The Legal Side of Real Estate

[flashspeed229]

Mga bossing... Magandang hapon. Kumuha po kasi kami ng bahay sa Globe Asiatique. Ang original po na Contract eh dapat papasok ang housing loan sa Pag-ibig pero nagkaproblema po sila. Ginagawa po nila na in-house financing na lang. Nagkaroon po ng meeting mga home owners sa subdivision at sinabihan kami na wag muna magbayad ng monthly amortization till ma settle ng Globe Asiatique ang issue. Lately po eh pinadalhan ako ng letter ng Globe Asiatique na kailang ko daw po bayaran interest sa late payment kung hindi eh rescind daw nila Contract to Sell ko. 1. Nasa akin pa po copy ng bagong Contract to Sell at di ko pa napipirmahan kasi ang daming blanko sa contract. 2. Ang word na "default" po ba eh isang common legal term or dapat nakadefine ito dun sa Contract to sell? Sana po may makasagot sa mga tanong ko. Thanks in advance.

 

[jbcast86]

Mga sir, patulong naman ho,paano ho ba ang computation ng Lot and Building Taxes (amilyar) there this assessor from Quezon City hall who contacted us and claim that i need to 60K annual tax for my 200 m2 lot and building (based on her computation), however she claims that she can lower it to more than 1/2 of the total cost provided that kanya is 20K. knowing how does it was computed will provide me with a right tools in dealing with this kind of corrupt goverment employee... help would really be appreciated...thanks

 

follow up po sana

[Saeki®]

^^

 

Do you know the FMV?

 

:::::::::::::::::::::::::::::::::

FMV x assessment level = assessed value.

:::::::::::::::::::::::::::::::::

 

Where :

The current assessment levels for land are:

 

20% - residential

50% - commercial

 

( please do correct me if I'm wrong on the said given)

 

and after you get the assessed value.......

 

assessed value x tax rate = amount of tax

In the province this rate does not exceed 1% and in Metro Manila and other cities, the rate does not exceed 2%.

- now this is ONLY for land. Di pa po kasama kung may nakatayong bahay / building / etc. or if there were any improvements.

 

 

** by the way im not a lawyer

Edited January 31, 2012 by Saeki®

[jbcast86]

^^

 

Do you know the FMV?

 

:::::::::::::::::::::::::::::::::

FMV x assessment level = assessed value.

:::::::::::::::::::::::::::::::::

 

Where :

The current assessment levels for land are:

 

20% - residential

50% - commercial

 

( please do correct me if I'm wrong on the said given)

 

and after you get the assessed value.......

 

assessed value x tax rate = amount of tax

In the province this rate does not exceed 1% and in Metro Manila and other cities, the rate does not exceed 2%.

- now this is ONLY for land. Di pa po kasama kung may nakatayong bahay / building / etc. or if there were any improvements.

 

 

** by the way im not a lawyer

 

 

maam... thanks kanya lang bitin

 

 

 

 

[razrramon]

hi sirs;

 

i am currently having issues with a condo that i got. mag due na ang initial down payment next month and the agent said that tigil daw muna kami ng payment hanggat di pa nadidiliver yung unit, but after the inquiry they developer said that it'll be defaulted to in-house at 18% which is not what the agent told us. They said that they will be giving us 6 months notice prior to the last month of payment for the downpayment and that we will not be paying anything until we can get a financial institution that will finance our loan. they pre-sold the unit without any license to sell which i found out was not allowed. they are offering to pre-approve as in-house at 12% but after some research there are other institutions that are offering much much lower interest rates.

 

i would appreciate if you can advise me on what actions i need to do. i have always relied on our resources here in MTC to always give good advise.

 

thank you very much!

[joemigs]

Sir, check nyo muna yung contract to sell, kung ano yung terms. baka kasi meron provision stating na before madeliver yung unit, kelangan certain percentage muna mabayaran. And pwede mo namang ipa finance yung condo mo sa ibang institutions, alam ko nga ngayon 8% fixed yung loans ngayon, for 1 year ata.

[kastanova]

query lang po.

