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The Legal Side of Real Estate


rickyv

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Your problem would be, by the time that you will pay the aforementioned taxes, the BIR will already charge you with interest, surcharges and penalty (in addition to the 7.5% you have to pay) kasi overdue na yung taxes. deadline in paying for the capital gains tax is at least 1 month from the date of the sale, while for the doc stamps, 5th day of the following month. kaya habang pinapatagal mo pagbabayad, mas lumalaki taxes not unless both of you would execute a new deed of sale.

 

Bro, your advise needed:

My younger brother bought a townhouse unit on Oct 2000; but was not able to pay the CGT thereafter; my understanding is that the seller should shoulder paying the CGT, but nothing mentioned on their deed of sale; he wont get new deed of sale coz the seller already migrated to Canada after completing the deed of sale; can my brother sell the property and execute new deed of sale so he can skip the remaining unpaid period? is this transaction VATable?

Thanks! :rolleyes:

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Sir paano kung ganito ang scenario naghatian na ng lupa ang magkakapatid then plan ng isang kapatid is ipatitulo na ang lupa kaso hindi pa nababayaran ang inheritance tax for so many years.

 

Ano dapat gawin nung tao para matitle na sa kanya yung lupa?

 

The tax thing paano ba ang bayad? hinati na kasi yung lupa?

 

Then meron such term na 'amnesty' sa ganito scenario? at meron bang such thing na 'amnesty'?

 

Bukod sa inheritance tax ano pa bang mga babayaran pa nung tao?

 

Kailangan pa ba ng attorney sa ganito scenario?

 

Then kung magpapatitulo kailangan pa bang pasukat uli ang lupa kahit na dalawang bese na sinukat ang lupa.

Thanks..

 

:thumbsupsmiley:

Kailangan nyo muna bayaran estate tax para makakuha Certificate Authorizing Registration from BIR. Problema sa estate tax hinde lang yang lupa na yan kailangan ilagay, kailangan din ibaiba pang ariarian ng pinagmanahan ninyo dahil ang estate tax schedule ay graduated, masmalaki ariarian na naiwan, masmalaki rate of estate tax. Yang paghatihati ninyo, may requirements din yan bago makapagextrajudicial partition tulad ng pagpost sa dyaryo. Kakailangan talaga kayo abogado dahil sya magdraft extrajudicial partition ninyo. Pagnakakuha na CAR sa BIR, puro sa municipyo na ibang requirements, tulad ng certification of payment of real property taxes at transfer tax payments, madali dali na mga yon. Siempre, kailangan rin magbigay techinical descriptions ng paghatihatian na lupa para malagay ng Register of Deeds sa TCT pag sinubdivide ito.

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Kailangan nyo muna bayaran estate tax para makakuha Certificate Authorizing Registration from BIR. Problema sa estate tax hinde lang yang lupa na yan kailangan ilagay, kailangan din ibaiba pang ariarian ng pinagmanahan ninyo dahil ang estate tax schedule ay graduated, masmalaki ariarian na naiwan, masmalaki rate of estate tax. Yang paghatihati ninyo, may requirements din yan bago makapagextrajudicial partition tulad ng pagpost sa dyaryo. Kakailangan talaga kayo abogado dahil sya magdraft extrajudicial partition ninyo. Pagnakakuha na CAR sa BIR, puro sa municipyo na ibang requirements, tulad ng certification of payment of real property taxes at transfer tax payments, madali dali na mga yon. Siempre, kailangan rin magbigay techinical descriptions ng paghatihatian na lupa para malagay ng Register of Deeds sa TCT pag sinubdivide ito.

 

Thanks sa tip dun sir.

:thumbsupsmiley:

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  • 4 weeks later...

Guys,

Help me naman, for transfer of Title, ano ba nag tamang procedure? ito po ang scenario.

 

Nabili ko po ang lupa sa Cavite na nakapangalan kay ex: Pedro Santos married to Mila Santos, meron na kaming deed of sale at special power of Attorney na lilipat na sa akin ang title lahat ng documents na sa akin na (original Title at mga dockumentong galing sa National Home mortgage. Nabayaran ko na rin ang lahat tax na kailangan, ibig sabihin cleared na ako sa BIR. Ang problema patay na pala itong si Mila ang asawa ng seller. Naibigay ko na din ang NSO death certificate, at special power of attorney na wala ng maghahabol pati ang anak pina pirma sa SPA. Napa publish na rin namin sa dyaryo na tiong lupa na ito ay ibinenta sa akin, bale 1 month na naka publish. Nang ipapasa na namin sa Registry of Deeds, hinihingan pa kami ng certification na katunayan na wala ng ibang property itong si Mila sa probinsiya at may babayaran pa daw kami sa land reform. Ang tanong ko po ano po ba talaga ang procedure dito? Ano pong koneksiyon ng ibang property ni Mila sa binibili kong lupa sa Cavite? Gaano po ba katagal ang transfer of Title sa RD. Maraming salamat po sana po maliwanagan po ninyo ako sa problemang ito.

