached the equivalent of 34 months in November. Meaning, it will generally take up to 34 months to sell the current supply in the market. The high interest rates, preference to buying single-detached houses, and other external concerns caused the oversupply of condominiums in the city. However, it’s also the best time to get a condo since Manila is a great location. Read on to learn how to buy a condominium unit in the Philippines as well as tips on how to find the right one in this guide.

Is Condo the Best Option?Before we delve into the steps in buying a condo, let’s tackle first whether or not this is right for you. One important thing you need to know is that the condo lifestyle is way different from living in a single-detached home that many Filipinos now prefer. Some pointers to consider when deciding whether condo living is best for you:

• You value convenience, comfort only comes second.
      
• No plans for major renovations.
      
• Doesn’t expect regular guests.
      
• Okay with conservative home space and having neighbors.
      
• Needs     to live in the metro or as close as possible to where you work.

How Will You Pay?

Of course, the next important thing to consider is the available financing options that you can afford. Buying a condo needs you to pay the unit’s total contract price. So if you don’t have the budget right now, don’t worry because you can choose a good financing service such as bank loan, in-house financing, or Pag-IBIG to settle it for you.

Types of Condominium Units

There are ideal options for everyone who wants to acquire a new condo unit in the metro or other provinces like Cavite, Laguna and even Baguio. It all depends on how much you can afford and your needs that should be addressed when choosing a suitable condo. You have the most popular studio type unit, 1/2/3-BR unit, and penthouse. All these cater to the different needs and comfort expectations of the buyer.

Buying Tips for Condo HuntersAlways do your diligence when making big decisions in your life. Here are the steps you can follow when investing in a condo here in the Philippines:

1. Know your goals.
       
2. Examine the structure of the condominium unit.
       
3. Choose a good location.
       
4. Read and understand the contract.
       
5. Decide on the best financing option.
       
6. Learn about the amenities offered.
       
7. Ensure that proper security measures are in place.
       
8. Check     the neighborhood.
       
9. Know the background of the developer.
       
10. Observe the parking space.

Final Thoughts

Having a condo in the Philippines is one of the most convenient choices that one can make, especially if you want to live near your workplace. If you’re looking for condo recommendations, our experts can help you in decision-making. Let us know if you need professional guidance and we will immediately answer your questions!

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If you want peace of mind and secure your future when you retire, you can invest in real estate now. Aside from the increasing value of properties in the country, it’s also the best time to acquire a new home because of the low interest rates offered by real estate companies. There are so many good reasons why Filipinos should consider having a real estate investment before their careers end. Read on to discover the many benefits of buying a property, its potential profits, and some pitfalls to look out for.

Investment Portfolio Diversification

As an investor, you want to diversify your portfolio in order to protect your assets against any loss. One way to do it is to invest in real estate as the values of stocks, mutual funds, and other securities will fluctuate depending on market conditions. Real estate is a non-liquid investment so you can play with the volatility of the market from time to time. Keep in mind that the worth of condos, townhouses, single-detached homes, and other housing units will keep increasing over time.

PH Real Estate Is Least Expensive

Around the world, you can find the least expensive properties in the Philippines due to a plethora of well-funded developers. There are so many affordable options to buy or invest in, making it an even better investment. Moreover, both non-licensed and licensed investors as well as brokers without license can join the real estate market including the pre-sale option. Meaning, they can sell or acquire properties anytime – a nice strategy if you want to build a stable rental income.

Enjoy Tax Savings and Other Perks

Real estate investors can avail of tax benefits and deductions from owning, maintaining, and operating properties in the Philippines. The cost if you want to buy and develop your property will depreciate over time, so you can benefit from the deductions and decrease your taxable income for decades.

Build Passive Income

Before you invest, make sure to calculate your potential profits. If you’re paying monthly amortization, you can make an income on rental. Some areas have higher rental rates so it’s really a good strategy to build a passive income from your real estate investments. You can also buy a property and then sell it for a higher price to make profits. Another idea is to transform your home into lodging or AirBnB if you’re located near a commercial center, tourist spots, and other destinations that people come to visit.
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Final Thoughts

Investing in real estate in the Philippines is a smart move. Whether you’re an OFW, a seasoned investor, or a new home buyer, make sure to consult a real estate agent to help you throughout the process. Remember, it’s not an easy journey so it’s always better to work with a professional who understands the entire buying process. You may contact us today for some free advice and we’ll be happy to help you!

