Showing posts with label Property Ownership. Show all posts
Showing posts with label Property Ownership. Show all posts

Friday, October 30, 2020

Case Study of Socialized Housing Properties: Can You Sell Your Property Or Not?


Recently, we have see the trends of people selling their old homes located in NHA housing projects provided by the national government through National Housing Authority for free and have decided to "sell off their rights" on the said properties because the original owners have died out and have given their rights to their heirs. However, heirs of the deceased sometimes would care less to stay on those old neighborhoods they grew up and have relocated or decide to move out and live in exclusive subdivisions or other residential estates due to their economic migration and the change of their lifestyles or have permanently moved out of the country particularly people who have garnered success in their fields or careers.
  

Monday, September 28, 2020

Why You Need Estate Planning Now!


Estate Planning is part of life planning. This is the period when you create a strategy ahead of time on one's possible demise leaving behind a legacy that could has bear fruit and will be picked up by the loved ones (heirs) of the estate.

What is an Estate?

An estate may composed of land (lot with improvements such as buildings, homes, farm, etc), personal belongings (e.g.s.  jewelries, fine arts, cars or antiques) or possessions with financial or monetary value such as money deposited on bank,s stocks from listed companies or shares from non-listed companies or corporations the decedent owns when they were still alive.
 

Monday, August 24, 2020

Technical Descriptions of TCT: How this is important and vital on your Real Estate Transaction


"Surveying is an art of determining the position of points on or near the earth's surface by the elements in space, namely, distance, direction and elevation. It is also a science and art of determining the area and configuration of portions of the surface and representing them on maps."

In every Transfer Certificate of Title (TCT), the property's technical descriptions helps the geodetic engineer / land surveyor, real estate appraiser or even the eal estate broker in determining the correct metes and bounds of the property. It will give the reader a guide or clue on the right area or dimension of the subject property in question. 

Monday, May 11, 2020

INSIDE REAL ESTATE: On Buying Your First Home


"Have you dreamed of acquiring your very own home? Have you imagined, seating on your porch, sipping your morning coffee and reading your newspaper. Seeing your neighbors in the street mowing their lawns or cleaning the front yard? Or just getting ready for morning rush of going to work."

 Buying your first real estate residential property requires tedious and multiprocessing tasks of properly planning and making wise but crucial decisions. Buying a house doesn’t involve you as a breadwinner but involves your wife as a co-maker and a borrower and the whole family as beneficiary in securing your very own home and in the right neighborhood where you can live and flourish. 

Monday, April 6, 2020

What You Should Know About Estate Settlement?





Sharing my thoughts for those who still want to apply for Tax Amnesty on real properties, stocks / shares and others of their deceased decedents. Below was taken from the Rules of Court under the Philippine laws.

RULE 74
Summary Settlement of Estate

Section 1. Extrajudicial settlement by agreement between heirs. — If the decedent left no will and no debts and the heirs are all of age, or the minors are represented by their judicial or legal representatives duly authorized for the purpose, the parties may without securing letters of administration, divide the estate among themselves as they see fit by means of a public instrument filed in the office of the register of deeds, and should they disagree, they may do so in an ordinary action of partition. If there is only one heir, he may adjudicate to himself the entire estate by means of an affidavit filled in the office of the register of deeds. The parties to an extrajudicial settlement, whether by public instrument or by stipulation in a pending action for partition, or the sole heir who adjudicates the entire estate to himself by means of an affidavit shall file, simultaneously with and as a condition precedent to the filing of the public instrument, or stipulation in the action for partition, or of the affidavit in the office of the register of deeds, a bond with the said register of deeds, in an amount equivalent to the value of the personal property involved as certified to under oath by the parties concerned and conditioned upon the payment of any just claim that may be filed under section 4 of this rule. It shall be presumed that the decedent left no debts if no creditor files a petition for letters of administration within two (2) years after the death of the decedent. The fact of the extrajudicial settlement or administration shall be published in a newspaper of general circulation in the manner provided in the nest succeeding section; but no extrajudicial settlement shall be binding upon any person who has not participated therein or had no notice thereof.

Monday, February 24, 2020

A Property Appraisal Case Study For Australian Immigration Visa Application

Photo by Hugo Heimendinger from Pexels

This is one of the cases we handled over the past few years in giving our clients the tailor fit services in their compliance with their immigration requirement under Australian laws where they wish to migrate.

As a real estate professional we are happy to be of services to such people who are in need of such particular services that can help them fulfill a part of their dreams of living outside of their original home country. Such as this former clients of our who we had withheld their names and specific location and their current whereabouts.

Monday, February 3, 2020

Inside Real Estate: How To Flex Your Real Estate Payment Capability?

Photo by rawpixel.com from Pexels


For many Filipinos it is a dream for a family to own their home and live in a plot of land they call theirs as it shows pride and satisfaction for any homeowner to acquire a property for use as their primary home. 

It has been a problem for most  home buyers in building one's equity. It is worrisome for most home buyers, to have incur expenses to used for a down payments  which is out of pocket requirement for prospective buyers. However, there are Rent-To-Own schemes available but will be discussed on another topic.

Monday, November 18, 2019

Fundamentals of Real Estate Ownership And FAQs in Philippine Properties



For most Filipinos (or even foreigners) to own their home in the country is the dream country. It brings a great fulfillment and satisfaction on investing a properties that can be used as an instrument for investment (for leasing / selling), for pleasure (vacation home) or just a plain home where you can enjoy one's company with one's own family.

Monday, October 7, 2019

Understanding the Rent Control Law of 2009


For would be landlords or those who are interested in buying a property as investment such as residential apartments or residential condominiums to be used for the purpose of renting or leasing it to would be renter / lessee. 

In general, the Philippine housing rentals are covered by the Rent Control Act of 2009, a law intended to protect millions of Filipinos renting houses. The Housing and Urban Development Coordinating Council (HUDCC) is the government agency in charge of overseeing the implementation of the Rent Control Act, also known as Republic Act 9653 or “An Act Establishing Reforms in the Regulation of Rent of Certain Residential Units, Providing the Mechanisms Therefore and For Other Purposes.”

R.A. 9653 was approved in 2009 and its provisions have been recently extended by HUDCC for a period of three years, from January 1, 2018, until December 31, 2020.

The subject property is covered by the salient features of this law wherein houses for rent are covered because of its residential and commercial purpose.

Monday, June 10, 2019

Inside Real Estate: Property Rights Vs. Titled property in the Philippines

Photo Credits

A week ago, I was with one of my friend who chanced upon an acquaintance of ours who introduced herself as a called “real estate agent per se”. We were in this one of social event of an unnamed organization and she hitched a ride with us on our way home after the activity. While driving to our destination we talked to her about what she was doing for a living and mentioned that she is owns a upholstery shop and on the sides as works as a “real estate agent per se” thereby mentioning about real estate to us (me and my friend) were both curious about the property she mentioned so we decided to have an ocular inspection of the subject property with her. 

On our visit, it seems the neighborhood is quiet but questionable. It seems to be a in a bad neighborhood with questionable characters of people propping out their heads on their windows when we passed by, roads are not concreted an no sewerage or canal to disburse rain water during monsoon season. Just a few meters away, there was a wide river with newly constructed rip-rap on the shoreline of the river plus a soon-to-be constructed connector road encompassing the two major highways.