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||What are my obligations as owner of real property in the Philippines?
The following are your obligations as owner of real property in the Philippines:
Pay the annual Real Property Tax (RPT) and Special Education Fund Tax (SEFT) on the property;
Comply with the Building Code on its requirements of height, setback, materials specifications etc;
Observe the Subdivision Regulations in case of subdivision projects such as requirements of open space, development specifications and completion;
Comply with the Zoning regulations of a particular area such as restricting the use of a particular area for residential purpose and prohibiting its use for commercial or industrial use;
Comply with the requirements of the Philippine laws on Eminent Domain, Escheat, Easement of Right of Way, taxation and other applicable laws on real estate;
In case of condominium, unit owners are obliged to:
Pay RPT and SEFT on his unit
Share in RPT and SEFT on common area and land
Get insurance on the unit
Share in the payment of insurance premiun on the common areas
Comply with use restriction
Pay condominium and association dues and assessments.