WHAT IS A SALN?

1. SALN stands for Statement of Assets, Liabilities, and Net Worth. It is a declaration of assets (i.e., land, vehicles, etc) and
liabilities (i.e., loans, debts, etc), including business and financial interests, of an official/employee, of his or her spouse, and
of his or her unmarried children under 18 years old still living in their parents households. The submission of a SALN is
required by law under Article XI Section 17 of the 1987 Constitution and Section 8 of Republic Act No. 6713, the Code of
Conduct and Ethical Standards for Public Officials and Employees. It includes a waiver authorizing the Ombudsman or his
authorized representatives to attain documents that may show assets, liabilities, net worth, business interests, and financial
connections from all appropriate government agencies.

All public officials and employees, whether regular or under temporary status, are required to file a SALN.

Art. XI Sec. 17 of the 1987 Philippine Constitution

A public officer or employee shall, upon assumption of office and as often thereafter as may be required by law, submit a declaration
under oath of his assets, liabilities, and net worth.

In the case of the President, the Vice-President, the Members of the Cabinet, the Congress, the Supreme Court, the Constitutional
Commissions and other constitutional offices, and officers of the armed forces with general or flag rank, the declaration shall be
disclosed to the public in the manner provided by law.

Administrative Code of 1987, Book 1, Chapter 9, Sec. 34

A public officer or employee shall upon assumption of office and as often thereafter as may be required by law, submit a declaration
under oath of his assets, liabilities, and net worth.

RA 6713, Sec. 8

Statements and Disclosure Public officials and employees have an obligation to accomplish and submit declarations under oath of,
and the public has the right to know, their assets, liabilities, net worth and financial and business interests including those of their
spouses and of unmarried children under eighteen (18) years of age living in their households.

Public officials and employees under temporary status are also required to file under oath their SALNs and Disclosure of Business
Interests and Financial Connections in accordance with the guidelines provided under these rules.

WHEN MUST A SALN BE FILED?

RA 6713, Sec. 8

The SALN must be filed:

1. within thirty (30) days after assumption of office;

2. on or before April 30, of every year thereafter; and
3. within thirty (30) days after separation from the service.

RA 6713, Sec. 8

All public officials and employees required under this section to file the aforestated documents shall also execute, within thirty (30)
days from the date of their assumption of office, the necessary authority in favor of the Ombudsman to obtain from all appropriate
government agencies, including the Bureau of Internal Revenue, such documents as may show their assets, liabilities, net worth, and
also their business interests and financial connections in previous years, including, if possible, the year when they first assumed any
office in the Government.

Identification and disclosure of relatives. It shall of the duty of every public official or employee to identify and disclose, to the
best of his knowledge and information, his relatives in the Government in the form, manner and frequency prescribed by the Civil
Service Commission.
WHAT SHOULD BE FOUND IN THE SALN?

RA 6713, Sec. 8

real property, its improvements, acquisition costs, assessed value and current fair market value;
personal property and acquisition cost;
all other assets such as investments, cash on hand or in banks, stocks, bonds, and the like;
liabilities, and;
all business interests and financial connections.

B.

including those of their spouses and of unmarried children under eighteen (18) years of age living in their households.

C.

Identification and disclosure of relatives. It shall be the duty of every public official or employee to identify and disclose,
to the best of his knowledge and information, his relatives in the Government in the form, manner and frequency prescribed
by the Civil Service Commission.

2. What is a 'Bank Confirmation Letter - BCL'

A bank confirmation letter (BCL) is a letter from a bank or another financial institution confirming the existence of a loan or a line of
credit that has been extended to a borrower. The letter officially vouches for the fact that the borrower whether an individual,
company or organization is eligible to borrow a specified amount of funds for a specified purpose.

BREAKING DOWN 'Bank Confirmation Letter - BCL'

The purpose of a bank confirmation letter, sometimes referred to as a comfort letter, is to assure a third party, generally a seller, that
the borrower has access to sufficient financial resources to complete a transaction, such as the purchase of goods. The confirmation
letter is not a guarantee of payment, only an assurance of the borrower's financial resources to make payment.

A bank confirmation letter serves to assure all concerned parties to a given business deal or transaction that the bank's customer, the
borrower, has, or has available, the necessary financial resources to conclude a specified transaction. Such letters typically require the
signature of representatives of the bank or the financial institution who are specifically authorized to issue such correspondence. Since
a letter of confirmation is issued in regard to a specific transaction or project, it is not transferable to a different transaction or project.
If the bank's customer decides to enter into a different deal or purchase, such as a prospective homebuyer deciding to purchase a
different home than the one specified in a bank confirmation letter, the customer is usually required to obtain a new letter of
confirmation.

Governmental regulations vary from country to country in terms of whether and to what extent a letter of confirmation must state the
specific purpose for which a loan or line of credit is being extended to the borrower.

3. Deed of Sale

A real estate purchase will not be complete without the deed of absolute sale. This legal form transfers property to one party
including property rights. The deed serves as a proof that the transfer occurred. Once you have signed the documents, it
means you have fully understood that all rights to the property will be transferred from the seller to the buyer.

It is also important to note that the deed of absolute sale should have no stipulated conditions attached other than the buyer's
payment.
What is a Declaration of Real Property ?

Declaration of Real Property ( Tax Declaration ) is a property record, which is a traditional assessment document maintained by the
provincial, city or municipal assessors, showing, among others the market and assessed values of the property as the basis for the
collection of real property tax.

Other uses of the Declaration of Real Property is as follows :

1) The zonal value of the property is based on the Barangay where the property is located.

2) The tax declaration keeps track of prior ownership of the property and is useful for tracebacks ( when research is being done on
history of a property )

3) Assessment for the value of the improvement is also used by the the Bureau of Internal Revenue when figuring out the zonal value
of the property.

4) The Declaration of Real Property and Transfer Certificate of Title or Condominium Certificated of Title are two important
documents that show proof of ownership.

As per Assessors office, the Declaration of Real Property should be updated every three years so proper taxes are paid to the Local
Governments office.

4. Original Certificate of title VS. Transfer of Certificate of Title

Ang OCT ay isang titulo ng lupa na ipinapalabas matapos ang orihinal na registration ng isang piraso ng lupain sa ilalim ng Titulo
Torrens. Ibig sabihin nito, ang lupang iyong nabili at nabili mo mula sa orihinal na nagpa-rehistro nito.

Ang TCT ay isang titulo ng lupa na ipinapalabas matapos na ang orihinal na rehistro ng lupa ay ilipat sa pangalan ng iba matapos
itong ibenta, ipa-mana or dikaya't ipamahagi bilang donasyon.

5. A vehicle registration certificate is an official document providing proof of registration of a vehicle.

6. CERTIFICATE OF OWNERSHIP - Document evidencing title to an asset
7. a stock certificate (also known as certificate of stock or sharecertificate) is a legal document that certifies
ownership of a specific number ofshares or stock in a corporation.
8. Deed of Assignment - 1. Agreement under which some or all assets of an insolvent debtor are assigned to a
trustee, for selling them and distributing the sale proceeds equitably among the creditors.
9. Business licenses are permits issued by government agencies that allow individuals or companies to
conduct business within the government's geographical jurisdiction. It is the authorization to start
a business issued by the local government.
10. Income tax return shall be filed by individuals who are engaged in trade/business or the practice of
profession including those with mixed income (i.e., those engaged in the trade/business or profession
who are also earning compensation income) in accordance with Sec. 51 of the Code, as amended. The
annual income tax return summarizes all the transactions covering the calendar year of the taxpayer.