RESA LAW: CODE OF ETHICS AND RESPONSIBILITIES for Real Estate Service Practitioners Pursuant to Section 5 (f), Article II and Section 35, Article IV of R.A. No.9646, otherwise known as “Real Estate Service Act of the Philippines”, the Professional Regulatory Board of Real Estate Service (PRB-RES) subject to the approval by the Professional Regulation Commission […]
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Be aware of Over Improvement and Under Improvement in Real Estate REAL ESTATE PRINCIPLE: THE PRINCIPLE OF DIMINISHING RETURNS IN REAL ESTATE In your quest for choosing the best property for your budget, it is advisable that you arm yourself with am important principle in real estate: THE PRINCIPLE OF DIMINISHING RETURNS. Let me explain […]
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Laws on Property Ownership CONCEPT OF OWNERSHIP Real Estate Philippines Ownership is the independent right of a person to the exclusive enjoyment and control of a property including its disposition and recovery subject only to the restrictions established by law and rights of others. RIGHTS INCLUDED IN OWNERSHIP Fee simple consists of the so called […]
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Condo owner responsibilities: Rights and responsibilities of a condo unit owner: Absolute ownership of his unit Co-ownership of land and common areas Exclusive easement of the space of his unit Non-exclusive easement to common areas for ingress or egress Right to sell, lease, or mortgage his unit Right to repair, paint, decorate the interior surface […]
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RIGHT TO OWN CONDOMINIUMS: Real Estate Foreign Ownership Foreigners can buy and enjoy 100% ownership of a condominium unit in the Philippines provided that the condominium project or developer maintains 40% Foreigner and 60% Filipinos of the ownership of units in any Condominium project. RIGHT TO OWN LAND Foreigners cannot buy land in the Philippines […]
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