Leasehold allows non-Filipinos or foreigners to enjoy a peaceful and stable possession of a real estate property for a considerable price, at a fixed period of time, without necessarily acquiring a title. With the existence of Foreign Ownership of Land restrictions under the Philippine Laws, Leasehold can safely guaranty a foreigner’s right to protect his investment.
Leaseholder of Argao Royal Palms is entitled to hold the property for 25 YEARS and allowed to renew for another 25 YEARS.
Maximum term of leasehold, including renewal, is 50 YEARS.
Yes, under any of the following instances:
1. Leaseholder purchases property within the leasehold period;
2. Assignment of the property to a third person was done during the leasehold term;
3. Transfer of property is allowed within the family line of the leaseholder
As for the House & Lot Units, foreigners can avail of Leasehold Options .
The Condominium Act of the Philippines, R.A. 4726, expressly allows foreigners to acquire condominium units and shares in condominium corporations up to 40 % of the total and outstanding capital stock of a Filipino owned or controlled condominium corporation.
Your content goes here...