 

may real property po kami.

sa mga parents po namin ito but sad to say our father died and our mother wants to divide the ownership of the title among her siblings.

 

our older brother wants it to be under his name and annotate daw po sa title na co owners kaming magkakapatid sa title. meaning sya po ang principal title holder.

 

 

tama po ba to and meron po bang ganun sa land title na state na co owners kami on that property.

 

 

thanks

[joemigs]

Hmmm... Parang di pwede bro. As far as I know, Di pwede na isa lang nakapangalan, tapos merong annotation na co-owners. pwede siguro na separate agreement kayo yung pangalan ng brother nyo as sole owner is for some other purpose, para magkaroon ng safety net in case na ibenta nya to other persons (Trust Agreement). Either way, para matransfer yang title na yan, kung nakapangalan pa sa father and mother nyo, extrajudicial settlement muna kayo sa properties, or yung mas mahirap, settlement of estate kayo sa court, provided walang will.

[lomex32]

Fact:

Nakapagpatayo ng bahay ung Auntie kong swapang sa lupa ng Auntie kong mabait na namatay na.

Looking at sa LRA nakapangalan pa din ung title ng lupa sa kay dead Auntie.

 

Question :

How was swapang Auntie able to do this?

 

Hindi ba kapag kukuha ka ng building permit ay kailangan ng title in your name or consent man lang sa may-aring nakapangalan?

[rocco69]

Bribery? or, could it be, falsification?

 

Fact:

Nakapagpatayo ng bahay ung Auntie kong swapang sa lupa ng Auntie kong mabait na namatay na.

Looking at sa LRA nakapangalan pa din ung title ng lupa sa kay dead Auntie.

 

Question :

How was swapang Auntie able to do this?

 

Hindi ba kapag kukuha ka ng building permit ay kailangan ng title in your name or consent man lang sa may-aring nakapangalan?

Edited March 23, 2012 by rocco69

[lomex32]

Chief Rocco

 

Sa building permite ehto ang kailangan

• Transfer Certificate of Title, Tax Declaration, Deed of Absolute Sale,

Waiver of Rights, Contract of Lot Award, DENR Tagging Entry Pass/Stub.

 

Malamang na-falsify nga ....

Question : Gusto ng ibang kapatid nila Autie na makuha ung share nila from Dead Good Auntie's heirs, how?

Kailangan ba munang i-prove na falsified ung Deed-of-sale through a criminal case?

 

Bribery? or, could it be, falsification?

[rocco69]

1. Gusto ng ibang kapatid nila Auntie na makuha ung share nila from Dead Good Auntie's heirs, how?

 

what shares are they entitled to? if Dead Good Auntie has heirs (children), then these are the persons entitled to the property, not the brothers and sisters of Dead Good Auntie.

 

If Dead Good Auntie died without children, but with a spouse, the spouse gets 50%, brothers and sisters, the other 50%. If no spouse and no children, then they get all the property.

 

If there is a Deed of Sale in favor of Swapang Auntie, then they'll have to prove that the same is a forgery, either by filing a criminal case or just proving it in the civil case for partition.

 

Chief Rocco

 

Sa building permite ehto ang kailangan

• Transfer Certificate of Title, Tax Declaration, Deed of Absolute Sale,

Waiver of Rights, Contract of Lot Award, DENR Tagging Entry Pass/Stub.

 

Malamang na-falsify nga ....

Question : Gusto ng ibang kapatid nila Autie na makuha ung share nila from Dead Good Auntie's heirs, how?

Kailangan ba munang i-prove na falsified ung Deed-of-sale through a criminal case?

[play_boi]

guys hindi ko alam kung saan to pwede i lagay. pwede kasing sa annulment and real estate so MODS of MTC sorry po pero i post ko na din ito dito. very important lang po kasi THANKS

 

Atty’s of MTC pa hingi naman po ng advice. Yung pinsan ko kasi under process yung annulment of marriage nila nung asawa nya. May document na din na nag sasabi na may separation of properties and kung ano mang bibilihin na property ay wala na silang paki alam sa isat isa. Si pinsan (guy) ko may magandang deal na makukuha sa isang condomium sa Makati na binebenta ng napaka mura. Gusto nya bilihin para i benta din or parang fast break lang maski kumita ng onti. Ang problem is presently married pa talaga sila nung girl, pero sabi within the year baka matatapos na yung case.

