Best Commercial Real Estate Lawyers in Pasig

About Commercial Real Estate Law in Pasig, Philippines

Commercial Real Estate refers to properties used for business purposes, such as office spaces, retail stores, or industrial facilities. In Pasig, Philippines, Commercial Real Estate is governed by specific laws and regulations that ensure the legality, transparency, and fairness of transactions in this sector.

Why You May Need a Lawyer

Engaging a lawyer specializing in Commercial Real Estate law can be beneficial in various situations. Some common scenarios where you may need legal assistance include:

• Drafting or reviewing lease agreements or contracts
• Negotiating terms and conditions for property purchase or lease
• Resolving disputes with tenants, landlords, or other parties involved
• Obtaining necessary permits and licenses for commercial property development or renovation
• Understanding and complying with zoning and land use regulations

Local Laws Overview

The following are key aspects of local laws that are particularly relevant to Commercial Real Estate in Pasig, Philippines:

• The Real Estate Service Act (RESA) regulates licensed professionals who practice real estate services in the country.
• The Civil Code of the Philippines governs property ownership, lease agreements, and obligations of landlords and tenants.
• The Urban Development and Housing Act (UDHA) outlines the guidelines for urban development and regulates the development of commercial properties.
• The National Building Code provides regulations on construction, renovation, and safety standards for commercial properties.

Frequently Asked Questions

1. Can a foreign individual or corporation own commercial real estate in Pasig, Philippines?

Yes, under the Philippine Constitution and certain conditions, foreign individuals or corporations can own up to 40% of the total units in condominium projects for commercial purposes. However, owning land is generally restricted to Filipino citizens and Philippine corporations with at least 60% Filipino ownership.

2. How long does a commercial lease usually last in Pasig?

Commercial lease durations in Pasig can vary, but it is common for leases to be signed for a minimum of three to five years. The terms can be negotiated between the landlord and tenant based on their specific needs and requirements.

3. What are the typical costs associated with purchasing commercial real estate in Pasig?

In addition to the property's purchase price, buyers should consider expenses such as documentary stamps tax, transfer tax, registration fees, and legal fees. It is advisable to consult with a lawyer and conduct due diligence to properly estimate all costs involved.

4. How can I resolve a dispute with my landlord or tenant in a commercial property?

If a dispute arises, it is recommended to first try resolving the issue through negotiation or mediation. If that fails, you may need to seek legal assistance. A lawyer can guide you through the process and advise on appropriate legal actions, which may include filing a case in the appropriate court or administrative agency.

5. Are there any tax implications related to commercial real estate in Pasig?

Yes, owning or leasing commercial real estate in Pasig may have tax implications. It is essential to consult with a tax professional or accountant to understand and comply with the applicable tax laws, such as property taxes, income taxes, and value-added tax (VAT) obligations.

Additional Resources

For further information and assistance with Commercial Real Estate law in Pasig, Philippines, consider referring to the following resources:

• The Pasig City Business Permits and Licensing Office for local regulations and permit requirements.
• The Professional Regulation Commission (PRC) and the Philippine Association of Real Estate Boards (PAREB) for finding licensed real estate practitioners.
• The Philippine Regulatory Board of Real Estate Service (PRBRES) for guidelines on real estate transactions and regulations.
• Local law firms with expertise in commercial real estate.

Next Steps

If you require legal assistance in Commercial Real Estate in Pasig, Philippines, follow these steps:

1. Identify the specific legal issue or concern related to your commercial property.
2. Research and shortlist reputable lawyers or law firms specializing in Commercial Real Estate in Pasig.
3. Contact the selected lawyers to schedule initial consultations.
4. Prioritize lawyers who have experience in handling similar cases or have good reviews and recommendations.
5. During the consultation, discuss your situation, ask relevant questions, and evaluate the lawyer's expertise and compatibility.
6. Select a lawyer who understands your needs and can provide quality legal assistance within your budget.
7. Engage the chosen lawyer and follow their guidance throughout your legal matter.