From a reader:
Open letter to Attorney Alvarado, head of the SBMA Regulatory Group-
Dear Atty Alvardo,
Please confirm or deny the correctness of the speculation that the Certificates of Ownership of Leasehold Rights to be issued by SBMA will be for a term LESS than the remaining term of the leaseholder's lease, as is suggested by the following section (in Part III, Rule 2 of those Rules) of "Implementing Rules and Regulations Registry of Certificate of Ownership of Leasehold Rights (Registry Office)" :
Section 7. Validity – All certificates of ownership of leasehold rights shall be valid for a period stated on the face thereon and shall be renewable (i) upon approval of the Board; (ii) payment of the prescribed fees; and (iii) submission of the required supporting documents.
A concerned leaseholder
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