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Many Filipinos seem to prefer single detached homes rather than townhouses and condos, and why is that? Whether you’re looking to acquire a property in Metro Manila, Baguio City, or anywhere in the country, now is the right time to invest your hard-earned money in real estate. Let’s break down the reasons why a lot of home buyers and investors are choosing single-detached houses over other types of housing units available in the market.

Better Affordability, More Spacious

According to Bangko Sentral ng Pilipinas’ latest residential real estate price index report, a majority of property buyers in the Philippines are purchasing attached houses instead of duplexes, condominiums, and townhouses. The BSP also revealed that 78.7% of the total real estate loan transactions during this year’s second quarter were used to acquire these new properties. Apparently, housing developments outside the metro are getting attention from buyers because they are more spacious and affordable compared to condos in the city.

Greater Convenience and Connectivity

With new infrastructure developments and integrated townships, the promising conveniences and improving connectivity offered by such housing units are attracting more home buyers in certain locations. Some of the township hotspots seen with potential to flourish rapidly in the northern part are Clark Global City, Filinvest Mimosa, Alviera, Rockwell at Nepo, and other surrounding areas in Clark International Airport.

Condos Getting More ExpensiveIn the first quarter of this year, housing prices increased by 1.8% including condominium units and townhouses. As a result, home buyers are more drawn to buying a house rather than a condo in the NCR with the decrease in prices for single-detached and attached houses. For those who want to buy a new home with a limited budget, it would be best to explore options in the single-detached housing units.

Increasing Value per Square Meter

The BSP said that the appraised value of new units is at Php 83,759 for every square meter. On the other hand, the appraised value of housing units in AONCR is different than that of the NCR value. This explains why it’s more affordable to buy units outside Metro Manila, hence Filipinos are choosing to purchase properties in nearby provinces. The changes in housing unit prices are based on the mortgage loans from banks used to buy new units, except foreclosed and pre-owned properties.

Final Thoughts

When buying a property in the Philippines, it’s important to understand the real estate market trends in order to get the best option. If you’re currently looking for a new house to buy, remember to contact a reliable real estate agent to assist you throughout the buying process. Having a professional who understands the ins and outs of the Philippine real estate industry will help you get the most ideal investment that increases in value over time. Lastly, always be aware of the ongoing prices and shop around to ensure you get your money’s worth.

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When it comes to a solid financial strategy, real estate investment often comes to mind. Many Filipinos now realize the huge potential of being a property investor to achieve long-term financial success and diversify their portfolios. So how do you navigate the Philippine real estate market whether as a first-time buyer or a seasoned investor in these current trends? Read on to discover the best tips on how to buy properties in the Philippines and the risks that you also need to be aware of.

How to Invest in the Philippine Real Estate Market

Due to the growing macroeconomic environment of our country, the real estate industry is projected to continue increasing in value in the coming years. This is more evident by Filipinos choosing real estate as their preferred investment vehicle for their portfolio along with owning a business, and investing in stocks, mutual funds, and bonds. Now, how do you start investing in real estate? Here are some helpful tips to get started:
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• Make sure to complete all the requirements when buying a property including a notarized Deed of Sale.
      
• Use a reliable site where you can find real estate listings in your preferred location. There are so many real estate online marketplaces and sites you can find on the internet for properties that are for sale.
      
• Hire a professional real estate agent who knows the ins and outs of the buying process so you can get the best options before deciding what kind of property to buy and invest in.

Quick Steps in Buying a Property in PH

Once you’ve found the ideal property you want to acquire, here are the steps involved in the buying process:

Step 1: Verify the ownership to spot any issues that may arise and ensure that the person selling it is the rightful owner backed by essential documents.
Step 2: Secure a duly signed Deed of Sale and settle the BIR fees as well as transfer taxes.
Step 3: Start processing the Certificate Authorizing Registration or CAR.
Step 4: Secure a copy of the new tax declaration.
Step 5: Wait for the issuance of the new land title with your name on it.