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a follow up question ...

 

I have a friend who wanted to buy a piece of land na awarded ... it has a TCT however may encumbrances na di pdeng i mortgaged, transfer nor sell within the period of 20 years ... naka 19 years na kc ang lumipas and I think 1 year n lang eh lapse na yung encumbrances ...

 

question is, can I buy the land? safe bang bilhin yun? definitely ba yung encumbrances eh pde mawala after 20 years or may idadagdag pa dun? ano ano yung downside nun?

 

ang upside kc ... pde ko syang baratin ng konti

TIA

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Guys,

Help me naman, for transfer of Title, ano ba nag tamang procedure? ito po ang scenario.

 

Nabili ko po ang lupa sa Cavite na nakapangalan kay ex: Pedro Santos married to Mila Santos, meron na kaming deed of sale at special power of Attorney na lilipat na sa akin ang title lahat ng documents na sa akin na (original Title at mga dockumentong galing sa National Home mortgage. Nabayaran ko na rin ang lahat tax na kailangan, ibig sabihin cleared na ako sa BIR. Ang problema patay na pala itong si Mila ang asawa ng seller. Naibigay ko na din ang NSO death certificate, at special power of attorney na wala ng maghahabol pati ang anak pina pirma sa SPA. Napa publish na rin namin sa dyaryo na tiong lupa na ito ay ibinenta sa akin, bale 1 month na naka publish. Nang ipapasa na namin sa Registry of Deeds, hinihingan pa kami ng certification na katunayan na wala ng ibang property itong si Mila sa probinsiya at may babayaran pa daw kami sa land reform. Ang tanong ko po ano po ba talaga ang procedure dito? Ano pong koneksiyon ng ibang property ni Mila sa binibili kong lupa sa Cavite? Gaano po ba katagal ang transfer of Title sa RD. Maraming salamat po sana po maliwanagan po ninyo ako sa problemang ito.

 

Actually the proper procedure to to have Pedro Santos and the children (if they are of legal age) to execute a Deed of Extrajudicial Partition and follow the steps outlined in one of the posts above. If an SPA was really executed by Mila Santos, it automatically lost its validity upon her death. Once the estate tax is paid then the heirs of Mila Santos can now execute the Deed of Sale in your favor.

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a follow up question ...

 

I have a friend who wanted to buy a piece of land na awarded ... it has a TCT however may encumbrances na di pdeng i mortgaged, transfer nor sell within the period of 20 years ... naka 19 years na kc ang lumipas and I think 1 year n lang eh lapse na yung encumbrances ...

 

question is, can I buy the land? safe bang bilhin yun? definitely ba yung encumbrances eh pde mawala after 20 years or may idadagdag pa dun? ano ano yung downside nun?

 

ang upside kc ... pde ko syang baratin ng konti

TIA

 

Better to be safe than sorry. Why not just execute a contract to sell first (with earnest money) and have the seller sign an undated Deed of Absolute Sale and let you keep the title or put it under escrow? Technically, you can't purchase the property until the 20 years have expired, and since there is only one year left, just register the Deed of Absolute Sale then.

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that's also what I am thinking ... salamat sa advice Dr.

 

Better to be safe than sorry. Why not just execute a contract to sell first (with earnest money) and have the seller sign an undated Deed of Absolute Sale and let you keep the title or put it under escrow? Technically, you can't purchase the property until the 20 years have expired, and since there is only one year left, just register the Deed of Absolute Sale then.
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  • 2 weeks later...

hi folks,

 

i need your advice on this situation:

 

our neighbor used our wall located at the rear of our residence as part of their house. maybe it was because they did not have the money to construct their own. to make matters worse noise easily penetrated to our once peaceful home. its quite annoying.

 

my questions are:

 

1. is there any law which I can quote that prevents this?

2. what should i do? i was planning to resolve this through the barangay hall.

3. what are my other rights?

 

thank you.

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If your wall is within the boundaries of your real estate and your neighbor made use of that wall as part of their house, that means your neighbor is encroaching your property. In which case, you can go to the barangay to settle the issue about property boundaries. If your neighbor is causing noise which is a total nuisance, you can also go to the barangay and file a complaint for abatement of private nuisance. In any case, if nothing good comes out of your barangay complaint, you can go to Court to file a civil case for abatement (in the case of the excessive noise) or ejectment (for that part of their house which intruded your property). In both cases, you can ask for the reward of consequential damages (moral damage, actual damage, exemplary damage and litigation expenses). This is what is commonly known as danyos perhuwisyo.

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  • 2 weeks later...

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!

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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....

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  • 2 weeks later...
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.

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  • 2 weeks later...

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

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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.

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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.

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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.

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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.

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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?

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