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#41 boxer18

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Posted 19 December 2007 - 08:38 AM

Guys, madali lang question ko. I'm going to get a loan to get an un-occupied house renovated para makalipat na ko dun, currently the title is under my dad's name. I need to get it title transferred from my dad to me to get a loan right? if so, how do i go about doing it?

Thanks for the help guys!

#42 duralife

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Posted 19 December 2007 - 11:43 AM

Guys, madali lang question ko. I'm going to get a loan to get an un-occupied house renovated para makalipat na ko dun, currently the title is under my dad's name. I need to get it title transferred from my dad to me to get a loan right? if so, how do i go about doing it?

Thanks for the help guys!


dude i PM you the steps....

#43 Dr_PepPeR

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Posted 02 January 2008 - 02:35 PM

Guys, madali lang question ko. I'm going to get a loan to get an un-occupied house renovated para makalipat na ko dun, currently the title is under my dad's name. I need to get it title transferred from my dad to me to get a loan right? if so, how do i go about doing it?

Thanks for the help guys!


No secret to the answer for this. The fastest and cost-effective way of transferring the title to your name would be under a Deed of Sale which is subject to the Capital Gains Tax.

#44 tabolits

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Posted 11 January 2008 - 09:59 PM

Hmm, okay ang mga opinions dito...

Edited by tabolits, 11 January 2008 - 10:03 PM.


#45 pedrupenduku

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Posted 12 January 2008 - 08:50 AM

guys,

I'm planning to buy a lot from those I see on newspaper, how do I ask ther person that I would like to have the title verified from the registry of deeds first just to make sure that the title is clean without offending the person?

and also, aside from verifying it from the registry of deeds, what else do I need to do just to make sure that its clean and I will get the real land title not a fake one, how would you differentiate a fake land title from an original one?

TIA

#46 Dr_PepPeR

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Posted 12 January 2008 - 10:42 PM

guys,

I'm planning to buy a lot from those I see on newspaper, how do I ask ther person that I would like to have the title verified from the registry of deeds first just to make sure that the title is clean without offending the person?

and also, aside from verifying it from the registry of deeds, what else do I need to do just to make sure that its clean and I will get the real land title not a fake one, how would you differentiate a fake land title from an original one?

TIA


The best way is to verify it yourself at the Registry of Deeds. Go there and ask for a certified true copy, it only costs a few pesos. That way your chances of offending the person selling the property are practically nil and the chances of being fooled are practically nil too. If you want to make sure you are getting the real title, do the transfer of property yourself after the seller has given you the BIR Certificate Authorizing Registration or the clearance that the capital gains tax has been paid. You may not be able to tell which is a fake title from a real one unless you are used to handling TCTs. Some of my people can even tell if the signature of the Register of Deeds is fake.

#47 sharkhunter

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Posted 16 January 2008 - 10:04 PM

Guys, madali lang question ko. I'm going to get a loan to get an un-occupied house renovated para makalipat na ko dun, currently the title is under my dad's name. I need to get it title transferred from my dad to me to get a loan right? if so, how do i go about doing it?

Thanks for the help guys!


Bro,

Newbie here. the way to do is to execute a Deed of Absolute Sale (this is standard). Taxes involved - Capital Gains Tax (6%) and Documentary Stamp Tax (1.5%) so total damage is 7.5%. Basis of the tax is the selling price or zonal value - whichever is higher. So the key here is to price the sale at zonal value (anyway you will be buying this from your dad as i understand it). To determine the zonal value, i believe it is pubished in the BIR website or you can go to the nearest BIR RDO to inquire. This is a completely legal way to save on taxes. good luck.

#48 exodus

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Posted 18 January 2008 - 11:28 AM

tanong lang to about sa pag-ibig fund loan

kasi sabi ng developer namin, hindi 100% na buo ang ibibigay sa kanila ng pag-ibig sa loan naming amount.

e.g. 1.5 million ang ilo-loan namin sa pag-ibig, pero mga 1.2 million lang ang ibibigay daw ng pag-ibig sa developer.

totoo ba yun? alam ko kung anong amount ang ilo-loan yun ang ibibigay nila ng buo sa developer.

for house and lot ito.

#49 jojoendejr

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Posted 18 January 2008 - 01:15 PM

Guys, madali lang question ko. I'm going to get a loan to get an un-occupied house renovated para makalipat na ko dun, currently the title is under my dad's name. I need to get it title transferred from my dad to me to get a loan right? if so, how do i go about doing it?

Thanks for the help guys!



Instead of having the title transferred first to you, why don't you just secure a Special Power of Attorney from your father authorizing you to encumber the property? That is perfectly legal. Madalas ko ngang i-suggest iyan sa mga clients ko and everything works fine.