You may be wondering about the ideal locations for your real estate investment. One of the best locations for property investors in the Philippines is Baguio City. Everyone wants a vacation home in this popular tourist destination. You can invest in a condominium and offer it for rent so that you can enjoy a monthly passive income. You can invest in other types of properties: dorms, warehouses, residential properties, and low-rise commercial buildings.

Final ThoughtsYou may need a large sum of money to invest in real estate unless you want to put your money in REITs. But the point is, you need to do your homework before deciding to plunge into the real estate market as it can be complex, especially for beginners. So contact your local real estate agent to help you make informed buying decisions and ensure you get your money’s worth.

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When a family member or someone dear to you has left this life, it’s normal to feel grief-stricken and mourn their death. But after some time, you should come to terms with it and move forward. In addition, you must handle all the paperwork, especially if the deceased is leaving you a real estate property in the Philippines.

To help you out, read on as we share the requirements and process on how to transfer a property title from a deceased registered owner in the Philippines.

How To Transfer Property Title From Deceased Registered Owner in the Philippines

Inheritance Law

But before we dive into the process of transferring a property title from a deceased, here are the following ways to inherit real estate in the Philippines as per the Civil and Family Code:

• Testate succession – ensures the distribution of the deceased assets is based on a valid will.
• Intestate succession – refers to the process of distributing the deceased assets to surviving heirs if there's no legal will.
• Forced heirship – guarantee the specified heirs, like spouses, children, and parents, get the estate’s compulsory portion despite the will’s condition.
• Donations and gifts – the estate’s distribution can be affected by gifts and donations
• Probate proceedings – refer to the legal process of transferring the property's title based on the law of intestate succession or will.
• Extra-Judicial Settlement of Estate (EJS) – legal heirs must secure a notarized EJS to transfer property title if the deceased did not leave a will

Inheritance Tax

If you’re inheriting a real estate property, you will also inherit the required taxes. This means you must be responsible and pay the estate tax by visiting the Bureau of Internal Revenue (BIR). It refers to the total amount of the deceased owner’s estate tax, payable within one (1) year from the date of demise. You must settle the payment on time to avoid penalties. Additional taxes and fees also apply if the heir sells the property.

Requirements & Process
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Here are the requirements and process to transfer a property title from the deceased registered owner:

1. Prepare all the required documentary requirements, including:

• Photocopy of the Death Certificate
• Official receipt or proof of payment
• Estate Tax Identification Number (TIN)
• Court order, if judicially settled
• Deed of Extra-Judicial Settlement of the Estate (EJS), if applicable
• Affidavit of Self-Adjudication and Sworn Declaration, indicating all the details of estate properties

1. Visit the Philippine Statistics Authority (PSA) or local civil registry to secure a certified copy of the deceased Death Certificate.
2. Obtain a probated will or a Declaration of Heirs from the court.
3. Fill out the BIR form 1904 to register the title. Ensure the deceased and heirs have their own Tax Identification Number (TIN). Also, don’t forget to attach the photocopy of the Certified True Copy of the death certificate.
4. Submit the required documents to file an estate tax return.
5. Ask the BIR to calculate the total value of the deceased estate tax from the time of death and pay it.
6. Obtain a Certificate of Tax Clearance issued by BIR, confirming the full payment for real estate tax return.
7. However, Extra-Judicial Settlement of Estate can be applied if the heirs disagree about the property's distribution.
8. Once you've prepared all the documents and proof of payments, the next step is to submit the requirements to the BIR Revenue District Office (RDO). This process takes within five (business days) to secure the Certificate Authorizing Registration (CAR).
9. After obtaining the CAR, you can now transfer and register the property title. As per the Land Registration Authority (LRA), you can transfer the property title of the deceased in the Philippines by securing the following requirements:

• Deed of Sale (for properties sold to a third party)
• Deed of Extra-Judicial Settlement of Estate
• Owner’s Duplicate Copy of Title
• Certificate Authorizing Registration (CAR) issued by BIR
• Realty tax clearance
• Transfer tax clearance
• Affidavit of Publication of Settlement