Fundamentals Of Property Ownership RIGHT TO OWN 1. General Rule - Only Filipino Citizens and corporations or partnerships at least 60% of the capital of which is owned by Filipinos are entitled to acquire land in the Philippines. 2. As exception to the general rule, alien acquisition of real estate in the Philippines is allowed in the following cases: a.. Acquisition before the 1935 Constitution; b.. Acquisition thru hereditary succession. If foreign acquiree is a legal heir; This simply means that when the non-Filipino is married to a Filipino citizen and the spouse dies, the non-Filipino as the natural heir will become the legal owner of the property. The same is true for the children. Every natural child (legitimate or illegitimate) can inherit the property of his/her Filipino father/mother even if he/she does not have any Filipino citizenship. c.. Purchase of not more than 40% interest in a condominium project; d.. Purchase by a former natural-born Filipino citizen subject to the limitations prescribed by Law (Batas Pambansa 185 and R.A. 8179) 3. A Filipino who married an alien retains her Philippine citizenship (unless by her act or ommision, she is deed to have renounced her Philippine citizenship) and may therefore acquire real estate in the Phiippines.
Posted on: Sun, 10 Nov 2013 08:51:18 +0000