The Legal Side of Real Estate

[gr8kisser_guy]

MASTERS,

 

SOMEONE IS OFFERING ME A "SANLA-TIRA" FOR HER HOUSE AND LOT. ANG SISTE, YUNG TITLE NG NASABING HOUSE & LOT AY NAKA-MORTGAGED PA SA BANGKO. WHAT'S THE BEST WAY TO HANDLE THIS.

 

1. DAPAT BANG BAYARAN NYA MUNA YUNG OUTSTANDING DUE NIYA FROM THE BANK THEN PA-TRANSFER KO YUNG ANNOTATION OF MORTGAGE FROM THE BANK TO ME...PARA MAY PANGHAHAWAKAN AKO IF IN CASE MAGDEFAULT SIYA NG PAYMENT SA BANK.

 

2. ANO YUNG KASUNDUAN OR CONTRACT SA GANITONG TRANSACTION.

 

PLEASE ENLIGHTEN ME ON THESE. THANKS.

[zilch45]

MASTERS,

 

SOMEONE IS OFFERING ME A "SANLA-TIRA" FOR HER HOUSE AND LOT. ANG SISTE, YUNG TITLE NG NASABING HOUSE & LOT AY NAKA-MORTGAGED PA SA BANGKO. WHAT'S THE BEST WAY TO HANDLE THIS.

 

1. DAPAT BANG BAYARAN NYA MUNA YUNG OUTSTANDING DUE NIYA FROM THE BANK THEN PA-TRANSFER KO YUNG ANNOTATION OF MORTGAGE FROM THE BANK TO ME...PARA MAY PANGHAHAWAKAN AKO IF IN CASE MAGDEFAULT SIYA NG PAYMENT SA BANK.

 

2. ANO YUNG KASUNDUAN OR CONTRACT SA GANITONG TRANSACTION.

 

PLEASE ENLIGHTEN ME ON THESE. THANKS.

 

Wala kang panalo dito. In case mag default sya payment sa bank, puede ka i-eject. In the first place, the owner cannot sell or mortage the property anymore as it is already mortgaged/encumbered to the bank. It's a 100% losing proposition for you. DON'T

[moed]

MASTERS,

 

SOMEONE IS OFFERING ME A "SANLA-TIRA" FOR HER HOUSE AND LOT. ANG SISTE, YUNG TITLE NG NASABING HOUSE & LOT AY NAKA-MORTGAGED PA SA BANGKO. WHAT'S THE BEST WAY TO HANDLE THIS.

 

1. DAPAT BANG BAYARAN NYA MUNA YUNG OUTSTANDING DUE NIYA FROM THE BANK THEN PA-TRANSFER KO YUNG ANNOTATION OF MORTGAGE FROM THE BANK TO ME...PARA MAY PANGHAHAWAKAN AKO IF IN CASE MAGDEFAULT SIYA NG PAYMENT SA BANK.

 

2. ANO YUNG KASUNDUAN OR CONTRACT SA GANITONG TRANSACTION.

 

PLEASE ENLIGHTEN ME ON THESE. THANKS.

Clarify natin itong issues na ito. Provisions ng Civil Code na relevant:

Art. 2130- A stipulation forbidding the owner from alienating the immovable mortgaged shall be void.

Art. 2129- A creditor may claim from a third person in possession of the mortgaged property, the payment of the part of the credit secured by the property which said third person possesses, in the terms and with the formalities which the law establishes.

 

Ibig sabihin ang malaking factor dito ay kung magano ang utang at kung magano ang value ng property. Kung ang utang ay mababa kumpara sa value ng property, walang problema at puede mo bayaran ang utang at lamang ka pa. Malamang hinde nya mabayaran ang utang nya sa banko kaya sinasanla sa yo ang bahay. Ibig sabihin nito, second mortgagor ka, kaya kailangan ang equity nya sa bahay ay masmalaki kaysa sa ipapautang mo sa kanya. Ibig sabihin ng equity nya sa bahay ay ang value ng bahay minus ang utang nya sa bangko. Kung P 1M ang bahay at ang utang nya sa bangko ay P 500 thou, ang equity nya sa bahay ay P 500 thou. Kung papautangin mo sya nang P 200 thou tapos singilin ka ng banko ng P 500 thou dahil hinde nya mabayaran, di nakabili ka ng P 1M na bahay for P 700 thousand. Problema lang nga ay kung may cash in hand ka o liquid ka pagsingil ng banko.

[tumbler]

Paconsult naman ako. I bought a condo unit (pre-selling stage palang) last year and hindi pa rin nag-start yun construction until now. Its on deferred payment scheme until 2013 and wala namang down but I am getting worried. Now I am planning to cancel sana. My question is ok lang ba mag-cancel and what are the typical penalties if any? I havent tried contacting the developer and will do so this week or after holidays siguro. Appreciate your inputs.

