PSE Points to Ponder

A Philippine Real Estate Investment Trusts (REIT) is a stock corporation established in accordance with the Philippine corporation code. The present corporation code in the Philippines is Republic Act No. 11232 (RA 11232). For purposes of clarity, a REIT, although designated as a “trust”, does not have the same technical meaning as “trust” under existing laws but is used for the sole purpose of adopting the internationally accepted description of a company owning income-generating real estate assets in accordance with global best practices. A Philippine REIT is not a “trust” created under trust laws of the country but a corporation created in accordance with the corporation code. What make a corporation a Real Estate Investment Trusts (REIT) is governed by the Republic Act No. 9856 (RA 9856) known as “The Real Estate Investment Trust (REIT) Act of 2009.” The law was enacted to to promote the development of the capital market, democra...

The replacement of a lost owner’s duplicate Certificate of Title of a parcel of land is governed by Section 109 of Presidential Decree No. 1529 (PD 1529) known as the Property Registration Decree. To sum it up the following are the requirements: The owner’s duplicate Certificate of Title must have been actually lost. This is the most important thing. If the owner’s duplicate Certificate of Title has not been lost but in the possession of some other person then the replacement owner’s duplicate Certificate of Title is void. The person in possession of the owner’s duplicate Certificate of Title can petition the court to have the replacement Certificate of Title be void from the very beginning. This is undisputed and held by the Supreme Court as a well settled rule. The Supreme Court has enunciated this rule in the case of Straight Times, Inc. versus the Court of Appeals wherein it said that when the owner’s duplicate certificate of title has not been ...

Remittance of contributions to the Social Security System (SSS) for the Month of February, March and April 2020 will be extended until June 30, 2020. The country were on strict quarantine on the middle of March 2020 and has just recently started to ease the quarantine measures and the SSS has understand the predicament of small businesses to fund the contributions during those times especially that most of the small businesses were also on shut down during those periods and most revenue of small businesses has gone down to nil.