OWNERSHIP of Real Estate in the Philippines
Only Filipino Citizens and corporations or partnerships of atleast
60% of the capital is owned by Filipinos are qualified to acquire a land.
EXCEPT:
- Prior to the 1935 Constitution, acquisition;
- Hereditary succession facilitates acquisition. If the foreigner is the legal heir subject to sharing under Philippine Land Inheritance Law.
- Acquisition of a condominium unit representing no more than 40% of a condominium project.
- Purchase by a former natural-born Filipino subject to the restrictions imposed by the law as outlined in Batas Pambansa 185 and R.A. 8179
