Most people know that when someone passes away and leaves a property to several heirs, the estate can be settled through an Extra-Judicial Settlement of Estate (EJS). This allows the heirs to divide and transfer the property without going through a lengthy court proceeding. But what if the deceased left only one heir? This is where many people get confused. Since there's no one else to divide or partition the estate with, there's no need for an Extra-Judicial Settlement. Inst

Many lease contracts require tenants to pay advance rent and a security deposit before moving in. Although they are often collected together, they serve different purposes. Advance rent is simply rent paid ahead of time, usually equivalent to two months' rent. Security deposits, on the other hand, are meant to answer for unpaid utility bills, property damage, and other obligations at the end of the lease. It should not be treated as unpaid rent. Here's a mistake I still see i

Question: A Filipino-American buyer who lives in the United States is purchasing a property in the Philippines. To avoid timing issues in remitting funds, the buyer sends the purchase money to a sibling in the Philippines. The sibling then purchases a Manager's Check payable to the seller. Would a bank allow this arrangement, considering its AMLA compliance requirements, even though the Manager's Check is being purchased by someone other than the buyer? A: Yes, the bank will

(This is an update to an old post.) Once upon a time, a real estate broker discovered... ...that his own sister had bought a pre-selling residential lot. Through another broker. A project that–he himself was accredited to sell. 😐 True story. Don't worry—he wasn't upset. ... ... ... Okay, maybe just a little. 😂 Lesson: Don't assume your relatives, friends, or acquaintances know that you can help them with their real estate transactions. Sometimes they simply don't know, or i

Last week, I wrote about AI’s potential impact on the Philippine IT-BPM industry after IBPAP lowered its best-case 2028 revenue target by 14%. Someone familiar with the industry shared an important observation: although hiring growth may be slowing, some IT-BPM companies are requiring more office space per employee. The traditional BPO setup prioritized compact cubicles and maximizing the number of seats on each floor. But as the industry shifts toward more complex and higher

Once upon a time, a property sale was finally nearing completion. The sale was financed by a bank. Although the Deed of Absolute Sale had already been signed, the seller would receive the balance only after the title and tax declaration had been transferred to the buyer’s name and submitted to the bank. After several weeks, everything was finally done. The title and tax dec had been transferred and the docs had been submitted to the bank. Only one task remained: collect the s

You know how a buyer or seller suddenly includes their lawyer in a real estate transaction, and what used to be a straightforward closing suddenly becomes a hostage situation? To be clear, I generally welcome lawyers. Good lawyers help. They see risks we may miss. And yes, they usually know more about the law than brokers do. But every now and then, you encounter the other kind. The kind who does not just make the transaction difficult...but impossible. I have seen a lawyer d

Here’s a simple but useful tip for managing rental properties more efficiently: Before a tenant moves in, take clear photos of the model numbers and serial numbers of all major appliances. Why? Because when an appliance stops working, the repair process often looks like this: The tenant reports the problem. The broker or property manager contacts the service center. The service center asks for the model number. The broker asks the tenant to send a photo of the sticker or labe

If you've been in real estate long enough, you've probably encountered this rule: "No digital door locks." The explanation I've heard from PMOs is that all main door locks should look uniform. I never really understood that. The only people who regularly see your door lock are your neighbors on the same floor and building staff. It's not exactly a design feature that defines the entire building. To be fair, some buildings may also have legitimate concerns about fire safety, e

The EDSA rally yesterday — and apparently today — made me think about something I had never really priced into real estate before. For decades, EDSA has been a political stage. When people are angry at government, one of the symbolic gathering points is the EDSA Shrine / People Power Monument area. That is part of its history. If this happens once every 20 years, maybe it does not matter much from a real estate perspective. But what if it happens more often? What if “EDSA pro