The Legal Side of Real Estate

[brian croser]

Thanks wizard and ela bat for your replies!

[ela_bat]

sir with all due respect I think your question is better answered by your lawyer. I think sir your lawyer is more that competent to answer your question and take care of your rights

[redax]

Mga Sir,

 

Magtatanong ho ulit...

 

a certain piece of property (333 m2) with improvements in QC is up for sale, the TCT is under the name of the seller, a agreement was made between the seller and the buyer that;

 

1. to subdivide the property into 2

 

200 m2 will be sold to the buyer (this where the old house is located)

133 m2 will be retained by the seller

 

My question is;

 

a. When the TCT is sent to BIR/RD to be subdivided. Is it posible to transfer the 200 m2 directly to the buyer?

Initial information that was obtained says that the seller have to applied for subdivision of lot and the title of 2 lot

(200 and 133) will be under his name. tsaka pa lang pwedeng i transfer yung 200 m2 sa buyer.

 

b. If direct transfer is posible, ano po ang procedure, (deed of sale, cgt, lot plan, etc) tsaka gaano kaya katagal aabutin

ang processing.

 

c. If direct transfer is NOT posible, ano po ang procedure, (deed of sale, cgt, lot plan, etc) tsaka gaano kaya katagal aabutin ang processing.

 

sana po masagot, importante lang.....Thanks in advance

 

It would be easier for you if you have the seller subdivide the title to the property first, that way, all you would have to do is get the title to the lot you are buying and the deed of sale upon payment of the sale price. Then you proceed with the necessary steps to change the title to your name which if you backread, has already been presented here.

[jbcast86]

my mistake, maybe i should have re-phrase my question..

 

Magtatanong ho ulit...

 

a certain piece of property (333 m2) with improvements in QC is up for sale, the TCT is under the name of the seller, a agreement was made between the seller and the buyer to do the following;

 

1. to subdivide the property into 2 (meaning 2 TCT ang lalabas)

 

200 m2 will be sold to the buyer (this where the old house is located)

133 m2 will be retained by the seller

 

2. after lumabas yung 2 TCT, tsaka pa lang i pa process yung transfer ng 200 m2 sa pangalan ng buyer.

 

My question is;

 

a. When the TCT is sent to BIR/RD to be subdivided. Is it posible to transfer the 200 m2 directly to the buyer?

Initial information that was obtained says that the seller have to applied for subdivision of lot and the title of 2 lot

(200 and 133) will be under his name. tsaka pa lang pwedeng i transfer yung 200 m2 sa buyer (tama ho ba?).

 

b. Is direct transfer is posible during the course of sub-dividing the lot, ano po ang procedure, (deed of sale, cgt, lot plan,

etc) tsaka gaano ho kaya katagal aabutin ang processing?

The buyer dont have the luxury of time in waiting for the lot to be subdivided into 2 TCT under seller's name, and then

process it again para ma transfer sa pangalan ng buyer yung 200 m2

 

sana po masagot, importante lang.....Thanks in advance

[pol22366]

wla na ung lawyer eh di nanamin kuknin.please help lang kahit guide as to what is next.

 

Hello.

 

If you're going to replace your lawyer, you have the right to get all the files in his possession so that you can give it to your new lawyer who will have to reconstruct the Court records...However, your present lawyer has the right to retain the files if you have not yet settled all your fees, reimbursements, etc. with him.

 

My suggestion is that you communicate with your present lawyer first and get your files, before moving on.

[cirrus2007]

I had acquired a townhouse unit on year 2000 and fully paid on year 2006; I have already cleared paying the real property tax with our municipal up to this year 2008. According to NHMFC, there is a 12,000 VAT I need to pay; is this the CGT?

[cirrus2007]

Another case, amigos!

I had acquired a parcel lot in Mindanao last year (August 2007). Received the Deed of Sale with notarial; paid 83% of agreed price; will pay the balance upon receipt of the title. But to this date, I have not received the title. I doubt the seller could return my money if I decided to cancel the deed of sale (is cancellation possible?). Do you have remedy or recommended action items I could take to push the seller to give me the TCT? or is this (titling) my responsibility?

[ela_bat]

The first thing you should do is have the deed annotated (adverse claim) with the registry of deeds or the city/municipal assessor so that third parties can be notified of such deed of sale. Second, send a demand letter to the seller. If he still refuse to give you the title (TCT) you have no other recourse but to file a case against the seller for specific performance, asking him to fulfill his obligation in the deed of sale plus damages.

[cirrus2007]

The first thing you should do is have the deed annotated (adverse claim) with the registry of deeds or the city/municipal assessor so that third parties can be notified of such deed of sale. Second, send a demand letter to the seller. If he still refuse to give you the title (TCT) you have no other recourse but to file a case against the seller for specific performance, asking him to fulfill his obligation in the deed of sale plus damages.

