JAB Realty Services, Brokerage and Appraisal

11/03/2024

In this video, explain the difference between:In behalf of vs. On behalf ofCelebrant vs. CelebrantTake the quiz at the end of each lesson! ...

10/07/2019

Fundamentals of Land Titles and Registration

Torrens System March 7, 2016fundamentals of land title and registrationrealestatelawyer What is land registration? Land registration is a judicial or administrative proceeding whereby a person’s claim of ownership over a particular land is determined and confirmed or recognized so that such land a...

08/07/2019

FYI

Title vs. Tax Declaration

CERTIFICATE OF TITLE
- A document evidencing a right of ownership to a property
- A document that attest to the fact that the person named is the owner of the property described therein subject to liens and encumbrances noted on it
- It is registered with the Register of Deeds of the province or city where the land is located
- The Certificate of Title is indefeasible and imprescriptible
- All claims to the land are quieted upon issuance of this document
- Recorded with the Register of Deeds of the municipality, city, or province where the land is located

TAX DECLARATION
- A document that show good sign of possession only in the concept of owner, not ownership
- Not conclusive evidence of ownership to property, but only a proof of payment of realty taxes
- Recorded with the Assessor’s Office of every municipality or city where the land is located

Compiled by Atty. Richelle Berdos Rubi

18/02/2019

Available property for sale: Lot only
Name of Project: Futura Homes Mactan Lot Only, more or less 126 square meters
Location: Suba Bas-Bas Lapu-Lapu City

Landmarks/Accessibility:

- 6 minutes going to Cordova Public College
- 4 minutes going to Our Lady of the Sacred Heart Parish
- 6 minutes going to Gaisano Grand Mall, Mactan
_ 11 minutes going to Mactan Doctor"s Hospital.

Transportation Details:

-Tricycle from the subdivision going to National Highway
- PUJ ( Public Utility Jeepney) going to malls, hospitals and schools.
Selling Price : 1,525,700.00

Puede installment:

Interested buyers who wish to invest property in Cebu or want to live there for good, or build a house for study, work or vacation, you may call or PM Jeffy A. Baluran at Jeffy B. Real Estate and Urban Planning Services.

REB License No. 26435;
HLURB LIcense No. NMR9-B-02/19-505
PTR No. 1806329
CP No. 09556440047
Email add: [email protected]

12/02/2019

02/02/2019

#5 Real property 'Zonal Values' are Tables of values for BIR taxation purposes and applicable when a property is transacted on the sale block.
Here, land will have graduated values depending on the land classification which a certain property may belong to such as, but not limited to: commercial, industrial, residential, agricultural, industrial and their variants.
'Where' a property is located also influence a zonal value. Properties in urban settings commands higher values than in rural areas. Location within a locality also determines desirability that positively impacts its value such as beach front sites.
Properties on sale may have higher or lower agreed transaction price than its zonal value. In this case, the BIR will base its 6.5% 'capital gains' tax computation at the value which is higher of the two -transaction price or the zonal value per square meter; and, factoring the 6.5% at the higher computed taxable amount to arrive at the capital gains charge.
Zonal values are updated once every three years. As it is,
the table remains one of the main basis for arriving at the appraisers' cost approach to valuation.

29/01/2019

#4 There will always be a price to pay for commodites we desire to purchase; and such from the buyers' viewpoint -acquisition cost.
Appraisers use a method of property valuation from this viewpoint called Cost Approach to valuation.
Here we value the real property and its improvements largely on a per square meter, same as we do on the 'Market Data Approach;' it looks simple because we factor it against preset standards.
The preset standard for land valuation is primarily the BIR Zonal Valuation per square meter hand-in-hand the Land Assesments of the LGU.
The preset standard for improvements is the cost at the level of quality of material, say, building built new, less depreciation. Class 'A' built building will have a higher value compared to those built of light mayerials.
There are numerous variations to this basic cost concept on the land improvement, each variant used depends on the data available to the appraiser.
Appraisers will present their cost approach report seeminly simplistic, done in an easy-to-understand manner so that the ordinary person will have a clear understanding -but at a level of skill and expansive thinking to make a precise, accurate report be submitted.

27/01/2019

Friendly reminder Friendship... May PTR naba ang Lahat? Professional Tax Receipt...then atong PRC, then HLURB, then, BIR, then Business Permits..and updated OR NATO... Then Association Membership, and CPDs to Attend. YEARLY. :)

:) January, moves so Fast and Daghang e Renew, daghang Bayronon mga Friendship.

Kasi our LEGAL Responsibility as Real Estate Practioners, are not Only to the 1 Association Membership, But to the 2 Public, to the 3 Government, to the 4 Colleagues, and to the 5 Client.

