Country Manager Atty. Carla Patrice Cucueco sat down with CCG’s own Ms.Gale Caole. They discussed legal aspects when it comes to purchasing real estate properties because it is always wise to protect your rights as well as your investments.
With that being said, here are some of the few questions that Atty. Cucueco discussed.
Are former Filipinos allowed to buy a house and lot properties in the Philippines? If yes, what are the requirements?
Atty. Cucueco first clarified that in the Philippines, the constitution does not allow any foreigner to purchase land in the country. However, natural born citizens who have lost their Philippine citizenship may own land in the country subject to the limitations provided by the law.
How about the requirement of a community tax certificate or cedula? Is this still needed to purchase a real estate property?
According to Atty. Cucueco, it is not needed anymore however, any valid government ID will do but for Megaworld purposes it is preferred to use your Philippine passport.
With regards to the filing of documents especially for the clients abroad, what is the need to apostille documents?
Apostillation or consularization are processes to authenticate documents. Contracts need to be apostilled to be accepted by government agencies such as the Bureau of Internal Revenue (BIR) and the Registry of Deeds.
Why does the non-buying spouse must participate in the execution of the documents?
Under the Philippine law, assets and obligations of spouses are generally conjugal or joint unless proven otherwise. Hence, the signature of the spouse, even if non-buying is always required of the government agencies in processing transfer documents of properties.
A few more things were discussed by Atty. Cucueco and they were able to be viewed on-demand on Megaworld’s online expo.