[Masternone]

Master's

 

Meron po ba kayong books or websites na matututunan ko ang real estate dito sa pilipinas, kasi as in wala akong alam kung papano bumili ng property baka kasi maloko ako pag meron akong mapaginteresan na property.

 

Thanks in Advance.

[moed]

Master's

 

Meron po ba kayong books or websites na matututunan ko ang real estate dito sa pilipinas, kasi as in wala akong alam kung papano bumili ng property baka kasi maloko ako pag meron akong mapaginteresan na property.

 

Thanks in Advance.

 

Real Estate in the Philippines by Edward L. Tan, P350 dati sa National Bookstore. Medyo comprehensive lang nga ito pati development ng subdivision.

[Masternone]

Real Estate in the Philippines by Edward L. Tan, P350 dati sa National Bookstore. Medyo comprehensive lang nga ito pati development ng subdivision.

 

======

 

maraming salamat po sir

[johnlove]

Masters, is there a law requiring condominium developers a deadline on the turning over of the condominium titles to the buyers after the full payment of a condominium unit?

If yes, how much time are we suppose to give to the developer to turn over the title to us before we seek the advise of a legal counsel?

Thank you.

[ehdzdj]

Sirs,

 

Can anyone here help me. I recently purchased a lot in San Pedro, Laguna under Pag-ibig financing (Developer: Filinvest) last 2008. The thing is, under various circumstances, I ended up working in Pampanga. I continue to pay up my monthly dues until now. This situation has led my to a couple of questions:

[ehdzdj]

Sirs,

 

Can anyone here help me. I recently purchased a lot in San Pedro, Laguna under Pag-ibig financing (Developer: Filinvest) last 2008. The thing is, under various circumstances, I ended up working in Pampanga. I continue to pay up my monthly dues, nevertheless. This situation has led my to a couple of questions:

1. Would it be possible to give up my loan and recover whatever I already paid up (monthly amortization, downpayment, etc.? How do I get about the process?

2. Can I just sell the lot, in case somebody's interested? can the buyer just pay me the amount I shelled out and continue paying the amortization.?

3. If in case I was able to sell the lot, can i initiate another housing loan with Pagibig?

 

I really would want to give up the lot since I do not want to burden myself paying for something I am not benefiting from. I do not look at it as an investment at this point. If any of you knows somebody (a buyer or an agent, perhaps) who's interesting in owning a 110 sq-meter lot in San Pedro Laguna, please let me know. The place is in a nice subdivision, not-flood-prone, accessible via muntinlupa, daang-hari and SLEX. Such features invited me to acquire a property there in the first place.

 

TIA

[cutegwapings]

Good morning. Need some advise on how to resolve this family issue about land ownership. My grandparents are separated (not legal) and not in good terms. The land title is under my grandfather's name.

 

To settle the issue, My grandpa wants to split the land in half and give ownership to his eldest daughter, but my grandma doesn't agree and wants 100% of the land and subdivide it equally to her 4 children.

 

What's the best legal action to resolve this issue?

 

Thanks!

[j4ever]

Question lang po...

 

If there are 3 siblings and one those went to the US and became a citizen for around 30 years, so the other 2 remained here. Their parents already died and no will was done. Does the 3 divide the property equally? Does the the US citizen still have the rights for the share, being a citizen of another country or does the other 2 have the rights to the property and have it divided equally among them? TIA....

[j4ever]

Question lang po...

 

If there are 3 siblings and one those went to the US and became a citizen for around 30 years, so the other 2 remained here. Their parents already died and no will was done. Does the 3 divide the property equally? Does the the US citizen still have the rights for the share, being a citizen of another country or does the other 2 have the rights to the property and have it divided equally among them? TIA....

[j4ever]

Question lang po...

 

If there are 3 siblings and one those went to the US and became a citizen for around 30 years, so the other 2 remained here. Their parents already died and no will was done. Does the 3 divide the property equally? Does the the US citizen still have the rights for the share, being a citizen of another country or does the other 2 have the rights to the property and have it divided equally among them? TIA....

[j4ever]

Question lang po...

 

If there are 3 siblings and one those went to the US and became a citizen for around 30 years, so the other 2 remained here. Their parents already died and no will was done. Does the 3 divide the property equally? Does the the US citizen still have the rights for the share, being a citizen of another country or does the other 2 have the rights to the property and have it divided equally among them? TIA....

