Your Guide To Acquiring Property in Binangonan, Rizal

Acquiring property in Binangonan, Rizal is an easy yet arduous feat. Buyers and sellers alike would need to know all the terms and procedures needed for the process so that they won’t be scammed out of their money. This article focuses on all the basic procedures when acquiring property in Binangonan, Rizal so that even those not familiar with real estate procedures will understand it.

As a general rule, only Filipino citizens or businesses with at least 60% Filipino ownership can own land in the Philippines. This is true for all transactions that happened after the 1935 Constitution. After the constitution, however, foreigners can only acquire land if they are the legal heir of the land owners, if they only own 40% of it, and if they are former natural-born Filipino citizens. The latter, however, can only buy up to 1 hectare of agricultural land or 1,000sqm of residential land.

There are also different ways to acquire land—private grant, public grant, involuntary grant, inheritance, reclamation, accretion, and prescription. Private grant is the transfer or private property by the owner, public grant is the acquisition of public domain through patents and government awards, involuntary grant is the acquisition of private property against the consent of the owner, inheritance is acquistion through hereditary succession, reclamation is the filling of submerged land, accretion is acquistion of lands adjoining river banks, and prescription is the acquisition by possession. Any one of these is a legal and legitimate way of acquiring land in Binangonan, Rizal, and in any part of the Philippines.

It is important for every land owner to know that once a property is acquired, they will automatically be entitled to the bundle of rights, which gives them certain rights pertaining to the property. Of course, in exchange for these rights, the owner should practice the steward concept, which means that the owner must exercise these rights not for his own benefit but also for the good of the nation.

For better understanding of real estate in the Philippines, it is best to consult with real estate brokers or other professionals knowledgable in the field.