1. Property is under my tito and tita's name. My tito recently murdered, case still under investigation.
2. They used property as collateral for loan in bank. But its on its last year of amortization. My tita said under her circumstances, loan is considered fully paid.
Do we need other documents/taxes/fees considering these issues? Someone mentioned it has to be reported to BIR to avoid penalty..judicial something i'm not sure what it is.
If her selling price is 15M, can you give breakdown /computations for the taxes and other fees to be paid.
Can you also give me a copy of the documents we need, like deed of absolute sale? Can we use the generic ones found on the internet?
would appreciate your response