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Deed of Absolute Sale of Real Property

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1 Deed of Absolute Sale of Real Property on Sun Mar 03, 2013 11:57 pm

Rolando Rebamontan


Arresto Menor
Good evening!

We were able to buy a real property last 2004, the original Certificate of land Title is already on our hand and we have a Deed of Absolute Sale but not notarized, is it possible to notarize it now or will the Register of Deeds honor that unnotarized Deed of Absolute Sale so that we can process the transfer of ownership of the property? Or what is the legal remedy on this matter?

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2 Re: Deed of Absolute Sale of Real Property on Mon Mar 04, 2013 6:43 am

madis7788


Arresto Menor
Good day attorney!

I am i a process of buying a farm lot in Bulacan Malalag Davao Del Sul. The owner actually emailed me documents showing that she/he is the actual owner of the said land. Before I give the owner any of my hard earning money, I want to do a research, or back ground check, as to see if these person that I am dealing with is the real owner. Having said that, where should I go and how do I about to do that?. I have heard/read quite a few negative stories when it comes to buying property in the Philippines. I have also read that they don't have any Land Title Insurance Company in the Philippines because the National Office of Register of Deeds is so screwed up that NO one in their right mind will considering buying property in P.I.
Another thing, my sister bought a land in Manita 5 years to pay. She is done paying last year but she don't have the title on her name yet. I have asked her about it, and just reply..."they are working on it!" is that normal process?.

Please...I am begging for advise before I proceed with the purchasing the said property.


Sincerely,


Maddie

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3 Re: Deed of Absolute Sale of Real Property on Mon Mar 04, 2013 7:28 am

jd888


moderator
Good evening!

We were able to buy a real property last 2004, the original Certificate of land Title is already on our hand and we have a Deed of Absolute Sale but not notarized, is it possible to notarize it now or will the Register of Deeds honor that unnotarized Deed of Absolute Sale so that we can process the transfer of ownership of the property? Or what is the legal remedy on this matter?

The Deed of Sale is still valid, it is due for Notarization. Actually it is a good idea to have it notarized when you are ready to have it transferred to your name, just make sure no particular date has been typed within the Deed, only blank areas for dates so that the Notary Officer will just write the date.


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Please be reminded that this advice is based solely on the facts you have narrated and my appreciation of the same. My opinion may vary when other facts are changed or elaborated.
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4 Re: Deed of Absolute Sale of Real Property on Mon Mar 04, 2013 7:44 am

jd888


moderator
madis7788 wrote:Good day attorney!

I am i a process of buying a farm lot in Bulacan Malalag Davao Del Sul. The owner actually emailed me documents showing that she/he is the actual owner of the said land. Before I give the owner any of my hard earning money, I want to do a research, or back ground check, as to see if these person that I am dealing with is the real owner. Having said that, where should I go and how do I about to do that?. I have heard/read quite a few negative stories when it comes to buying property in the Philippines. I have also read that they don't have any Land Title Insurance Company in the Philippines because the National Office of Register of Deeds is so screwed up that NO one in their right mind will considering buying property in P.I.
Another thing, my sister bought a land in Manita 5 years to pay. She is done paying last year but she don't have the title on her name yet. I have asked her about it, and just reply..."they are working on it!" is that normal process?.

Please...I am begging for advise before I proceed with the purchasing the said property.


Sincerely,


Maddie



@madis7788 of Utah. It sometimes takes a little while for the processing of transfer to finish.

One thing to check if the Land Title is Authentic and Clean is to have your relative checked it with the Local ROD at Davao.

The process has been the same for the last several years and the numbers of problematic cases is just very few.


_________________
Please be reminded that this advice is based solely on the facts you have narrated and my appreciation of the same. My opinion may vary when other facts are changed or elaborated.
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5 Re: Deed of Absolute Sale of Real Property on Mon Mar 04, 2013 10:31 am

madis7788


Arresto Menor
Thank you for you in put on it, truly appreciated it!

The seller and I agreed to a 35% down payment, and 20 months to pay for the remaining balance,and on top of that, I pay all the closing cost and that includes transferring the the title into my name to that effect.Therefore, giving the time frame within 20 months, with inflation and what not, how much closing cost are we talking here? and I also heard about a "Capital Gain Tax?" would that necessarily applies when you are buying property? NO...clue!

Sincerely,


Maddie

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6 Re: Deed of Absolute Sale of Real Property on Sun Mar 10, 2013 3:54 am

karl704


Prision Mayor
In your case capital gains tax is applicable. You would also have to pay Documentary stamp tax, real estate tax, transfer tax. All in all 10% more or less.