 

Thanks for the reply, bro!

Clarification pls on annotating the deed of sale; is this a must for a Deed of Sale?

Regarding the TCT, am afraid or I doubt if the TCT is availalbe; I think the lot is due for registration, that's why I hold paying the whole price. What's my recourse on this case?

Thanks again!

God-speed!

[ela_bat]

Thanks for the reply, bro!

Clarification pls on annotating the deed of sale; is this a must for a Deed of Sale?

Regarding the TCT, am afraid or I doubt if the TCT is availalbe; I think the lot is due for registration, that's why I hold paying the whole price. What's my recourse on this case?

Thanks again!

God-speed!

 

 

As i said in order to protect your right against third party have the deed annotated. This will be a warning to all potential buyers that there is a existing deed of sale with respect to the said land. Now with respect to the tct, i can not understand what you are saying. Are you saying that you bought a land that is only evidenced by a tax declaration or is the tct loss?

[ela_bat]

Thanks for the reply, bro!

Clarification pls on annotating the deed of sale; is this a must for a Deed of Sale?

Regarding the TCT, am afraid or I doubt if the TCT is availalbe; I think the lot is due for registration, that's why I hold paying the whole price. What's my recourse on this case?

Thanks again!

God-speed!

 

 

As i said in order to protect your right against third party, you have to have the deed annotated with the RD. This will be a warning to all potential buyers that there is a existing deed of sale with respect to the said land. Now with respect to the tct, i cannot understand what you are saying. Are you saying that you bought a land that is only evidenced by a tax declaration or is the tct loss?

Edited September 29, 2008 by ela_bat

[redax]

my mistake, maybe i should have re-phrase my question..

 

Magtatanong ho ulit...

 

a certain piece of property (333 m2) with improvements in QC is up for sale, the TCT is under the name of the seller, a agreement was made between the seller and the buyer to do the following;

 

1. to subdivide the property into 2 (meaning 2 TCT ang lalabas)

 

200 m2 will be sold to the buyer (this where the old house is located)

133 m2 will be retained by the seller

 

2. after lumabas yung 2 TCT, tsaka pa lang i pa process yung transfer ng 200 m2 sa pangalan ng buyer.

 

My question is;

 

a. When the TCT is sent to BIR/RD to be subdivided. Is it posible to transfer the 200 m2 directly to the buyer?

Initial information that was obtained says that the seller have to applied for subdivision of lot and the title of 2 lot

(200 and 133) will be under his name. tsaka pa lang pwedeng i transfer yung 200 m2 sa buyer (tama ho ba?).

 

b. Is direct transfer is posible during the course of sub-dividing the lot, ano po ang procedure, (deed of sale, cgt, lot plan,

etc) tsaka gaano ho kaya katagal aabutin ang processing?

The buyer dont have the luxury of time in waiting for the lot to be subdivided into 2 TCT under seller's name, and then

process it again para ma transfer sa pangalan ng buyer yung 200 m2

 

sana po masagot, importante lang.....Thanks in advance

 

If you already have an agreement as mentioned in 1 and 2, why worry about the options. Your agreement is the easier way to do it, where it is subdivided

by the registered owner first, then sold so that the whole lot subject of sale is in 1 tct. The options you are considering may be done, but since it is not

a regular transaction and is more complicated, will entail extra "fees". Usually, only persons like real property dealers have such a relationship with the RD

in their area that they can do it.

[cirrus2007]

Gentlemen:

Could you tell how the Capital Gains Tax is computed? And accompanying "penalty" for late payment?

Thanks!

[azayco]

^^

 

Capital gains on sale of real property:

 

(Fair Market Value or Gross Selling Price, whichever is higher) x 6%

 

Due date: 30 days from the date of sale

 

Penalty: 25% of above

 

Interest: 20% per annum from the date it should have been due until full payment

Edited September 30, 2008 by azayco

[cirrus2007]

^^

 

Capital gains on sale of real property:

 

(Fair Market Value or Gross Selling Price, whichever is higher) x 6%

 

Due date: 30 days from the date of sale

 

Penalty: 25% of above

 

Interest: 20% from the date it should have been due until full payment

 

-----

Thanks man!!!! This was quick!

:thumbsupsmiley:

[cirrus2007]

^^

 

Capital gains on sale of real property:

 

(Fair Market Value or Gross Selling Price, whichever is higher) x 6%

 

Due date: 30 days from the date of sale

 

Penalty: 25% of above

 

Interest: 20% per annum from the date it should have been due until full payment

 

Bro, follow-up question...... can I pass the CGT to the buyer? Am I not violating BIR rules on CGT, beside there's written agreement between the buyer and the seller.

