The Legal Side of Real Estate

[rickyv]

hey guys, can anybody help me? I bought a land in bulacan a year ago, the thing is my surveyor is not doing his job, so I prefer to do the job myself and I don't know where to start. I already have a deed of sale and paid the capital gain, can anybody help me guide step by step where should I go next?

 

thanks.

[redax]

If you already paid capital gains tax, you should already have BIR clearance to register land in your name. Problem is, is there a TCT or OCT since you have a surveyor doing something. Or is the land you are buying part of one TCT but you did not buy the whole land included in the TCT? If it is just a simple transfer because the land already has its own TCT, the Register of Deeds of the Municipality where the land is located in Bulacan would require Capital Gains Tax and Clearance from BIR, documentary stamps from BIR, Transfer Tax from Municipal or City Treasurer's Office, Tax Clearance from the Municipal or City's Real Estate Division and the Owner's TCT or OCT to transfer title in your name.

[rickyv]

what is TCT or OCT? The land I bought have no Title, we are only basing on the tax reciept. waht should I do?

[redax]

Original certificate of registration and transfer certificate of registration. In this case you're going to need a lawyer because you will have to register the land originally under the Torrens system. He will have to prepare and file an application in the proper Regional Trial Court in Bulacan.

[rickyv]

thanks

[pogingpogi]

question lang po, medyo ot...panu kung may lupa tapos walang titutlo then sabi nagbabayad naman ng yearly tax sa munisipyo....panu gagawin? sa bureau of deeds ba ko pupunta nung lugar na pagbibilhan ko ng lupa? magkanu naman patitle?

[redax]

Pareha rin, kung gustong patituluhan kailangan may abogado mag prepare and file ng application for registration ng lupa sa Torrens System. Depende sa abogado singil.

[jigger_horny]

gaano katagal angn process nito??

[bolitski]

any idea how they compute Capital Gain Tax?

[BnF95]

Capital Gains is 6% of the selling price of the land. Although I hear that it might go up.

 

Take note, you pay the Capital Gains within a month of selling the land or you get penalized like crazy.

[THUG]

hey guys, can anybody help me? I bought a land in bulacan a year ago, the thing is my surveyor is not doing his job, so I prefer to do the job myself and I don't know where to start. I already have a deed of sale and paid the capital gain, can anybody help me guide step by step where should I go next?

 

thanks.

<{POST_SNAPBACK}>

 

i wonder why you are the one who paid the capital gains tax.. capital gains tax is shouldered by the seller since he is the one that earns from the gains of the land..

[rickyv]

its one of the agreement i had with the owner so that i can get the land as cheap as i can.

[THUG]

its one of the agreement i had with the owner so that i can get the land as cheap as i can.

<{POST_SNAPBACK}>

 

the owner/seller can actually avoid paying capital gains tax if the original owner/seller purchases another property of equal or greater value within 18 months..

 

try to ask the owner what is he going to do with the money you paid him.. if he will be using it to purchase a new lot/house/building of greater value then you don't have to pay the capital gains tax..

[crazy8]

Capital gains is computed at 6% of purchase price or zonal valuation whichever is higher if purchased from an individual. If it's from a corporation, it's at 7.5%.

[NASTYMERLIN27]

IN NEED OF A LIST OF DOCUMENTS FOR LAND DEVLMPT....PUNTA KAYO SA CONSTRUCTION THREAD :cool:

 

ANY CONSTRUCTION QUESTIONS...JUST POST EM THERE :cool: