Once upon a time, a tenant was happily renting a house in an upscale village. Everything went well until a strong typhoon hit the city. The storm uprooted the neighbor's tree, and it fell on the house. The roof gave way, rain poured in, and the tenant's expensive furniture was ruined. So who pays for what? Here's how the Civil Code generally answers it. The roof. The lessor is obliged to make the necessary repairs to keep the property fit for its use (Art. 1654). Repairing th

If a relative asks you to sign their home loan with them, ask one question before you pick up the pen: am I signing as a co-borrower or as a guarantor? They sound alike, but they are very different roles. A co-borrower shares the loan and usually shares the property. Think of siblings who buy a beach house together for the whole family. All of them are named on the title, and all of them are on the hook for the amortization. A guarantor (what most people call a co-signer) doe

Your property has 3 different values. RPVARA wants to make it 1. 🏠 Here’s what the new law means for your amilyar/RPT, and why it’s now on pause. Swipe → Save this and share it with a fellow property owner.

Many property owners confuse a Tax Declaration (Tax Dec) with an RPT bill or Official Receipt. They're completely different documents. A Tax Dec is an assessment record issued by the local Assessor's Office. It identifies the property for real property taxation and typically states its location, area, classification/actual use, market value, assessed value, and declared owner. Land and improvements may even have separate Tax Decs. So what is it used for? 1. REAL PROPERTY TAX

Selling property below zonal value? Your VAT might be higher than you think. First, a quick reminder on when VAT even applies. Not every property sale is subject to VAT. If you're selling a personal residential property that isn't part of a business, VAT generally doesn't apply. But if you're selling a commercial property, a unit you rent out, or any real estate held for sale or lease in the ordinary course of business, VAT comes into play. That's when the next part matters.

On July 8, the BIR issued RMC No. 75-2026, answering FAQs on taxation, including several that affect RE transactions. I find this memo particularly useful because it gives practitioners a written basis for challenging interpretations that are inconsistent with official BIR policy. Here are some that caught my attention: 1. The spouse's TIN is not required. It is generally needed only if the property is conjugal property. So take note of the headings ("Sps. A and B" vs. "A mar

If you're involved in RE transactions, take note. A relatively recent change in the BIR's filing process for Capital Gains Tax (CGT) and Documentary Stamp Tax (DST) can create unexpected delays and expose taxpayers to penalties. The Old Process 1. Accomplish the CGT and DST forms using the offline eBIRForms application or by encoding the PDF forms. 2. Print the forms. 3. Pay at the bank. There was no need to wait for any electronic confirmation before payment. The New Process

Imagine selling a property and losing 25% of the gross proceeds to tax. That can happen when Philippine real property is legally owned and sold by a foreign corporation incorporated outside the Philippines that is not engaged in business here. Under Section 28(B)(1) of the Philippine Tax Code, a nonresident foreign corporation is generally subject to a 25% final income tax on gross income from Philippine sources. On the gross amount received from the sale. So if a property is

Here's one thing I learned recently about selling income-generating commercial properties. When a commercial building that has been previously leased out is sold, the transaction doesn't always end with transferring the title and tax declaration. If the previous owner was operating under a business permit, they will also need to formally close their business registration with the local government unit (LGU). Why does this matter? Because when the new owner eventually applies

Losing your property title sounds like a nightmare—but it happens more often than you think. Fires. Floods. Theft. Or simply misplaced over time. So what actually happens when your title is gone? -- First, understand this: Under the Torrens System (land registration system), every titled property has two copies: 1. The Original Certificate of Title (kept by the Registry of Deeds) 2. Owner’s Duplicate Certificate of Title (what you hold) This setup protects ownership even if o