Under a contract of sale involving real property, the seller is obliged to deliver it and transfer its ownership, upon the buyer’s payment of the price agreed upon. The seller is deemed to have delivered the property when he transfers to the buyer the control and possession thereof, and executes a public instrument evidencing the sale. Besides these obligations, the seller shall warrant the property being sold. In this regard, the Supreme Court referred to the seller’s warranties as statements or representations—contemporaneously and as part of the contract of sale, that refers to the charact ..read more

Resolving Estate Disputes in the Philippines: Legal Perspectives and Mechanisms Introduction Estate disputes in the Philippines can be emotionally charged and complex legal matters. When a loved one passes away, conflicts may arise among heirs and beneficiaries over inheritance rights, property distribution, and management of assets. Such disputes can lead to prolonged legal battles, affecting family relationships and the rightful distribution of assets. This article examines the common types of estate disputes encountered in the Philippines and explores the legal perspectives and mechanism ..read more

According to statistics found online, the Philippines has 154,700 condominium units as of 2023. This number is expected to reach 200,000 units by the end of 2025. Based on this estimate, we can expect 45,000 more condominium units to be built in the next two years. The rise in the number of condominium units has a direct correlation with condo prices. From 2017 to 2023, prices of residential condominium units have increased yearly by an average of about 8.55 percent a year.  The exception was in 2021 when prices decreased by 1 percent. The thousands of condominium units being built and ..read more

The Federal Reserve may finally get the news it has been waiting for since it stopped raising interest rates last year. A resurgence in consumer prices at the start of 2024 raised concerns that the last mile of the road back to the Fed’s 2% inflation target would be the most difficult. Market participants concluded that inflation was “stuck” and pushed out their expectations for interest-rate cuts, at times entertaining the possibility of no cuts at all. A key sticking point has been housing inflation, which is still running about 2.3 percentage points above its prepandemic pace. But April i ..read more

Do you ever wonder where bank loans go? With financial conditions remaining tight, securing bank loans can be more expensive now than ever before for many Filipinos. Data from the Bangko Sentral ng Pilipinas (BSP) show that credit growth in the country has slowed since the start of the central bank’s aggressive tightening against inflation, although outstanding loans of the country’s big banks—excluding their lending with each other—managed to grow at a faster rate of 8.6 percent in February to P11.61 trillion. If we consider the entire Philippine banking system, total outstanding bank loans ..read more

Please be informed of Article 2035 of the New Civil Code, which states that: "Art. 2035. No compromise upon the following questions shall be valid: "(1) The civil status of persons; "(2) The validity of a marriage or a legal separation; "(3) Any ground for legal separation; "(4) Future support; "(5) The jurisdiction of courts; "(6) Future legitime. (1814a)" Based on the above-stated law, there shall be no valid compromise, and, by implication, no waiver of the validity of a marriage. Although Article 6 of the same Code provides that rights may be waived, the said waiver must not be contrar ..read more

The Real Property Valuation and Assessment Reform Act (RPVARA) under Senate Bill No. 2386 was ratified by Congress in March 2024 and is awaiting the President’s signature. The RPVARA—part of Package 3 of the Department of Finance’s (DOF) Comprehensive Tax Reform Program—aims to promote an objective, standardized valuation of real property based on internationally accepted principles. What are the implications when it passes into law? Single value base Real property valuation or appraisal determines the value of real property, and the type of value determined depends on where and how it wi ..read more

A study has revealed a measure of skepticism towards companies declaring climate change objectives. Communications firm Havas Ortega said in its Prosumer Report that only 5% of Filipinos believe that companies are putting in significant effort to reduce their environmental impact. Havas Ortega defines “prosumers” as the 15-20% of the population with the power to shape new attitudes, behaviors, trends, and brands. “Our findings are a dire warning for Filipino businesses and brands amid an escalating climate crisis,” Havas Ortega President and Chief Executive Officer Jos Ortega said. Mr. Ort ..read more

What is electricity pilferage? In the Philippines, electricity pilferage refers to the unauthorized and illegal use of electric power. Let’s break down the specifics: Illegal Use of Electricity: It is unlawful for any person, whether natural or juridical (public or private), to engage in the following acts: 1. Tapping into Electric Lines: Making unauthorized connections with overhead lines, service drops, or other electric service wires without the consent of the private electric utility or rural electric cooperative. 2. Unauthorized Connections: Creating connections to existing e ..read more

The House of Representatives has approved the absolute divorce bill on second reading. House Bill 9349, as amended, was approved through a voice vote during plenary session on Wednesday. The measure aims to "reinstitute absolute divorce as an alternative mode for the dissolution of an irreparably broken or dysfunctional marriage under limited grounds and well-defined judicial procedures," the bill's fact sheet read. Grounds for absolute divorce include physical violence or "grossly abusive conduct," a final prison sentence of over six years; drug addiction, habitual alcoholism, chronic gamb ..read more