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Beware of the word Clean Title
« on: October 23, 2019, 05:50:36 AM »
Written by Julieve Labandero

FYI our dear clients & investors

To all property sellers and Buyers:

Beware of the word “clean title”. You can only call it clean title if;

emoji736 - Beware of the word Clean Title - Real Estate Property owners that appears in the title of the property are still alive and can sign documents
emoji736 - Beware of the word Clean Title - Real Estate Property no disputes attached in the title AND “certified true copy” of the title. Please take note of the “AND” because not all disputes are printed in the original title itself. Thus it is very important to request for the latest certified true copy of the title.
emoji736 - Beware of the word Clean Title - Real Estate Property All real estate taxes are paid on time. Always request for latest real estate tax clearance.
emoji736 - Beware of the word Clean Title - Real Estate Property if the owners are married (on or after 1987) The property is considered conjugal even if only one property owner is in the title. Both should sign sale documents. Should the property owner dies, heirs should file and pay for the estate tax of all the properties.
emoji736 - Beware of the word Clean Title - Real Estate Property if the properties estate taxes are not yet paid, the property cannot be called “CLEAN”.
emoji736 - Beware of the word Clean Title - Real Estate Property magkaiba po ang real estate tax na binabayaran ninyo annually at ang estate tax (BIR FORM 1801) You only pay estate tax if the  owner in the title is already dead. Penalties (like big penalties) apply for late filing.

Public service lang po emoji846 - Beware of the word Clean Title - Real Estate Property. Ang estate tax clearance po is NON-NEGOTIABLE. Kailangan talaga syang efile at bayaran whether you like it or not pagnamatay ang owner na nakalagay sa title.

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