Author Topic: (16) FAQ About Real Properties-Steps in Titling Real Properties  (Read 1093 times)

tagalomanoy

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(16) FAQ About Real Properties-Steps in Titling Real Properties
« on: January 11, 2009, 03:59:24 PM »
1.Foremost, before making any commitment to buy, ask for the Certified True Copy of the Title of that property you intend to buy.  It might be possible that the title was used as collateral for a loan or used as bond, or have  some pending claim against the title.  YOU CAN NOT TRANSFER THIS KIND OF PROPERTY UNLESS PAID OR SETTLED.

2. Try to check if the Title is issued under CARP, there is the portion there which says, " issued under R. A. No. 6657 or the Title says TCT No. EP-123, etc.  You have to verify this CARP title can not be sold within the 10-year period from the date of the title and that the obligation of the tenant must be first settled with Landbank, before he can sell it.

3. Visit the City Treasurer for unpaid real property tax.  This would be part of your negotiation if the tax is not yet paid.  You will not be issued  Clearance of Full Payment If the Seller has not paid all his tax obligations.
4. Visit the City Assessor's Office-the tax declaration might be stamped " USED as Bonds" or Under Levy for Non Payment of Real Property Tax, OR MORTGAGED TO A Bank

Step 1 - Lawyer, Where you the buyer and all those Sellers will be there to ask your trusted Lawyer to prepare for you the necessary documents

After you have taken hold of the title-this is a legal announcement to the whole  world that you are a part owner of the universe, and therefore you can sing the famous song' THIS LAND IS MINE, I BOUGHT THIS LAND FROM HIM."

Step 2 - Assessor's Office-To get a certified true copy of the tax declaration of the property you want to buy.

Step 3 - City Treasurer-To get a Tax Clearance Certificate that the property you want to buy has been fully paid UNTIL THE CURRENT YEAR. This is the Office where you will pay your Transfer Fee
YOU Have to bring the Deed of Absolute Sale and the Tax Declaration , because in paying the City Treasurer of the Transfer Fee, they will compare the amount of the consideration per Deed of Sale against the Market Value of the the property per tax declaration

Step 4 - Bureau of Internal Revenue-Bring all the papers accumulated from Step 1 to Step No. 3
to the BIR's Office and present all of fit to the Desk Officer of the day.  You will be assessed how much you have to pay for the capital (6%) and documentary stamps (1.5% ) of the amount per Deed of Sale or the BIR Zonal valuation WHICHEVER IS HIGHER;

Important- Before you have to give all the papers to the Register of Deeds, see to it that you have xerox all for your personal file.  there are few cases where one or if not all of your documents are lost in the process. It might not be of your own making, but certainly, you will be in great trouble.

Step No - 5 Register of Deeds Again bring all of the documents accumulated from Step 1 to Step 4 to the Register of Deeds.  Give that to the clerk assigned for entry.  You are  required a minimal fee for fees and for the issuance of titles.

Step No - 6 Go back to the City Assessor and request one of those appraisers to transfer the old tax declaration in your name based on the new title you have now in possession.
Bring with you the following and have it xerox:

1. Xerox copy of the new title.
2. Copy of the tax clearance issued by the Treasurer.
3. In some Assessor's Office, you are required to present a copy of the Certificate Authorizing Registration or CAR.
4. A copy of the Deed of Sale;
5. Copy of the old tax declarations
No fees are required in the transfer of the tax declaration in your name.

PS-In all government offices, you will be advised when to come back to get the required copies you are requesting.

WITH YOUR TITLE AND TAX DECLARATIONS IN YOUR NAME, THIS IS A LEGAL ANNOUNCEMENT TO THE WHOLE WORLD THAT YOU OWN PART OF THE UNIVERSE.  WITH IT, YOU CAN NOW SING 'THIS LAND IS MINE. I BOUGHT THIS LAND FROM HIM"





















































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ALEJANDRO TAGAB LAGANSON, SR.
Purok 25-A, Teachers Village, Calinan, D. C.
Licensed Real Estate Broker PRC 0009807
Real Property Asessing Officer (CSC & DOF)ROR 3351 Email  ad: [email protected]

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hofelina

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Re: (16) FAQ About Real Proeprties-Steps in Titling Real Properties
« Reply #1 on: January 11, 2009, 05:12:45 PM »
Hallo Taga Lomanoy, Lila Bohol!

Daghang salamat sa imong infos kay ma-mroblema tingali ko sa akong mga properties nga napalit more than 10 yrs ago ug ahngtod karon wala pay titulo. Ni-a ko sa gawas ug kana akong yuta na-a sa Lumangog Ubay. Lain ang nag atiman, very close friend. I think it is high time to take a look on this land.

Have a blessed Sunday,
Manay Tess

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tagalomanoy

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Re: (16) FAQ About Real Properties-Steps in Titling Real Properties
« Reply #2 on: January 11, 2009, 07:58:20 PM »
Tess,

Yes, its really the best appropriate time when we have still our senses and faculties
In Bohol, the property is sold to you even without papers because we trust so much.  But time and environment had changed.  Gone were the yesteryears when our Lolo will simply say, the land from that tugas tree to the banana is ours.  Remember banana grow fast and mawala pud ug dali.  MOSIBUG Pa.  But tagsa  ra ang nag-away ug bouundary.

Kanang imong yuta basig wala pay titulo sa niadtong mga lolo pa.  Wala na pud ang mga anak, apo na lang.  That is a long process, tedious pa jud.  You have to make e xtrajudicial partitions under different layers. Just feel free to PM me in the internet.  I  can be of help to you.   Asa ka tuod, dugay ka na ba diha.  YOU KNOW I am still scouting for a place for my daughter who is a Nurse. As of now, she is undergoing OJT in one of the hospitals of Davao City.  UNSA PUD DIAy imong t rabajo.  Tabangi ra usab ko.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=17132.0
ALEJANDRO TAGAB LAGANSON, SR.
Purok 25-A, Teachers Village, Calinan, D. C.
Licensed Real Estate Broker PRC 0009807
Real Property Asessing Officer (CSC & DOF)ROR 3351 Email  ad: [email protected]

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