68 Tomlinson, Peta, “Philippines real estate: does Metro Manila`s move towards flexible online payment and virtual luxury home inspections makes now a good time to invest?”, South China Morning Post, October 30, 2020, www.scmp.com/magazines/style/news-trends/article/3107653/philippines-real-estate-does-metro-manilas-move-towards, last accessed January 8, 2021. 11 Olanday, Dan and Rigby, Jennifer, “Inside the world`s longest and strictest coronavirus lockdown in the Philippines,” The Telegraph, July 11, 2020, www.telegraph.co.uk/global-health/science-and-disease/inside-worlds-longest-strictest-coronavirus-lockdown-philippines/, last accessed January 8, 2021. Long-term land rental in the Philippines is an option for foreigners, expatriates, or foreign companies with more than 40% foreign ownership. Under the Philippine Investor Lease Act, they can enter into a lease agreement with Filipino landowners for an initial period of up to 50 years, renewable once for 25 years. Any naturally born Filipino citizen who has lost their Filipino citizenship can still own private land in the Philippines (up to a maximum area of 5,000 square meters in the case of rural land). In the case of married couples, the total area that both couples are allowed to purchase must not exceed the maximum area mentioned above. The LRA issues registration decrees based on final court decisions in land registry proceedings and arranges for the corresponding title deed to be issued by the deeds. It exercises supervision and control of all document registers. (1) Purchase of private agricultural land for resale at cost to bona fide tenants or residents or, in the case of land abandoned by owners within the last five years, to individuals who will work the land themselves and who are entitled to acquire or own land but do not own more than six hectares of land in the Philippines; Under Republic of the Philippines Act 9225, dual Filipino citizens may own land in the Philippines without restrictions similar to those of foreigners or former Filipinos born. Foreign ownership of a house or residential building in the Philippines is legal as long as the foreigner or expatriate does not own the land on which the house was built. Real estate consultants can help foreign investors with business issues such as the purchase price of a plot of land or the rental rate.
§ 20 Prohibition of alienation. After the filing of the application referred to in sections twelve and sixteen, the landowner may not dispose of any part of the land covered by this application, except under the provisions of this Act, nor enter into any form of contract to thwart the objectives of this Act, and no eviction proceedings may be instituted or continued against a tenant or occupant of the land to which the application relates. until it is assured that the property cannot be acquired by the administration. (1) Payment for agricultural land or other immovable property acquired by the Government: provided, however, that the purchaser on the acquisition of agricultural land is not prohibited from owning or owning agricultural land in accordance with the Constitution; which proves the transaction, is deposited in the register of corresponding acts for registration. In the event of a sale or transfer of ownership, the original Certificate of Ownership will be cancelled and a new one, a Certificate of Transfer of Ownership, will be issued. In the case of a lease, mortgage or other type of charge, the transaction will only be noted on the original certificate of ownership. There is an ongoing process of centralizing and computerizing the records of all document registers. Under this centralized registration system, a certified copy of a certificate of ownership for a property anywhere in the Philippines can be obtained from any registry of deeds. At present, some regions of the Philippines are not yet part of the centralized registration system.
For these zones, the title search is carried out by going to the register of deeds of the city or municipality where the property is located and requesting a certified copy of the certificate of ownership. (2) Initiate and pursue expropriation proceedings for the acquisition of private agricultural land in appropriate cases for the same purpose of resale at cost: provided that the power granted by this Law applies only to private agricultural land in respect of the area of more than three hundred hectares of contiguous land if owned by natural persons and in respect of the area of more than six hundred hectares. if they are owned by companies: provided that land on which there is legitimate agricultural disturbance can be expropriated regardless of its size. The Condominium Act places restrictions on foreign ownership of units in a condominium project. A “condominium” is defined as an interest in an immovable consisting of a separate interest in a unit of a residential, industrial or commercial immovable and an undivided common interest, directly or indirectly, in the land on which it is located and in other common elements of the building. Since condominium ownership encompasses an undivided common interest in the land on which the condominium project stands, the Condominium Act reflects the foreign restriction on land ownership in the Philippines. Thus, under the Condominium Act, there is also a 40% limit on foreign ownership, which is calculated as follows: As a general rule, only Filipinos owned by Filipinos and companies or partnerships holding at least 60% of the shares may own or acquire land in the Philippines. However, foreigners or non-Filipino nationals can purchase condominiums and buildings and enter into a long-term ground lease.
The above restrictions on ownership of land and condominiums do not apply to ownership of other types of real property (e.g., buildings or other improvements to the land). Foreigners may own these other types of real estate. (2) Initiate immediate investigations in areas where land rights difficulties arise and recommend appropriate action without delay; Cralaw (2) conduct surveys and engineering studies within sixty days of preliminary negotiations to determine the ownership of the land and its true value, taking into account (a) prevailing prices of similar land in the immediate vicinity, (b) soil condition, topography and climatic risks, (c) actual production, (d) accessibility and (e) improvements; and Some parcels of private land in the Philippines are not covered by transfer certificates.
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