A CCT is not a TCT
Most Makati transactions involve a Condominium Certificate of Title, not a Transfer Certificate of Title, and the difference is substantive. Buying a unit gets you the unit itself, an undivided interest in the common areas, and membership in the condominium corporation — which is what makes you liable for assessments. Registration is with the Register of Deeds of Makati, and transfer taxes are settled with the Makati City Treasurer.
The two traps that are specific to condominiums
- Unpaid assessments are a LIEN on the unit, not a personal debt you can walk away from. The condominium corporation may enforce that lien by foreclosure, in the same manner as a real estate mortgage. Before buying, demand a current statement of account from the corporation — arrears follow the unit.
- The 40 percent foreign ownership cap. Foreign nationals may own condominium units, but foreign ownership in a condominium project cannot exceed forty percent (40%) of the total. A project already at the cap cannot validly sell to another foreign buyer, and this must be checked with the corporation before payment, not after.
High-value transfers concentrate the tax exposure
The tax sequence is the same everywhere, but Makati values make the consequences of slippage larger. Capital gains tax within thirty days of the sale, documentary stamp tax by the fifth day of the month following notarisation, both counted from the date of notarisation — then the Makati transfer tax and RPT clearance before the Register of Deeds will act. On an eight-figure sale, a missed deadline turns into a surcharge and interest bill that dwarfs any fee saved by handling it informally. Our title transfer cost calculator gives the full figure before you commit.
Frequently asked
Can a foreigner buy a condominium in Makati?
Yes, subject to the rule that foreign ownership in the condominium project cannot exceed forty percent of the total. Confirm with the condominium corporation that the project is below the cap before paying.
Do unpaid condo dues transfer with the unit?
Effectively yes. Assessments duly made constitute a lien on the unit which the condominium corporation may enforce by foreclosure, so obtain a current statement of account from the corporation before buying.
What is the difference between a CCT and a TCT?
A Condominium Certificate of Title covers a unit plus an undivided interest in the common areas and carries membership in the condominium corporation. A Transfer Certificate of Title covers land.
Where do I register a Makati property transfer?
With the Register of Deeds of Makati, after paying capital gains tax and documentary stamp tax with the BIR and securing the eCAR, and settling the transfer tax and real property tax clearance with the Makati City Treasurer.