Philippine Real Estate Glossary: 40+ Terms Every Buyer Must Know (TCT, CCT, DST, RFO, Maceda…)

Philippine real estate runs on a thick layer of acronyms and legal terms — TCT, CCT, DST, eCAR, RFO, amilyar — and a single misread word can cost a buyer real money. A "Contract to Sell" is not a "Deed of Sale." A "Tax Declaration" is not a title. A unit that is "pre-selling" is not one you can move into.

This glossary collects the 40-plus terms a Philippine property buyer actually runs into, grouped so you can find them fast. Keep it open while you read a contract, a listing, or a developer's brochure. Each definition is plain-language and current as of 2026; for the law-heavy ones, treat this as orientation, not legal advice.

Titles and ownership documents

• OCT (Original Certificate of Title) — the first Torrens title ever issued for a parcel of land that was never previously registered, created through original registration (for example, a land patent or judicial titling).
• TCT (Transfer Certificate of Title) — the title issued by the Registry of Deeds each time registered land changes hands; it cancels the previous title and names the new owner. This is your proof of ownership of land.
• CCT (Condominium Certificate of Title) — the title for a condominium unit. It covers your unit (its airspace) plus a proportionate share of the common areas — but not the land underneath, which the condominium corporation owns.
• TCT vs CCT — a TCT conveys land (and what is built on it); a CCT conveys a condo unit plus a share of common areas, with the land held collectively. If you are buying a condo, you should receive a CCT, not a TCT.
• TD (Tax Declaration) — a document from the local Assessor's Office stating a property's assessed value for tax purposes. It proves possession and tax liability — it is not a certificate of ownership. A "title" that is only a Tax Declaration is a red flag.
• Deed of Absolute Sale (DOAS) — the final, notarized contract that immediately transfers ownership from seller to buyer upon signing. This is the document that actually conveys the property.
• Contract to Sell (CTS) — a conditional agreement where the seller keeps ownership until the buyer finishes paying. You occupy and pay, but you do not own until the price is settled and a Deed of Absolute Sale is executed.
• Deed of Assignment — a document transferring one party's rights (and obligations) over a property or contract to another. It is the usual instrument in pasalo / assume-balance deals.
• Clean title — a certificate of title free of liens, claims, or annotations; undisputed ownership. Developers are obliged to deliver one within a year of full payment.
• Encumbrance / annotation — a claim or burden recorded on a title (a mortgage, adverse claim, easement, or court notice). "Annotation" is the act of writing it onto the title. Always read the annotations before buying.
• Lis pendens — an annotation warning that the property is the subject of a pending court case; anyone who buys takes it subject to the outcome. Avoid.
• Easement — a real right that burdens one property for the benefit of another (a right of way, drainage, or light and view), often annotated on the title.
• Right of way — an easement giving someone the legal right to pass through part of the land, usually for access.

Taxes and fees

• CGT (Capital Gains Tax) — a 6% final tax on the higher of the selling price or fair market value when capital (non-business) real property is sold; customarily the seller's, filed on BIR Form 1706.
• DST (Documentary Stamp Tax) — a national tax of 1.5% of the higher of price or fair market value on the transfer document; filed on BIR Form 2000 / 2000-OT, customarily the buyer's.
• Transfer Tax — a local tax on the transfer of ownership: up to 0.5% of price/FMV in provinces and up to 0.75% in cities and Metro Manila, paid to the LGU before the title can be registered.
• Registration fee — the Registry of Deeds fee to register the new title, on the Land Registration Authority's sliding scale (roughly 0.25%–1% of value).
• RPT / amilyar (Real Property Tax) — the annual local tax on real property (1% of assessed value in provinces, 2% in Metro Manila, plus the Special Education Fund), billed to whoever holds the Tax Declaration. "Amilyar" is the everyday word for it.
• Zonal value — the BIR's official minimum per-square-metre value for an area, used as the floor for computing national taxes like CGT and DST.
• FMV (Fair Market Value) — the price a property would fetch between a willing buyer and seller; for tax, the BIR uses the highest of zonal value, LGU fair market value, and the actual price.
• CAR / eCAR (Certificate Authorizing Registration) — the BIR's clearance (now electronic) confirming the transfer taxes are paid. The Registry of Deeds will not transfer title without it.
• BIR Form 1706 / 2000 — Form 1706 is the Capital Gains Tax return (filed within 30 days of sale); Form 2000 / 2000-OT is the Documentary Stamp Tax return for the same transfer.
• Condo dues / association dues — mandatory monthly contributions from unit owners that fund the upkeep, security, and operation of common areas, usually charged per square metre of the unit.

