Reviewer for the Legal Aspects of real estate for the Real Estate Broker board.
Contracts in Real Estate
| Document | Purpose |
|---|---|
| Contract to Sell | Conditional sale, title kept until full payment |
| Deed of Absolute Sale | Transfers ownership |
| Lease Contract | Grants temporary use |
Land Registration
The Torrens system registers land titles. A Transfer Certificate of Title (TCT) is strong evidence of ownership.
Tax declarations are NOT proof of ownership — only a registered title (TCT/OCT) is conclusive.
Taxes & Fees
Real estate transfers involve capital gains tax, documentary stamp tax, transfer tax, and registration fees.
Key Laws
Know RA 9646 (RESA), the Civil Code on property, PD 957 (subdivision/condo buyers), and the Maceda Law (RA 6552) protecting installment buyers.
Before your exam, make sure you can confidently explain and apply each of the following:
- Contracts in Real Estate
- Land Registration
- Taxes & Fees
- Key Laws
Re-read any section above where you hesitate, then explain it aloud in your own words — if you can teach it simply, you understand it. Focus your final review on the tables, formulas, and the common-mistake warnings, since those are where most points are won or lost.