The Legal Side of Real Estate

[Dr_PepPeR]

question on release procedures sa qc rd:

 

can one of the transferees of a tct request for release of the new tct to himself even if another person, say a broker, was authorize by the transferees to file the transfer sa rd. halimbawa, at the time of release wala kasi ung broker e nandun na un one of the transferees.

 

The last time I transacted with the QC RD, their rule of thumb was whoever was the one who filed the transaction in the RD would be the only one authorized to receive it. But that was years ago.

[Dr_PepPeR]

I guess this is another scheme to delay the release of my title. Is it possible for me to personally work on the transferring process? Will the corporation (developer) allow it?

 

It's possible for you to do it yourself if the developer cooperates with you and gives you the required documents. It may cost you a bit more though, since the developer has already 'greased' his way with the RD. Supposedly.

[jazon7099]

Kung ang titulo ng lupa ay galing sa CLOA (Certificate of Land Ownership Award), ibig sabihin ito ay lupang ipinamigay ng gobyerno sa ilalim ng CARP (Comprehensive Agrarian Reform Program). Sa ilalim ng CARP law (RA 6657), hindi pwedeng ibenta ang lupang ibinigay sa CARP sa loob ng sampung taon mula sa award nito. Tingnan mo sa titulo kung kelan na-issue ito. Kung lampas sampung taon na mula sa issuance hanggang sa pagkabili nyo, pwede nang mailipat ang titulo sa pangalan ng kumpanya nyo. Otherwise, walang bisa ang bilihan na nangyari (dahil bawal nga ito sa ilalim ng CARP).

 

salamat po sir. ngpunta po ako sa RD... sabi nman nila na idadaan pa daw sa DAR. tama po ba ito? or gimmik lng nila para kumita?

[TheSmilingBandit]

One of the dangers of undervalueing in order to bring down the capital gains tax (normally borne by the seller) is that if push comes to shove and there is an unwinding of the sale, the buyer might only be able to get back the amount reflected in the Deed of Sale.

 

Maester TheSmilingBandit is quite correct. Even if your all your documents are in order, and have complied with all the requirements (including some that are dreamed up on the spot), don't expect it to be completed in a reasonable time if you have not forked over a facilitation fee. In the provinces, I could get away with having a title annotated by the next day if I order food for the whole RD staff, distribute a few 100 peso bills to the cashier, typist and records clerk, and then a bigger amount to the Register of Deeds or to the examiner. If I think I would have to go back for another transaction in the near future, I leave both of them a bottle of Fundador for goodwill.

LOL, that sounds about right for the medium transactions, smaller transactions are cheaper and larger transactions are much more expensive.

 

thanks!! ide like to clarify "losing the property" how will they do that?

it was written in the DOS that all the taxes will be payed by the seller. it wasnt our fault if they did not pay the taxes buti na lang hindi pa namin binibigay ang full payment. kaya lang kalahati na yun eh! malaking pera na ang na gagastos

Thanks

Unfortunately the bureaucracy doesn't care about the smaller salient points of the Deed of Sale. If all the taxes aren't properly and fully paid, as per book value, then they sometimes consider the sale as unconsummated, thus the title reverts back to the previous owner, its easy enough to clarify if everything is fully paid up, just accompany their guy who is handling the payments.

 

question on release procedures sa qc rd:

 

can one of the transferees of a tct request for release of the new tct to himself even if another person, say a broker, was authorize by the transferees to file the transfer sa rd. halimbawa, at the time of release wala kasi ung broker e nandun na un one of the transferees.

If you have the OR of the transaction together with a letter of authorization from the person who actually filed the transfer (complete with a picture id), then yes.

 

tanong lang po

 

meron kaming land sa antipolo tapos nung nung pumirma kami ng parang homeowners association contract na within a number of years d kami nakapag pagawa ng bahay pwede nila ibenta yung lupa namin ... totoo ba ito???

 

by the way pwede ko ba ibenta yung lupa namin na nakapangalan sa wifey ko ??

 

thanks

??? What kind of contract is that with the homeowner's association? I've never heard of such a contract. As for selling the land that is in your wife's name, certainly you can, provided your wife is agreeable and signs the Deed of Absolute Sale, alternatively she can make a Special Power of Attorney giving you the power to sell on her behalf.

 

I guess this is another scheme to delay the release of my title. Is it possible for me to personally work on the transferring process? Will the corporation (developer) allow it?

Certainly its possible for you to file the papers, just be prepared to become frustrated with the bureaucracy. It helps if you have the complete set of papers, with multiple photocopies.

 

The last time I transacted with the QC RD, their rule of thumb was whoever was the one who filed the transaction in the RD would be the only one authorized to receive it. But that was years ago.

Of course, you could always authorize someone else to pick up the documents on your behalf laird and maester.

 

It's possible for you to do it yourself if the developer cooperates with you and gives you the required documents. It may cost you a bit more though, since the developer has already 'greased' his way with the RD. Supposedly.

My thinking is that perhaps the developer can't release the papers due to some snafu with their own paperwork. While the firm Red Light is referring to has had a good reputation, recent events have shown up casting some doubts on the viability of some of their newer projects.

[rocco69]

tama ito. lumalabas na agricultural ung lupa kaya kailangan ng clearance mula sa DAR

 

salamat po sir. ngpunta po ako sa RD... sabi nman nila na idadaan pa daw sa DAR. tama po ba ito? or gimmik lng nila para kumita?

