May a person who has acquired residential land under BP. 185 still acquire lands to be used for business purposes under RA 7042 and RA 8179?

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May a person who has acquired residential land under BP. 185 still acquire lands to be used for business purposes under RA 7042 and RA 8179?

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Q4. May aliens or former Filipinos own condominium units in the Philippines? Q5. What is the difference between the terms “Estate” and “Real Estate”? Q6. May a husband and wife sell property to each other? Q7. May a property owned by a minor (under 18 yrs) be sold? Q8. What factors must a person generally consider prior to buying property in the Philippines? Q9. When must capital gains taxes and documentary stamp taxes on property sold be paid? Other transfer taxes? Q10. What things must a buyer bear in mind regarding Special Powers of Attorney (SPA) to sell property? Q11. What should the buyer do when the seller is not able to show the owner’s copy of the title? Q12. What if the seller shows a reconstituted title? Q13. If the title indicates that the seller is different from the owner’s name or there are co-owners or co- heirs? Q14. What is the difference between “Option Money” and “Earnest Money”? Q15. Is there title insurance in the Philippines?

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