#50 jojoendejr

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Posted 18 January 2008 - 01:23 PM

guys,

I'm planning to buy a lot from those I see on newspaper, how do I ask ther person that I would like to have the title verified from the registry of deeds first just to make sure that the title is clean without offending the person?

and also, aside from verifying it from the registry of deeds, what else do I need to do just to make sure that its clean and I will get the real land title not a fake one, how would you differentiate a fake land title from an original one?

TIA



Simple: Get a xerox copy of the title. Then go to the office of the Register of Deeds (Makikita mo kung saang RD ito coz nakasulat sa itaas ng title). Pagdating mo sa RD, magpi-fill-up ka lang ng verification slip. Bayad ka ng verification fee (I think P40.00 but I'm not very sure) then pababalikin ka after about 3 days. Pagbalik mo, bibigyan ka ng certification at doon mo makikita kung clean title. OK?

#51 Borismo

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Posted 26 January 2008 - 10:37 AM

Simple: Get a xerox copy of the title. Then go to the office of the Register of Deeds (Makikita mo kung saang RD ito coz nakasulat sa itaas ng title). Pagdating mo sa RD, magpi-fill-up ka lang ng verification slip. Bayad ka ng verification fee (I think P40.00 but I'm not very sure) then pababalikin ka after about 3 days. Pagbalik mo, bibigyan ka ng certification at doon mo makikita kung clean title. OK?




While this is the correct usual procedure, you should be forewarned that the records of the ROD is not fool proof. There are areas I consider the wild wild west, particlary those covering pampanga and tarlac and nueva ecija where the records is up to the highest bidder. Makati is I think the most accurate.

Beyond the title, be wary of litigation or cases where the land may be subject to. Sometimes the fact that the land is subject of a claim or case is not annotated in the back of the title. Get a court clearance and make the seller issue a warranty.

#52 jon

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Posted 29 January 2008 - 06:33 PM

mga atty ka mtc uso ba sa atin dito sa pinas ang kaso misrepresentation? bale dealer ako ng isa sikat na product tapos para lang makuha ng ahente mga commision nya he told us nasa top three kami sa awardee, so kami naman kuha kahit madami pa stock tsk. another thing mga tao ko lang ang witnesses paro lahat willing to testify against him. ano parusa sa ganito? thanks in advance

#53 jon

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Posted 29 January 2008 - 07:30 PM

mod's can you move this sa legal thread, dapat dun ko pala na post sorry

#54 Bolate

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Posted 30 January 2008 - 01:20 AM

SITUATON: I purchased a lot in a subdivsion in our area, done it by paying monthly, after payment has been made, we found out that the company selling the property was not issued an "authority to sell". I't been 3 years since we made our last payment and been to their office many times to acquire the title but to no avail, we still not able to get the title from the company.

QUESTION: What action can we do to rush or get the title of the property which really belong to us since we made full payment?

#55 Dr_PepPeR

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Posted 31 January 2008 - 12:22 PM

SITUATON: I purchased a lot in a subdivsion in our area, done it by paying monthly, after payment has been made, we found out that the company selling the property was not issued an "authority to sell". I't been 3 years since we made our last payment and been to their office many times to acquire the title but to no avail, we still not able to get the title from the company.

QUESTION: What action can we do to rush or get the title of the property which really belong to us since we made full payment?


Just a suggestion, why don't you go to the Housing and Land Use Regulatory Board (HLURB) to make a complaint. Developers need to have an authority to sell from the HLURB before they can start selling the lots. If no recourse can be had, then the next thing would probably to prepare for the filing of a civil case.

#56 exodus

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Posted 02 February 2008 - 06:21 PM

tanong lang to about sa pag-ibig fund loan

kasi sabi ng developer namin, hindi 100% na buo ang ibibigay sa kanila ng pag-ibig sa loan naming amount.

e.g. 1.5 million ang ilo-loan namin sa pag-ibig, pero mga 1.2 million lang ang ibibigay daw ng pag-ibig sa developer.

totoo ba yun? alam ko kung anong amount ang ilo-loan yun ang ibibigay nila ng buo sa developer.

for house and lot ito.



solve na yan kasi nakausap ko na mismo developer namin. thanks na rin kahit alang sumagot :(


eto naman next question ko, sana may makasagot na:

since nakakatakot isiping yung 30 yrs kang maghuhulog ng iyong bahay...

halimbawa naka-loan na kami ng 1 million, then after one year nakaipon kami ng 500k, then ibibigay namin lahat yung 500k sa pag-ibig... now pano ba kwentahan dito, yung bang ni-loan naming 1 million maging 500k na lang sya? then yung 500k na lang ang huhulugan namin monthly? or para lang sa interest yung 500k na ibibigay namin?

yung kasing 1 million for 30 yrs, 9,147.39 sya monthly, so x 30 = 3,293,060.4

di kaya pag nagbigay kami ng 500k ay ili-less lang nila yun sa 3,293,060.4?

meron na ba gumawa neto senyu? pls paki-explain naman

TIA

#57 wek1012

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Posted 03 February 2008 - 08:25 PM

hello, i would like to request for advice from the legal experts here.

our house is an ancestral house that was built in 1940. Last friday, people from the MMDA's Sidewalk Clearing Operations Group (SCOG) took away our flowerpot iron grills and built-into- the house flowerpots. It was lucky that i returned to the house at noon or else they would have probably destroyed the front of our house. This demolition came as a surprise as we did not receive any notice from them.

They said that our house was nakahambalang (MMDA Resolution No. 02-28, Series of 2002) and that our house sagabal s sidewalk (DPWH's Department Order No. 52, series of 2003). The MMDA people are saying the sidewalk should be 3 meters. You see the front of our house has only 1 meter sidewalk right now. The house was built long ago and it was allowed under that time. My father is very sure that the house is not violating anything.

Our house is a three story apartment type building. My immediate concern is our safety if ever they insist of tearing the front of the first floor down without us making the appropriate preparations. It was really shocking to come home last friday and seeing the house was going to be demolished. They did it without prior notice and at the time of the demolition, there was nobody inside the house. several other establishment/ houses near us have facing the same issues. even the police station accross our street will not be spared from this crazy sidewalk widening drive that they have.

Please advice if the MMDA has really legal basis in destroying the front part of our house and actions that we can do. As of now, we haven't prepared much yet. Last friday, our lawyer created a handwritten note and we faxed it to the MMDA office. Today, my father created a letter addressed to the Honorable MMDA Chairman asking for stop to this until we sort the issue out with them. We will submit the letter tomorrow.

Many Thanks

#58 Dr_PepPeR

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Posted 04 February 2008 - 10:54 AM

hello, i would like to request for advice from the legal experts here.

our house is an ancestral house that was built in 1940. Last friday, people from the MMDA's Sidewalk Clearing Operations Group (SCOG) took away our flowerpot iron grills and built-into- the house flowerpots. It was lucky that i returned to the house at noon or else they would have probably destroyed the front of our house. This demolition came as a surprise as we did not receive any notice from them.

They said that our house was nakahambalang (MMDA Resolution No. 02-28, Series of 2002) and that our house sagabal s sidewalk (DPWH's Department Order No. 52, series of 2003). The MMDA people are saying the sidewalk should be 3 meters. You see the front of our house has only 1 meter sidewalk right now. The house was built long ago and it was allowed under that time. My father is very sure that the house is not violating anything.

Our house is a three story apartment type building. My immediate concern is our safety if ever they insist of tearing the front of the first floor down without us making the appropriate preparations. It was really shocking to come home last friday and seeing the house was going to be demolished. They did it without prior notice and at the time of the demolition, there was nobody inside the house. several other establishment/ houses near us have facing the same issues. even the police station accross our street will not be spared from this crazy sidewalk widening drive that they have.

Please advice if the MMDA has really legal basis in destroying the front part of our house and actions that we can do. As of now, we haven't prepared much yet. Last friday, our lawyer created a handwritten note and we faxed it to the MMDA office. Today, my father created a letter addressed to the Honorable MMDA Chairman asking for stop to this until we sort the issue out with them. We will submit the letter tomorrow.

Many Thanks


While I am not sure of the legal basis for the MMDA Resolutions, reason would dictate that they have to give prior notice in cases of demolitions (they claim to have given that to vendors for sidewalk clearing operations). While you did the right thing in notifying the MMDA, my suggestion is get a lawyer to file a Temporary Restraining Order with the RTC. This means filing a case against the MMDA. You might want to post this on the Legal Thread proper, the other lawyers may have better solutions. Good luck.

#59 spadon

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Posted 06 February 2008 - 04:51 PM

I am interested in purchasing property and the contact person on the seller's side requires the buyer to submit a Letter of Intent and Offer. The Letter of Intent is supposed to be addressed to the contact person on the seller's side. The property is titled under the name of somebody else, not this contact person. My questions are:

1) What is the Letter of Intent for and how should it be formattted? Any legalities I have to be aware of before executing it?
2) Shouldn't the contact person present some Letter of Authority to Sell the property?

Thanks in advance for your advice dear sirs.

#60 neKnock

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Posted 10 February 2008 - 10:30 AM

My family and relatives are proposing that we separate our apartment into separate titles. Should the surveyor come from specifically anywhere or is it all right to contact a real estate broker and let him handle the nitty gritty?

Thanks.




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