[jcsantos]

Thanks SmilingBandit

 

More power to this thread

[wizard23]

greetings to the real estate experts here.

 

my brother bought a townhouse at canyon ranch in carmona, cavite. he's paying the amortization for 20 years. now he wants to sell it although the interest level is very low.

 

so we thought of selling it via rent to own scheme in the hope that it will be more attractive to buyers.

 

what is the normal downpayment required before the tenant would pay the monthly rent. is the downpayment amount up to the seller and is the downpayment usually non-refundable in case the tenant/buyer was not able to fulfill his obligations in the future.

 

can the tenant protect himself by applying for MRI even if the property is already with another bank (seller side).

 

appreciate your kind advice. tnx.

[TheSmilingBandit]

greetings to the real estate experts here.

 

my brother bought a townhouse at canyon ranch in carmona, cavite. he's paying the amortization for 20 years. now he wants to sell it although the interest level is very low.

 

so we thought of selling it via rent to own scheme in the hope that it will be more attractive to buyers.

 

what is the normal downpayment required before the tenant would pay the monthly rent. is the downpayment amount up to the seller and is the downpayment usually non-refundable in case the tenant/buyer was not able to fulfill his obligations in the future.

 

can the tenant protect himself by applying for MRI even if the property is already with another bank (seller side).

 

appreciate your kind advice. tnx.

Maester Wizard23, as a certified realtor you should already know the answers to your question. The downpayment is whatever amount the buyer and seller can come to an agreement with. While the d/p is usually non-refundable, again it depends on the contract of sale.

[jazon7099]

tama ito. lumalabas na agricultural ung lupa kaya kailangan ng clearance mula sa DAR

salamat po sir... pumunta po ako ng DAR. sabi nla package na po 20 thou. tpos cla na bahala sa titulo.

[wizard23]

Maester Wizard23, as a certified realtor you should already know the answers to your question. The downpayment is whatever amount the buyer and seller can come to an agreement with. While the d/p is usually non-refundable, again it depends on the contract of sale.

 

 

regardless, I need a 2nd opinion since I am not practicing it full time so i'm not aware of any latest developments/updates/practices in the industry. tnx.

[yuritomo]

hi to all brokers. i'm considering being one myself kaso i found out that the licensure for brokers was transferred from dti to prc. as of the moment wala pa daw schedule. i jjust want to know kung ano po mga topics ang lumalabas sa exam so i could do advanced readings. salamat.

[TheSmilingBandit]

regardless, I need a 2nd opinion since I am not practicing it full time so i'm not aware of any latest developments/updates/practices in the industry. tnx.

Not a problem maester Wizard, you can always SMS me, I still have the same digits.

 

hi to all brokers. i'm considering being one myself kaso i found out that the licensure for brokers was transferred from dti to prc. as of the moment wala pa daw schedule. i jjust want to know kung ano po mga topics ang lumalabas sa exam so i could do advanced readings. salamat.

The last brokers exam will be early next year, after that, brokering will be considered a college course in and by itself. The topics are very broad, it would be best to attend one of the review seminars that will be conducted before the exam.

[yuritomo]

salamat po smiling bandit. ill just wait na lang perhaps for the sked to come up.

[puki-man]

hello real estate experts....

 

I need a little help on process and terminologies. I'm a Filipino based in the US who inherited real estate properties in the Philippines. The lots I inherited are in a high demand location but the lot sizes are too big. In order to sell them and get the best profit, I'm told that I have to subdivide them. I'm getting ready to do that to one of the lots. The agent I have contacted mentioned getting a lot plan drawn and then title the subdivided lot when a buyer is found. Other people I have contacted mentioned a subdivision plan and also a sketch plan. Are lot plan, subdivision plan and sketch plan different documents or are they the same?

 

Also, what exactly is the process that I should follow if I want to subdivide the lot and sell the smaller portions? The one I'm thinking of cutting has a total of 15,000 square meters. A relative, also an heir, recommended that I cut maybe 8 small lots at 250 square meters a piece and keep the rest as one big lot. When the first 8 is nearly sold, to cut more small pieces.

 

I would appreciate some insight on how I should go forward with this.

[Dr_PepPeR]

hello real estate experts....

 

I need a little help on process and terminologies. I'm a Filipino based in the US who inherited real estate properties in the Philippines. The lots I inherited are in a high demand location but the lot sizes are too big. In order to sell them and get the best profit, I'm told that I have to subdivide them. I'm getting ready to do that to one of the lots. The agent I have contacted mentioned getting a lot plan drawn and then title the subdivided lot when a buyer is found. Other people I have contacted mentioned a subdivision plan and also a sketch plan. Are lot plan, subdivision plan and sketch plan different documents or are they the same?

 

Also, what exactly is the process that I should follow if I want to subdivide the lot and sell the smaller portions? The one I'm thinking of cutting has a total of 15,000 square meters. A relative, also an heir, recommended that I cut maybe 8 small lots at 250 square meters a piece and keep the rest as one big lot. When the first 8 is nearly sold, to cut more small pieces.

 

I would appreciate some insight on how I should go forward with this.

 

My suggestion is to hire a licensed surveyor to draw up the subdivision plan, then ask him if he can have the subdivision plan approved by the Land Registration Authority and if possible, to take it all the way to the Registry of Deeds for the retitling of the subdivided lots. My reasoning is it may be cheaper to get it as a package deal than having to do it step by step talking to different people.