PROPERTY OWNERSHIP
Can an Overseas Filipino who lost his Filipino Citizenship acquire properties?
Answer: Former Natural Born Filipino Citizenship who wish to maintain his Foreign citizenship has a statutory privilege to acquire a property and either of the spouses may avail of the privilege under BP 185 (An Act To Implement SEC 15 Of ART 14 Of The Philippine Constitution) and RA 7042 (Foreign Investment Act Of 1991).
UNDER BP 185: 1000sqm for urban or 1 (One) hectare in rural
UNDER RA 7042: 5,000sqm for urban or 3 (Three) hectare in rural
CIVIL CODE
What is the difference between Contract of Sale and Contract to Sell?
Answer: Si contract of sell is not a conditional contract of sale, si contract to sell is simply another contract. Si contract of sale perfected, na-itransmit yung ownership, ibinigay yung property, natanggap ung payment, pwedeng absolute or conditional. Dito sa contract to sell may suspensive condition, pupunta palang tayo sa contract to sell kapag nagbayad ka, so this is a separate contract, hindi pa contrata ng bentahan, intent palang ng pagbebenta. Remember kapag sinabing contract of sale whether absolute or conditional naita-transfer ung title and ownership, dito sa contract to sell nawawala ung transfer ng title. Dahil sa contract to sell ang may hawak ng ownership kapag inhouse yan ay yung developer paren. What the seller agrees is to fulfill his promise to sell, papasok palang kayo sa contract of sale.
PD 957: SUBDIVISION AND CONDOMINIUM BUYERS' PROTECTIVE DECREE
Pwede bang itigil ng buyer ang monthly amortization nya sa house and lot in case na hindi matapos ng developer ang construction nito on time?
Answer: Ang batas na applicable sa problem na ito ay PD 957 or The Subdivision and Condominium Buyers’ Protective Decree. Ito ay protection laban sa mga fraudulent developer or tulad ng ganitong problema. Ang aim nito ay para masigurado na ang developer ay hindi i-deny ang representation nila sa buyer especially sa construction and maintenance ng road, drainage and other basic requirements….
ergo:
1. Sec. 20 PD 957 provides Time of Competion: 1 year lang po ang construction. If the developer failed to develop the project within the time limit, you may exercise any of the options provided under Sec. 23 of PD No. 957
2. Section 23. Non-Forfeiture of Payments. No installment payment made by a buyer in a subdivision or condominium project for the lot or unit he contracted to buy shall be forfeited in favor of the owner or developer when the buyer, after due notice to the owner or developer, desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium project according to the approved plans and within the time limit for complying with the same. Such buyer may, at his option, be reimbursed the total amount paid including amortization interests but excluding delinquency interests, with interest thereon at the legal rate.”
HDMF/PAG-IBIG
Under the Pag-ibig affordable housing program, ano ang maximum gross monthly income ng up to 750,000 na loan?
Answer: Kapag NCR po kailangan up to 17,500 maximum gross monthly income nyo, outside NCR naman ay up to 14,000 maximum gross monthly income.
Can an Overseas Filipino who lost his Filipino Citizenship acquire properties?
Answer: Former Natural Born Filipino Citizenship who wish to maintain his Foreign citizenship has a statutory privilege to acquire a property and either of the spouses may avail of the privilege under BP 185 (An Act To Implement SEC 15 Of ART 14 Of The Philippine Constitution) and RA 7042 (Foreign Investment Act Of 1991).
UNDER BP 185: 1000sqm for urban or 1 (One) hectare in rural
UNDER RA 7042: 5,000sqm for urban or 3 (Three) hectare in rural
CIVIL CODE
What is the difference between Contract of Sale and Contract to Sell?
Answer: Si contract of sell is not a conditional contract of sale, si contract to sell is simply another contract. Si contract of sale perfected, na-itransmit yung ownership, ibinigay yung property, natanggap ung payment, pwedeng absolute or conditional. Dito sa contract to sell may suspensive condition, pupunta palang tayo sa contract to sell kapag nagbayad ka, so this is a separate contract, hindi pa contrata ng bentahan, intent palang ng pagbebenta. Remember kapag sinabing contract of sale whether absolute or conditional naita-transfer ung title and ownership, dito sa contract to sell nawawala ung transfer ng title. Dahil sa contract to sell ang may hawak ng ownership kapag inhouse yan ay yung developer paren. What the seller agrees is to fulfill his promise to sell, papasok palang kayo sa contract of sale.
PD 957: SUBDIVISION AND CONDOMINIUM BUYERS' PROTECTIVE DECREE
Pwede bang itigil ng buyer ang monthly amortization nya sa house and lot in case na hindi matapos ng developer ang construction nito on time?
Answer: Ang batas na applicable sa problem na ito ay PD 957 or The Subdivision and Condominium Buyers’ Protective Decree. Ito ay protection laban sa mga fraudulent developer or tulad ng ganitong problema. Ang aim nito ay para masigurado na ang developer ay hindi i-deny ang representation nila sa buyer especially sa construction and maintenance ng road, drainage and other basic requirements….
ergo:
1. Sec. 20 PD 957 provides Time of Competion: 1 year lang po ang construction. If the developer failed to develop the project within the time limit, you may exercise any of the options provided under Sec. 23 of PD No. 957
2. Section 23. Non-Forfeiture of Payments. No installment payment made by a buyer in a subdivision or condominium project for the lot or unit he contracted to buy shall be forfeited in favor of the owner or developer when the buyer, after due notice to the owner or developer, desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium project according to the approved plans and within the time limit for complying with the same. Such buyer may, at his option, be reimbursed the total amount paid including amortization interests but excluding delinquency interests, with interest thereon at the legal rate.”
HDMF/PAG-IBIG
Under the Pag-ibig affordable housing program, ano ang maximum gross monthly income ng up to 750,000 na loan?
Answer: Kapag NCR po kailangan up to 17,500 maximum gross monthly income nyo, outside NCR naman ay up to 14,000 maximum gross monthly income.
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