Because there are limitations in the Philippine Law, a foreigner cannot own a property in the Philippines. But because the Elysium is covered by the regulations of CCT (Condominium Certificate of Title) applied to townhouses and condominiums, the 40% of the ownership on the Townhouse can be registered under the name of a foreigner.
The land and the common facilities of the Elysium is owned by the Elysium Community Condominium Corporation which in turn is owned by all of the unit owners. And each unit owner has the equal share of rights for the ownership.
This system is similar to the Condominium Laws that is applied in Japan
and other countries.
