The sale of real estate is regulated under the Property Registration Decree (Presidential Decree 1529), whilst the sale of condominiums is under the purview of the Condominium Act (Republic Act 4726). The Land Registration Authority (LRA) is the main governmental body in charge of land registration in the Philippines. It provides the public with access to the Land Register containing particulars of registered property transactions for private lands in the Philippines.
Members should note that there are restrictions on foreign ownership of private residential property in the Philippines. Foreign persons (including natural persons and corporations) are restricted from purchasing private lands, except if such foreign person (natural person only) was formerly a natural-born Philippine citizen.
Approval will have to be obtained from the Minister for Law to purchase a restricted residential property.
Sellers who are licensed as an agent, broker, or other licensed real estate professional must ensure that their item description conforms to all laws and regulations applicable to online advertising of properties by such licensees. These requirements may include, among other things, disclosure of the licensee's name and address, any firm with which the licensee is affiliated, location of principal place of business, and the jurisdiction(s) where the licensee is licensed.