The buying process

• Pre-selling — buying a property while it is still under construction (or not yet built), usually at lower introductory prices and longer terms than a finished unit — with construction-delay risk.
• RFO (Ready For Occupancy) — a completed property available for immediate move-in or turnover, the opposite of pre-selling.
• Turnover — the handover of the finished unit's possession from developer to buyer, typically a few months after the equity is paid and papers are processed.
• Reservation fee — an upfront, usually non-refundable payment (commonly ₱20,000–₱50,000) that holds your chosen unit at a set price while you complete the paperwork; normally deducted from the price.
• Spot / spot cash — paying the full price (or remaining balance) in one go, usually rewarded with the biggest developer discount.
• Equity — the portion of the price the buyer pays directly (often 10%–30%, as down payment plus monthly equity) before financing covers the rest.
• Floor area — the measured interior area of a unit or structure in square metres; it drives both the price and the basis for condo dues.
• Lot area — the measured land area of a parcel as stated on its title, distinct from the floor area of any building on it.
• Common areas — the shared parts of a condo or subdivision (lobbies, hallways, elevators, pools, gardens) owned and maintained collectively by all owners.

Financing

• Pag-IBIG — the government Home Development Mutual Fund, which gives members affordable housing loans (up to ₱10 million, terms up to 30 years). See our Pag-IBIG housing loan guide.
• HDMF (Home Development Mutual Fund) — the official name of the Pag-IBIG Fund.
• Amortization — the periodic (usually monthly) loan payment that gradually pays down principal and interest over the loan term, sometimes including insurance premiums.
• MRI (Mortgage Redemption Insurance) — group life insurance attached to a housing loan that pays off or reduces the outstanding balance if the borrower dies or becomes totally and permanently disabled during the term.
• Pasalo / assume balance — taking over the remaining loan balance and rights of an original borrower; legally a novation requiring the lender's (for example Pag-IBIG's) written consent. Read the full pasalo guide.
• Rent-to-own — a lease-to-buy scheme giving the occupant the option to purchase within a set period; in Philippine practice it is usually a low-entry installment purchase where you are a buyer from day one, not a true tenant. See rent-to-own condos.

Laws, agencies, and key documents

• Maceda Law (RA 6552) — the Realty Installment Buyer Protection Act (1972). It protects buyers of residential real estate paid on installment, giving grace periods and, after two or more years of payments, a refund of at least 50% of payments made if the contract is cancelled. It does not cover leases or fully mortgage-financed loans.
• PD 957 — the Subdivision and Condominium Buyers' Protective Decree (1976), which regulates developers, requires a License to Sell, and obliges delivery of a clean title within one year of full payment.
• DHSUD (ex-HLURB) — the Department of Human Settlements and Urban Development, created in 2019, now the regulator of housing, subdivisions, and condominium projects. It absorbed the former HLURB.
• NHA (National Housing Authority) — the government agency for housing production and resettlement, which historically held housing-regulatory functions now under DHSUD.
• License to Sell (LTS) — the DHSUD license a developer must hold before it can legally sell, advertise, or market subdivision lots or condo units. Verify it exists for your specific project and phase.
• Registry of Deeds (RD) — the government office, under the Land Registration Authority, that registers deeds, issues and cancels Torrens titles, and records annotations.
• SPA (Special Power of Attorney) — a notarized document authorizing a named agent to act for the owner on specific matters (such as selling or mortgaging). Essential for OFWs buying from abroad — see our SPA guide.
• Notarization — the formal acknowledgment of a document before a notary public, which turns a private deed into a public instrument. Documents affecting registered land generally must be notarized and registered to bind third parties.

Use the terms, then check the numbers

Once you know these terms, you can read the contract yourself instead of taking a salesperson's word for what it says. The next step is the math: compare any price against the price per square metre by city and run a quick property valuation before you sign. Our complete guide to buying property in the Philippines walks through where each of these terms shows up in the actual transaction.