Friendly reminders Friendship. :) Hehehe! AKO pod Maningkamot pa..
KAYA NATIN TO.

HAPPY SELLING TO US ALL! :) GOD BLESS!

27/01/2019

Attention to All Real Estate Professionals and Real Estate Salespersons. . .

Kindly strictly comply Section 29 & 38 of RA #9646. Report to PRC-PRBRES any violations. Rest assured it will be acted promptly. Screen shot or picture all forms of advertisements.

RA #9646 penalized illegal Real Estate Practitioners. Only those who complied Section 29 of RA #9646 are allowed to practice the real estate profession.

For the Public. . .Beware of illegal real estate Practitioners. Ask their PRC ID and check their ads if compliant with Section 38,RA #9646. If not get their informations and report at Professional Regulation Commission (PRC) Office or at NBI Office.

Pls. beware with illegal Real Estate Practitioners and be vigilant.

Thank you.

27/01/2019

What makes the word 'interest' pivotal to a good appraisal? Answer: It serves as a kingpin of a difference in the making of a veritable income approach to value.
Interest is defined by business as a charge paid by borrower to a lender for the use of the lender's money. It is expressed as a percentage rate over a period of time.
Interest also appears on an appraisal and used according to the above definition, as an input in resolving the 'Capitalization Rate' to be applied on the income approach to valuation. However, such rate refers to the prevailing standard bank rate at the time of appraisal, often pegged at 8% per annum. Thus, broadly speaking -this means the 'cost of money' per banking standards.
Along with 'interest' appraisers also bundle with it the 'inflation rate,' and percent allotment to 'business risks' inherent to the property subject to appraisal; The sum total in percent is our Captalization Rate.
From here, we arrive at a ratio between Net Operating Income and the Cap Rate resulting to a value rendered from the process of income approach.
This one process as above described can give appraisers a value specially applicable to commercial properties - influencing the final valuation by as much as fifty percent.
One more thing. Real properties revaluate upwards all the time -this can be explained due to business 'interest' built-in to properties that last forever such as land. But, as said above, 'interest' is the subject of another definition.
I will discuss Cost and how appraisers use it on the next issue.

11/08/2018

Donations between spouses

Husband and wife can’t legally donate property to each other
1
By The Manila Times on May 30, 2016 DearPao
Twitter
Persida Acosta

Persida Acosta

Dear PAO,
My Tito and Tita are celebrating their silver wedding anniversary. In their celebration, my Tito donated a vacation house in the province to my Tita as a grand gesture of love, and as a gift to her. In processing this donation, my Tito was informed by someone close to him that he cannot donate such property to my Tita since it is illegal.

Is this true? Is there really any law prohibiting my Tito to donate a property to my Tita even though they are validly married? Can my Tito’s gift of donation to his wife be questioned? And if so, are there any exceptions to this rule? Thank you for any advice. God bless!
Cris

Dear Cris,
In the law of property relations between husband and wife, particularly on the subject of donations between married couples, there is a specific provision that prohibits donation between husband and wife. According to Article 87 of the Family Code of the Philippines:

“Art. 87. Every donation or grant of gratuitous advantage, direct or indirect, between the spouses during the marriage shall be void, except moderate gifts, which the spouses may give to each other on the occasion of any family rejoicing. The prohibition shall also apply to persons living together as husband and wife without a valid marriage.” (Emphasis supplied)

As specifically stated by this law, acts of donations between spouses are considered void. Thus, since your Tito and Tita are married couple, they cannot legally donate pieces of property to each other.

The exception to this prohibition is for donations of moderate gifts given in time of celebrations. In your situation, while your Tito decided to donate to your Tita a vacation house to celebrate their wedding anniversary, the nature and value of the gift involved is material in considering whether it can be legal. This is because the exception for donation between married couple applies only to moderate gifts; and giving a vacation house is hardly a moderate gift. In fact, it can be considered as a substantially extravagant gift. As such, it is still within the ambit of the prohibition on the donation between spouses.

Because of this prohibition, the donation of your Tito to your Tita shall be considered void and without legal effect even with an executed deed of donation. Furthermore, it is important for you to know that donations executed in contravention to this statutory prohibition can be questioned by any affected party or person having rights on the donated property. (Harding v. Commercial Union Assurance Co., 38 Phil 464) Thus, by express provision of the law, your Tito cannot donate such property to his wife.

Again, we find it necessary to mention that this opinion is solely based on the facts you have narrated and our appreciation of the same. The opinion may vary when the facts are changed or elaborated.

We hope that we were able to enlighten you on the matter.

Editor’s note: Dear PAO is a daily column of the Public Attorney’s Office. Questions for Chief Acosta may be sent to [email protected]