Are Foreigners Allowed to Own Philippine Real Estate Properties?
While it is true that the Philippine laws restrict foreigners from buying and owning real estate properties in the Philippines, the constitution has stated certain exceptions allowing non-Filipinos to have their names written on authentic land titles in the country.
Under the following circumstances, foreigners are permitted to own even a piece of property in Philippines:
1. If the parent/s or any ancestor of the foreigner is a Filipino, and s/he was given a real estate property to inherit, the Philippine law will permit the transfer. The same principle applies to foreign spouses who inherit real estate properties from their deceased Filipino spouses.
2. The ownership of a Filipino over the real estate propertiess/he acquiredbefore migrating to other countries and changing citizenship will not be revoked. The right over the real properties will remain unless relinquished through selling or bequeathing.
3. For former Filipinos, buying a house and lot for sale in the Philippines €" other than what they owned prior to their naturalization - is possible only if they retain their being a Filipino through dual citizenship.
4. Former natural-born Filipinos are also permitted to buy properties in the Philippines which will not exceed 5,000 square meters (urban) or 3 hectares (rural) provided that the property will be used for business or commercial properties only. In the event that the land property in Philippines which will be purchased is residential, it should not exceed 1,000 square meters (urban) or 1 hectare (rural).
5. By marrying a Filipino citizen, foreigners are granted the right to acquire real estate properties as long as the Filipino spouse retains his/her Filipino citizenship. This is a rule which is subjected to marriage settlements.
6. Any Philippine land ownership which happened prior to the abolishment of the 1935 Constitution cannot be rescinded. Foreigners keep their proprietorship of the Philippine land despite the changes in the law.
The law clearly implies that whatever is in the Philippines is owned and are rightfully for the Filipinos. But there is always an exception to any law; and in this case, there are exceptions. So in case foreigners would want to own La Union real estate, there are still chances to do so. However, it has to be kept in mind that circumventing the law is strictly prohibited.
However, it has to be understood that not all La Union properties for sale are worth the purchase. So in order to get things right, here are a few tips to consider in settling the deal in buying a property in Philippines:
1. Consider the location. A real estate property is considered in a good location if nearby are different establishments which are necessary for everyday living. It has to be near department stores, supermarkets, places of worship, schools, and hospitals so that if the need arises, you would not have a hard time finding the right amenities.
2. Make sure that the community is peaceful. It is a common knowledge that what you become is influenced by your community. So in finding a La Union house for sale, you have to consider the nature of your surroundings. It should have calm atmosphere and quiet surroundings.
3. If buying a beach property for sale in La Union, make sure that the house is located close enough to the shores for easy access to the water; and far enough, in case of emergencies.
4. Houses for sale in the Philippines - particularly in La Union - should be in good condition, especially if it is second-hand.
5. If buying a newly developed house and lot, check whether the developer you're buying it from is legitimate. Serious problems may arise if the land developer or agent is illegal. Thus, it is better to check from the local registry if the company or people you're dealing with are good to be trusted. It may require a lot of legworks but it is better safe than sorry. To further prove the legality of your transaction, you can also ask for authentic copies of the title deed. In the event that you are buying second-hand properties, demand for an original copy of the Transfer Certificate Title, and check it on the Registry of Deeds.
It is important to consider the above-mentioned tips in purchasing La Union properties. After all, you are buying a home €" and since you will be living in it, you deserve only the best.
Under the following circumstances, foreigners are permitted to own even a piece of property in Philippines:
1. If the parent/s or any ancestor of the foreigner is a Filipino, and s/he was given a real estate property to inherit, the Philippine law will permit the transfer. The same principle applies to foreign spouses who inherit real estate properties from their deceased Filipino spouses.
2. The ownership of a Filipino over the real estate propertiess/he acquiredbefore migrating to other countries and changing citizenship will not be revoked. The right over the real properties will remain unless relinquished through selling or bequeathing.
3. For former Filipinos, buying a house and lot for sale in the Philippines €" other than what they owned prior to their naturalization - is possible only if they retain their being a Filipino through dual citizenship.
4. Former natural-born Filipinos are also permitted to buy properties in the Philippines which will not exceed 5,000 square meters (urban) or 3 hectares (rural) provided that the property will be used for business or commercial properties only. In the event that the land property in Philippines which will be purchased is residential, it should not exceed 1,000 square meters (urban) or 1 hectare (rural).
5. By marrying a Filipino citizen, foreigners are granted the right to acquire real estate properties as long as the Filipino spouse retains his/her Filipino citizenship. This is a rule which is subjected to marriage settlements.
6. Any Philippine land ownership which happened prior to the abolishment of the 1935 Constitution cannot be rescinded. Foreigners keep their proprietorship of the Philippine land despite the changes in the law.
The law clearly implies that whatever is in the Philippines is owned and are rightfully for the Filipinos. But there is always an exception to any law; and in this case, there are exceptions. So in case foreigners would want to own La Union real estate, there are still chances to do so. However, it has to be kept in mind that circumventing the law is strictly prohibited.
However, it has to be understood that not all La Union properties for sale are worth the purchase. So in order to get things right, here are a few tips to consider in settling the deal in buying a property in Philippines:
1. Consider the location. A real estate property is considered in a good location if nearby are different establishments which are necessary for everyday living. It has to be near department stores, supermarkets, places of worship, schools, and hospitals so that if the need arises, you would not have a hard time finding the right amenities.
2. Make sure that the community is peaceful. It is a common knowledge that what you become is influenced by your community. So in finding a La Union house for sale, you have to consider the nature of your surroundings. It should have calm atmosphere and quiet surroundings.
3. If buying a beach property for sale in La Union, make sure that the house is located close enough to the shores for easy access to the water; and far enough, in case of emergencies.
4. Houses for sale in the Philippines - particularly in La Union - should be in good condition, especially if it is second-hand.
5. If buying a newly developed house and lot, check whether the developer you're buying it from is legitimate. Serious problems may arise if the land developer or agent is illegal. Thus, it is better to check from the local registry if the company or people you're dealing with are good to be trusted. It may require a lot of legworks but it is better safe than sorry. To further prove the legality of your transaction, you can also ask for authentic copies of the title deed. In the event that you are buying second-hand properties, demand for an original copy of the Transfer Certificate Title, and check it on the Registry of Deeds.
It is important to consider the above-mentioned tips in purchasing La Union properties. After all, you are buying a home €" and since you will be living in it, you deserve only the best.
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