[rocco69]

Divided by three pa rin, walang epekto ang pagiging Amerikano ng isa (while bawal ang foreigner magmay-ari ng lupa sa Pilipinas, exception ang lupang minana mula sa magulang)

 

Question lang po...

 

If there are 3 siblings and one those went to the US and became a citizen for around 30 years, so the other 2 remained here. Their parents already died and no will was done. Does the 3 divide the property equally? Does the the US citizen still have the rights for the share, being a citizen of another country or does the other 2 have the rights to the property and have it divided equally among them? TIA....

[j4ever]

TYVM Atty. Rocco69. Happy Holidays & God Bless!

[romyg]

to the attorneys of MTC i have a question....i have an empty lot in a subdivision...the homeowners' association is recently formed and they decided on a monthly fee which i think is too high...they say this will be use to pay security guards, garbage etc which is understandable..however, they want empty lot owners to pay the same rate....can they force me to pay or if i do not pay what can they do....my lot is fully paid already (it is just an investment for the future, i already have a house in another place)...thanks guys/gals

[rocco69]

they can't force you to pay. pero, they can impose penalties for your refusal to pay. See Republic Act 9904.

 

to the attorneys of MTC i have a question....i have an empty lot in a subdivision...the homeowners' association is recently formed and they decided on a monthly fee which i think is too high...they say this will be use to pay security guards, garbage etc which is understandable..however, they want empty lot owners to pay the same rate....can they force me to pay or if i do not pay what can they do....my lot is fully paid already (it is just an investment for the future, i already have a house in another place)...thanks guys/gals

[romyg]

they can't force you to pay. pero, they can impose penalties for your refusal to pay. See Republic Act 9904.

 

 

 

thanks a lot....next question..what do you advice? i read Rep. Act 9904....accdg to Section 22 A they can not force me to join the association....tama ba ang intindi ko...i wish i have taken up law....thanks again

Edited January 2, 2012 by romyg

[rocco69]

Yup, they can't force you to be a member.

However, Section 5 says that you still have to pay the necessary fees and charges in order to enjoy basic community services and facilities. And your problem is that the homeowner's association will consider you as enjoying community services and facilities (and will charge you for it), even if you don't actually live there. when you sell your lot, the buyer will be unable to put up a structure on the property without getting a clearance from the association (which will not give one unless all arrears are paid).

 

my advice... pay up (or let your buyer pay up when he buys the lot).

 

if you think the fees are too high, run for office next time the association holds elections.

 

thanks a lot....next question..what do you advice? i read Rep. Act 9904....accdg to Section 22 A they can not force me to join the association....tama ba ang intindi ko...i wish i have taken up law....thanks again

Edited January 2, 2012 by rocco69

[superfunkibey]

Don't know if this would be the correct thread but I am looking for referrals for a respectable lot appraiser for one piece of property in Valenzuela. Just pm me.

 

(Please move if it's in the wrong topic, Thank You)

[romyg]

Yup, they can't force you to be a member.

However, Section 5 says that you still have to pay the necessary fees and charges in order to enjoy basic community services and facilities. And your problem is that the homeowner's association will consider you as enjoying community services and facilities (and will charge you for it), even if you don't actually live there. when you sell your lot, the buyer will be unable to put up a structure on the property without getting a clearance from the association (which will not give one unless all arrears are paid).

 

my advice... pay up (or let your buyer pay up when he buys the lot).

 

if you think the fees are too high, run for office next time the association holds elections.

 

 

 

thanks again....buying this lot, i thought would be a good investment....nagiging liability pala...anyway thanks again, i will probably sell the lot, sayang prime location pa naman ang nabili ko (will also probably ask the potential buyer to pay the association dues)

[wizard23]

May I seek legal advice:

 

Here's client's situation:

 

1. He bought a townhouse a few years ago with his girlfriend back then. They bought the unit via bank financing. (both are Filipinos)

 

2. Along the way, the relationship did not work out. The guy continued paying the monthly amortization up to this day. Amortization is still several years away from being fully paid.

 

3. The guy's fault is that he did not make sure that the name be changed solely by the developer to his name prior to the Downpayment. Now the title with the bank is in the name of the guy and his ex-girlfriend. (he claims he made a request but he does not have a receiving copy of the said request so the developer pushed through with the original contract ie., reflecting the guy and ex-girlfriend's name)

 

4. The guy is contemplating on selling the unit and there's an interested buyer.

 

Question:

 

1. Can the guy secure a SPA from the ex-girlfriend so that if the unit was sold to another party, the guy can sign in behalf of the ex-girlfriend?

 

2. What is the implication if the ex-girlfriend is already married? Does this mean that the guy has to secure conformity/signature of the ex-girlfriend's husband?

 

Appreciate your advice. Thank you.

[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