[azayco]

^^

 

You can pass on the payment of the amount of the CGT (through, for example, imputing it in the selling price), but you will be filing the CGT return. You, as the seller, are required to file the CGT return.

[moed]

The buyer can pay the capital gains tax for the account of the seller. Have done this personally and is usually done as the buyer will be left in a bind if seller does not pay capital gains tax. It is the buyer who will be at a loss if cgt not paid as the Certificate Authorizing Registration will not be released and he won't be able to transfer tct to his name.

[cirrus2007]

Thank you gentlemen for the clear reply!

:thumbsupsmiley: :mtc:

[cirrus2007]

Guys, is it legal for developer not to refund downpayment if a client wishes to cancel the purchase. Please advise. Thanks.

[azayco]

The cancellation will be subject to the Maceda Law (RA 6552 - You can Google it. It's a rather short law.).

 

If the buyer has made less than two years of installments, you have to give him a grace period of 60 days. After that, you can cancel the contract. The buyer does not get any refund for payments made.

 

If the buyer had made more than two years of installments, you need to give him a grace period equivalent to one month for every one year of installments paid. If you decide to cancel the contract, you need to refund 50% of the installments made during the first five years. The term "installments" covers downpayments and deposits. The 50% figure will increase by 5% for every year in excess of the five years, with the maximum refund amount capped at 90%.

 

Hope that helps.

[checkline_princess]

[center]Hello po! I need help po.

 

Scenario is:

 

My mother and father bought a piece of land in North Fairview without my knowledge. Since mabilis silang mniwala sa "SALES TALK" nung seller. Kinuha nila ung lot. That was 2 years ago. I checked the title, and unfortunately, hndi sia titulo. Its a certification saying that they already paid the lot . I tried checking but my mom said that she's really not aware about it. Wherein, seller promised that MY PARENTS will be getting a title soon. So we waited.

 

After probing/asking questions sa mga neighbors, we found out that the property that my PARENTS bought is a "RIGHTS" .. A nd i dont even know what that is.

 

Then after a while, napatayuan na nmin ung LOT and nkalipat narin ung parents ko. Suddenly, may nag CLAIM ng land. Saying na sa kanya daw yun and its under her name and they are paying for the "tax" eversince. So wala kmeng nagawa. Pinagtataka ko, magkakilala ung pnagbilhan ng mom and dada ko ng LOT at ung (nagke-CLAIM) NA ORIGINAL na may ari..

 

And saka lng nagpakita ung "CLAIMANT " nung natapos na agawa ung bhay dun sa LOT na "RIGHTS" na nabili nmin. Kumuha kme ng abOGADO PARA "sana matulungn " KME.

 

bUT ALMOST A YEAR NA UNG CASE AND NAG AATEND NG HEARING ANG MOM AND DA KO REGULARLY. kYA LNG last week TUMAWAG UNG "claimant" SAMIN SAYING THAT We SHOULD LOOK FOR ANOTHER LAWYER kc pineperahan lng daw kme and we werent inform na "MAY HEARING PLA NA NAGANAP NUNG TWO WEEKS AGO" so ang nangyari wlang umatend sa side namin dahil nga hndi kme na inform nung "ABOGADO" although "ALAM Nia na may hearing pla.

 

Lumalabas sa case, na parang talo na ata kme. And we need to evacuate the place in 3 weeks only or else ipasasara daw ung bhay and ndi na nmn mkukuha ung gamit nmn or whatever.

 

Accepted nmn nmin na baka nga wala kmeng laban kasi nga RIGHTS ung nabili and BGLANG MAY CLAiMANT sa LOT NA nbili ng PARENTS ko. Pero kasi may nkatayong bhay at its our expense. Ang mangyayari ata, pag na-turn over ung LOT dun sa "CLAIMANT" wla rin kmeng karapatan na mkuha ung nagastos or even half or one fourth amount dun sa nakatayong bhay.

 

NDI TALAGA AKO FAMILLIAR SA PROCESS NG LEGAL DEPT REGARDING THE ISSUE. gUSTO KO LNG MLALMAN IF WALA BA TLGA KMENG MKUKUHA MASKI PISO SA BHAY NA NAPAG GASTUSAN NMN NA NKATAYO NA SA LAND NUNG CLAIMANT?

 

UN LNG NMN. THANKS IN ADVANCE! [/center]

[Dr_PepPeR]

[center]Hello po! I need help po.

 

Scenario is:

 

My mother and father bought a piece of land in North Fairview without my knowledge. Since mabilis silang mniwala sa "SALES TALK" nung seller. Kinuha nila ung lot. That was 2 years ago. I checked the title, and unfortunately, hndi sia titulo. Its a certification saying that they already paid the lot . I tried checking but my mom said that she's really not aware about it. Wherein, seller promised that MY PARENTS will be getting a title soon. So we waited.