 

Regarding sa documentation para sa sale nung sinabihan namin na mag pa gawa ng SPA or pumirma sa documents pag bili at pag benta eh ayaw makipag cooperate. Baka daw magkaroon ng effect sa annulment nila. By the way si babae ang nag file ng case and 100% wala balak mag habol sa mga ibang properties na pwede nya bilihin. Now pag gumawa po ba ng deed of sale dapat padin ba i lagay na married? Or ok lang na single si pinsan? alam po namin na mali yun pero sayang yung pag kakataon. Pag nilagay na married hindi naman pipirma sa babae.. pag nilagay na legally separated baka hanapan naman ng docs. Pag nilagay kaya na single walang maging problem?

 

Thanks!

[menk]

Good day everyone, we are planning to buy a residential lot in QC about 175sqm. The copy of TCT got burned in Registry of Deeds on 1988 and the owner (still has the original title) has not yet reconstituted the title. The owner has not yet also transfered the title to her name and it's under Sta. Lucia realty. We have checked with the Sta. Lucia to check the records and we have confirmed that indeed it was sold to the owner back in 1987. However, the owner is already dead and the son is now the one selling the property. They are only in the process of producing the Extrajudicial particion, which according will take about 3 weeks to complete.

Question Masters, once the extrajudicial is complete can we now purchase the property even if the reconstitution is under way? what are the risk of purchasing a title that is yet to be reconstituted? how much is the cost of reconstituting a title and how long does it normally takes?

Thanks in advance.

[TheSmilingBandit]

Good day everyone, we are planning to buy a residential lot in QC about 175sqm. The copy of TCT got burned in Registry of Deeds on 1988 and the owner (still has the original title) has not yet reconstituted the title. The owner has not yet also transfered the title to her name and it's under Sta. Lucia realty. We have checked with the Sta. Lucia to check the records and we have confirmed that indeed it was sold to the owner back in 1987. However, the owner is already dead and the son is now the one selling the property. They are only in the process of producing the Extrajudicial particion, which according will take about 3 weeks to complete.

Question Masters, once the extrajudicial is complete can we now purchase the property even if the reconstitution is under way? what are the risk of purchasing a title that is yet to be reconstituted? how much is the cost of reconstituting a title and how long does it normally takes?

Thanks in advance.

Extrajudicial settlement of a lot? 3 weeks? WOW, never knew it could be done anywhere close to that speed, I guess my 25 years in the real estate business has been wasted.

 

Seriously now, don't rush it, and always double check yourselves or have a licensed broker check for you. Get certified true copies of every document because years down the road, you'd hate to kick yourself if your title gets declared to be a fake.

[mike71]

The 3 weeks refers to the publication of the estate settlement agreement in the newspaper...

[menk]

Extrajudicial settlement of a lot? 3 weeks? WOW, never knew it could be done anywhere close to that speed, I guess my 25 years in the real estate business has been wasted.

 

Seriously now, don't rush it, and always double check yourselves or have a licensed broker check for you. Get certified true copies of every document because years down the road, you'd hate to kick yourself if your title gets declared to be a fake.

 

We have a licensed broker helping us already. I think the 3 weeks pertains to the publication of the extrajudicial particion. According to the son, the remaining heirs of the seller had already signed the docs.

What about the reconstitution aspect? Is it safe to purchase a property that is yet to be reconstituted? Thanks!

[play_boi]

Good day po! Tatanung ko lang kung kalian kailangan mag file ng extra judicial. May kaibigan kasi ako na ang FATHER ay na matay few months ago. Ang nakalagay sa title ay MOTHER married to FATHER at hindi spouses . Pag kailangan po ba i benta dadaan padin sa extra judicial settlement or waiver of rights lang? Lahat naman po ng anak ay willing na i benta ang property.

 

Thanks

[Viola]

guys question, i purchased a condo unit a few years ago. hinuhulugan ko pa sya until now. it's pre-selling. it hasn't been turned over yet.

