I am quite new and not really familiar with property laws. I hope you can help and guide me on this.
My friend purchased a lot in antipolo. She bought it in payment terms. 2 years to pay. After few months, hindi kaya ng friend ko na bayaran un monthly dues nya. So in-offer ng friend ko sakin, bayaran ko lang daw ung total equivalent nung nabayad nya and I will continue the monthly payments. I agreed without any documented papers since trusted friend ko naman sya.
Since ang natapos lang naman nya bayaran ay ung monthly payment sa 20% Downpayment, my friend told me that it is easy to transfer the title under my name since hindi pa naman tapos bayaran un lot.
We went to the real estate company kung san nya kinuha un lot and we found out na hindi na pwede i-transfer. And hindi daw ganun kadali yun at kelangan tapusin muna bayaran.
Sa ngayon tapos na bayaran yung lot. Until now, the title is still not under my name. What should be the best thing to do para malipat sa name ko? Any consequences on this? Since ang lumalabas, ako naman talaga ung bumili at nagbayad ng lahat. How about the taxes? Who will cover it?
Looking forward for your advise. Thank you.