 

After probing/asking questions sa mga neighbors, we found out that the property that my PARENTS bought is a "RIGHTS" .. A nd i dont even know what that is.

 

Then after a while, napatayuan na nmin ung LOT and nkalipat narin ung parents ko. Suddenly, may nag CLAIM ng land. Saying na sa kanya daw yun and its under her name and they are paying for the "tax" eversince. So wala kmeng nagawa. Pinagtataka ko, magkakilala ung pnagbilhan ng mom and dada ko ng LOT at ung (nagke-CLAIM) NA ORIGINAL na may ari..

 

And saka lng nagpakita ung "CLAIMANT " nung natapos na agawa ung bhay dun sa LOT na "RIGHTS" na nabili nmin. Kumuha kme ng abOGADO PARA "sana matulungn " KME.

 

bUT ALMOST A YEAR NA UNG CASE AND NAG AATEND NG HEARING ANG MOM AND DA KO REGULARLY. kYA LNG last week TUMAWAG UNG "claimant" SAMIN SAYING THAT We SHOULD LOOK FOR ANOTHER LAWYER kc pineperahan lng daw kme and we werent inform na "MAY HEARING PLA NA NAGANAP NUNG TWO WEEKS AGO" so ang nangyari wlang umatend sa side namin dahil nga hndi kme na inform nung "ABOGADO" although "ALAM Nia na may hearing pla.

 

Lumalabas sa case, na parang talo na ata kme. And we need to evacuate the place in 3 weeks only or else ipasasara daw ung bhay and ndi na nmn mkukuha ung gamit nmn or whatever.

 

Accepted nmn nmin na baka nga wala kmeng laban kasi nga RIGHTS ung nabili and BGLANG MAY CLAiMANT sa LOT NA nbili ng PARENTS ko. Pero kasi may nkatayong bhay at its our expense. Ang mangyayari ata, pag na-turn over ung LOT dun sa "CLAIMANT" wla rin kmeng karapatan na mkuha ung nagastos or even half or one fourth amount dun sa nakatayong bhay.

 

NDI TALAGA AKO FAMILLIAR SA PROCESS NG LEGAL DEPT REGARDING THE ISSUE. gUSTO KO LNG MLALMAN IF WALA BA TLGA KMENG MKUKUHA MASKI PISO SA BHAY NA NAPAG GASTUSAN NMN NA NKATAYO NA SA LAND NUNG CLAIMANT?

 

UN LNG NMN. THANKS IN ADVANCE! [/center]

 

What kind of case is this? Where was it filed? Has the decision become final and executory? If you were defrauded by the seller, then you also have a right of action against him. Your lawyer should have filed a third party complaint and interpleaded the seller.

[checkline_princess]

Hi thanks for the immidiate response DR. PEPPER!

Hndi nag suggest ung lawyer ng ganun ee. Lets say NOOB tlga kme wen it comes to "LEGAL THiNG" wat we did is to follow the INSTRUCTiON OF OUR LAWYER. For now, naghahanap pa kme ng mas makakatulong sana. Kasi its mahirap sobra. Our lawyer nmn is parang "HiNDi NA NGiNG HELPFUL recently. and yun na nga kinagulat nmin wherein "CLAiMANT" called us to say na "WE NEED TO FiND ANOTHER LAWYER cos NiLOLOKO LANG DAW KME OR PiNEPERAHAN etc.. " I really dunno wat will happen next. Can we still do anything pa ba (my family)? Do we have chance pba to win at least khit ung gastos lang sa bhay na pnaghirpn din nmn .. Thank u so much. Case is not yet closed I GUESS kaci may LAST HEARING pa three weeks from now. Pero guSto sana nmn humanap n ng bagong LAWYER na sobrang MAKAKATULONG kasi we really dont know wat wil happen next. And also, ung hearing nagaganap sia sa QC Hall. Somewhere dun sa mga mini rooms dun.. I dont know tlga. Sorry .. Pls bare with me.

[azayco]

Since the next hearing is only three weeks away and you want to change your lawyer, try to get all the original documents from your current lawyer ASAP. Of course, expect him to require you to pay all his unsettled legal fees and expenses, if any.

 

At the same time, you can shop around for a new lawyer. Once you have found one, terminate your current lawyer and engage the services of the new lawyer. The current lawyer will have to file his withdrawal of appearance with the court and the new lawyer will have to enter his appearance.

 

Make sure that the terms of engagement of the new lawyer are clear particularly "how much are his fees" and "what is the scope of his engagement."

 

Good luck! It's okay. I can bare with you. Just kidding.