Bits and pieces of information have been circulating thru SMS messages and social media about the Land Registration Authority's (LRA) title standardization program. What is this about and how does this concern property owners? Land Titles: Manually-issued Certificate of Title The classic version of the Certificate of Title looks like an ancient Egyptian manuscript … Continue reading Title to your land: What is the LRA’s Voluntary Title Standardization Program?
UNFAMILIAR FACES An exclusive and gated village circulated a memorandum that reads: "All lot owners/lessors shall first register their Chinese lessees with the Homeowners Association office before moving in." Upon further inquiry behind the memo, it revealed that numerous houses have been leased out, sometimes with a 1 or 2 year deposit, to mainland Chinese … Continue reading What you should do to prevent your Property from Being Converted into a Workers Dormitory.
Purchasing your dream home can become a nightmare when you start paying the monthly equity but cannot secure a loan to cover the balance. Things get a little tricky when buyers are caught in the developer's hook, and dragged to a point of no return. No Title, No Problem? Once you've made all the necessary … Continue reading No Title, No Loan: It’s Difficult to Get a Bank Loan Without a Land Title
The Philippine property market has been enjoying a meteoric rise these past ten years, concentrated mainly in the highly urbanized areas of the National Capital Region, Provinces of Batangas, Cavite, Laguna, Cebu and Davao. With this boom in the inventory of housing units, buyers should be aware of their rights and exercise diligence before parting … Continue reading 5 Things to Look Out for When Buying a House or Condominium Unit
Condominium dwellings make up a substantial percentage of households in highly urbanized cities like Metro Manila. Students, young professionals and a lot of modern families have opted to stay in condominium units because of its prime location and the rising prices of residential lots adjacent to the cities. With this option to live in a … Continue reading Read This if Your Newly Bought Condominium Unit Has Cracks on the Walls, Unfinished Paint, or Broken Fixtures.
Delay in Turnover One of the most common woes that subdivision or condominium unit buyers have is the delay in the turnover of their property. Most if not all developers spend millions in their pre-selling activities, luring buyers to make that down payment. When reality kicks in however, these buyers say goodbye to their hard … Continue reading Tired of the Wait? What You Can Do in Case Turnover of Your Property is Delayed
Automatic Membership in a Homeowners Association In modern subdivision projects, it is common for a buyer to encounter a provision or restriction in their land title stating that they become members of the homeowners association at the time they purchase the property. If freedom of assembly is protected by our Constitution, involuntary membership to a … Continue reading Is Your Homeowners Association Giving you a Hard Time? Read This and Know Your Rights