Practice question
A lot held by a dealer passes by succession to an heir who is not in real-estate business and does not use it in business. Separately, a dealer retained its own lot but merely changed its corporate purpose. Explain why RR7-2003 permits different conclusions.
Legal references
- RR7-2003: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/10/40237 Sections3(c),3(f)(1).
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