 

question is, i want to get out of the contract due to a family emergency. the developer has informed me that if i opt out of the sale, i won't get whatever i paid them that it's forfeited. is it true? or is there a way i could get what i already paid them minus penalties for opting out of the contract since wala naman ako nakuhang service or product in the end?

 

somebody told me kasi na bawal daw ung ganun, na nagbayad ako for something i wasn't able to use. i hope somebody can clarify this for me.

 

guys question,  i purchased a condo unit a few years ago.  hinuhulugan ko pa sya until now. it's pre-selling. it hasn't been turned over yet.<br><br>question is, i want to get out of the contract due to a family emergency.   the developer has informed me that if i opt out of the sale,  i won't get whatever i paid them that it's forfeited.  is it true?  or is there a way i could get what i already paid them minus penalties for opting out of the contract since wala naman ako nakuhang service or product in the end?<br><br>somebody told me kasi na bawal daw ung ganun, na nagbayad ako for something i wasn't able to use.  i hope somebody can clarify this for me.  <br><br><br>

[rocco69]

read Republic Act 6552. that law should answer all your questions.

 

guys question, i purchased a condo unit a few years ago. hinuhulugan ko pa sya until now. it's pre-selling. it hasn't been turned over yet.

 

question is, i want to get out of the contract due to a family emergency. the developer has informed me that if i opt out of the sale, i won't get whatever i paid them that it's forfeited. is it true? or is there a way i could get what i already paid them minus penalties for opting out of the contract since wala naman ako nakuhang service or product in the end?

 

somebody told me kasi na bawal daw ung ganun, na nagbayad ako for something i wasn't able to use. i hope somebody can clarify this for me.

 

guys question,  i purchased a condo unit a few years ago.  hinuhulugan ko pa sya until now. it's pre-selling. it hasn't been turned over yet.<br><br>question is, i want to get out of the contract due to a family emergency.   the developer has informed me that if i opt out of the sale,  i won't get whatever i paid them that it's forfeited.  is it true?  or is there a way i could get what i already paid them minus penalties for opting out of the contract since wala naman ako nakuhang service or product in the end?<br><br>somebody told me kasi na bawal daw ung ganun, na nagbayad ako for something i wasn't able to use.  i hope somebody can clarify this for me.  <br><br><br>

[rick9plus]

hi mga sir question lang po. we purchased a condo and fully paid two years ago. we are already living on it but the title is yet released.

 

now the developer is making lots of alibis regarding issuance of title.

 

sabi nila kesyo matagal daw magrelease ang municipyo. kailagan pa daw maglagay.

 

what are the actions we can do for this?

 

anong kaso ang pwedeng i-hain sa ganitong situation?

 

thank you in advance.

[moridins79]

hi mga sir question lang po. we purchased a condo and fully paid two years ago. we are already living on it but the title is yet released.

 

now the developer is making lots of alibis regarding issuance of title.

 

sabi nila kesyo matagal daw magrelease ang municipyo. kailagan pa daw maglagay.

 

what are the actions we can do for this?

 

anong kaso ang pwedeng i-hain sa ganitong situation?

 

thank you in advance.

 

hmm....sino developer? i'm currently handling a case for a client where we discovered that the reason for the delay was a problem with the title over the land.

[rick9plus]

hmm....sino developer? i'm currently handling a case for a client where we discovered that the reason for the delay was a problem with the title over the land.

 

Thanks for replying. It's by FilEstate. Some of the unit owners said they got theirs already. So it is most likely not because of the land title.

[Pinoymale]

Thanks for replying. It's by FilEstate. Some of the unit owners said they got theirs already. So it is most likely not because of the land title.

 

I suggest you write a letter requesting for the release of the title. Address the letter directly to the company president. Sometimes the president isn't aware of clients' problems because account officers and others try to keep it to themselves. If he's a decent president, he'll inquire into the issue and the officers involved will work like their asses were on fire. Also, the letter will be helpful in case you need to file a court case (hopefully not) to get the title.

[rick9plus]

Thanks sir Pinoymale for the advise.