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7 Re: Deed of Absolute Sale of Real Property on Tue Mar 12, 2013 4:10 am

d.yolk


Arresto Menor
Maganda araw po,

Gusto ko po sana humingi ng advice kung ano dapat kong gawin sa aking lupa na nabili. Ako poy naka bili ng lupa sa isang realstate. Dalawa po kami ng aking asawa ang nka pirma sa contrata at sa bawat resibo ng aming bina bayad ay naka pangalan lagi sa amin. Bago po namin nabayaran ng buo ang lupa inabisuhan po namin ang realstate na ipangalan lamang sakin ang deed of abolute sale at ang titulo ng lupa.

Sa di magandang pang yayari nag ka hiwalay po kami ng asawa ko kami po ay divorce na Pro hindi na po namin sinabi pa sa realstate yung sitwasyun namin na hiwalay na dahil sa tingin ko po ay dinaman na kelangan pa. Nga yun payag naman po ang dati kong asawa na sa akin lang ipangalan lamang ang lupa dahil alam naman nya nasa akin iyon at pera ko ang pinang bili ko.

Pero ang realstate ang sabi po nila nun una ay kelangan namin pumirma ng dati kong asawa ng
documents para ma gawa yung gusto namin mang yari. At sinabi din nila na ang mang yayari eh tulad ng donor tax at ang magagastos ko sa pag processo nun eh kumulang o humigit 150,000 peso depende pa daw kung sino ang naka duty sa araw na iyon.
Nga yun po ito po ang sabi nila,

Our officer told me that it is okay with them to change the name that would appear on the title as solely in your name. But by law it is PROHIBITED to change name from husband to wife or wife to husband.

First option: They are giving their conformity to you to prepare the documents as you requested but you will be the one to process the transfer of title.

Second option: We can take the risk to transfer the title for you and you give us a letter that whatever expenses that will be incurred will be shouldered by yourselves.

At hiningi ko po ang mga listahan na mga babayaran at ito po

ESTIMATED TRANSFER COSTS EXPENSES:
1. Notarial fee - 2,000.00
2. Documentary Stamp Tax * 33,750.00
3. Certification fee - 100.00
4. Transfer fee * 9,950.00
5. Registration fee - 14,000.00
6. Miscellaneous expenses - 2,500.00
7. Share on realty tax (pro-rata)
8. Possible Donor's tax due to Transfer of Rights 78,000.00

TOTAL 140,300.00


*Tax Base - whichever is higher
Selling price 1,978,125.00
Zonal Value - 750sqm x 3,000/sqm 2,250,000.00
Assessed value

Yan po ang listahan ng mga babayaran daw. Tapos ng tinanong ko po yung about dun sa second option na sina sabi nila na may risk daw eh ito naman ni reply nila

Regarding your concern in the name to appear on the Deed of Absolute Sale...

We seek the advise from our lawyer. He told us that the easiest way to do is continue the Deed of Absolute Sale in the name of both Spouses. Then you rest for maybe 6 months and transfer again the title to your name or to any of your representative. This may cost you more.

I suggest that you also seek the advise from other lawyer so we can compare and decide.

Tapos ito pa

Sir, I told our officer of what we have discussed this morning. The lawyer is asking: what is the reason why you are requesting us to name the Deed of Absolute Sale solely under your name and not Spouses anymore?

Tapos ito pa

We are sorry if you take offense with the question of our lawyer. He is trying to find a valid legal reason the realstate can cite to the Bureau of Internal Revenue for the change in name of ownership. As it is, we regret we cannot accede to your request for change of owners' name for the Deed of Absolute Sale even if you both sign a letter of consent.

Yan po ang mga reply nila sakin. Pero wala po ako mata nungan kasi ofw po ako sa middle east dito po ko nag tatrabaho. Wala naman po ako ma utusan samin matanda na din po kasi ang parents ko.

Ano po ba sa tingin nyo ang dapat kong gawin para po ma ipangalan skin un deed of absolute sale at un titulo ng lupa ko?

Sana masagot nyo mga tanong ko at matulungan nyo ko kung ano dapat gawin.

salamat po.

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8 Re: Deed of Absolute Sale of Real Property on Tue Mar 12, 2013 5:17 am

karl704


Prision Mayor
Anong mga documents yung hiningi mo dito sa "First option: They are giving their conformity to you to prepare the documents as you requested but you will be the one to process the transfer of title."?

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9 Re: Deed of Absolute Sale of Real Property on Tue Mar 12, 2013 5:21 am

d.yolk


Arresto Menor
Wala naman ko hininging documents sa kanila ang gusto ko lng mang yari eh mapa tituluhan ko lng yun lupa ko sa pangalan ko lamang.

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