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Transfer of Land titile with extra judicial settlement.

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sweetygal21


Arresto Menor
Good day po.I bought a land few years ago on my mother's name . my mother died 2 years ago, so our lawyer advice us to sign an extra judicial settlement .My father is still alive. We are five siblings, i still have 2 sisters below 18 years old. i wanted to have the title transfer on my name because i dont want to have problems in the future if i wanted to build a house on the said property. a lawyer advice us to wait some years until my underage sisters reach 18 before we can transfer the title on my name. I want to ask why cant i just buy the property and have it transfer on my name? or can my father have a deed of donation and Will and testament at the same time? i dont want to have problems with inheritance tax later. the said property has a value of one million and market value of 1,3 million. i just really want to buy the property so i can build my house soon. please advice.

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Was the title transferred already in favor of your father and siblings(including you, since you are also an heir to your mother's estate)?

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sweetygal21


Arresto Menor
yes, it is transferred right after my mothers death.the attorney said that extra judicial settlement would be done for formalities , so i signed it with my foreign name (im married to a norwegian for ten years and living here in norway and have to children) and so as my 2 other siblings which are in a legal age. im planning to build a house on this property soon , is it ok to have building permit o my name or it will just complicate the problem later. me and my husband really just want to buy the property from my father i really dont understand why it is impossible for me to do this according to the lawyers we consulted.

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It could be that your citizenship is the issue. Have acquired the citizenship of your husband? As far as I know marriage to a foreigner is not a ground for losing your filipino citizenship unless you took steps to acquire your husband's citizenship.

I suggest you have the title of the property tranferred in your name first before making any pplans of erecting any house/building on the said land. Just talk to your father and siblings. I also believe that your siblings has the capacity to transfer the property to you since your father will be the one signing for them in his capacity as the legal guardian of your minor siblings.

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sweetygal21


Arresto Menor
i dont think the citizenship is the issue . the main reason that they cannot transfer it on my name is because of my 2 sisters who are underage, thats what ive been told . how can my father transfer the title on my name? do we have to have a deed of sale? or can he just transfer it to my name if he wishes to and that we just need to have the deed of transfer? what requirements do we need to do this? where should we go to? Do we need a lawyer to do this? thnx for the reply i really apreciate this.

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sweetygal21


Arresto Menor
This is a letter from an attorney we know, advicing us to have Trust Agreement.

I met ur father yesterday and our practical legal advice to him in accordance with law is to make a TRUST AGREEMENT stating that ur father holds ur property in trust and that u r the owner of it. We cant make a deed of sale nor a deed of donation in favor of u coz when ur mother died there was an extrajudicial settlement of estate that was made and it was not yet individually titled,moreover, u have two minor siblings in which ur father has to get an authority from the court to make him as guardian ad litem.resorting to the said options is tedious and impractical.in short magbuhat sa ta TRUST AGRREEMENT amoa ipadala dha, then sign it then send it back here, thereafter when ur two minor siblings reaches legal age, ur father who holds ur property in trust will now execute the appropriate document making u as the ABSOLUTE TITLE OWNER.

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attyLLL


moderator
as a co-owner of the property, you can use it and build your home. the title though will remain to be in the name of the current registered owners but you can have the improvement tax declared only in your own name.

you can leave the title as is for now. or you can purchase your father's share now, but it is correct that your sisters have to act through a guardian of legal age. do you believe there is a real risk if you have co-owners of the property? (the answer depends on your relationships with your father and siblings). once your sisters reach 18, you can then transfer the property to just you.

one issue you may face though is the application of building permit because it requires consent of the owners, but I believe a little convincing can get you through this possible hurdle.

if you believe there is risk in keeping the property co-owned, then I recommend that you go by the book and have your father file a bond to be the guardian so it can be properly sold to you. this trust agreement, if there is risk, is not the path I would take.


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sweetygal21


Arresto Menor
Do my father need to go to court to file a bond to be the guardian?do you know how much will this cost him? and how long? if he sells the property to me what taxes shall i pay ?if my father write a will and testament do i need to pay inheritance tax for this later on? and how much? i have a very good relationship with my father and siblings so if filing a bond will cost us a lot plus the deed of sale n evrything i think i would rather have the trust agreement.pls advice. thank you very much..

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attyLLL


moderator
to my mind, the trust agreement is not necessary because you can act under your own name. your father should hold your sisters' properties in trust, not yours.

if he sells, the taxes will be about 8++% of the value of his share of the property. if through a will, note that you will have to probate that will in court. i recommend you deal with this while he is alive.


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10 Transfer of Land Property on Sat Sep 25, 2010 12:07 pm

soy_taxista


Arresto Menor
Hello! I really hope I can get information from this forum. My mother died in 2007 and my father who is still alive, wants to DONATE the land to me. (it is registered under my mom's name and my dad's name.)I went to the UP College of LAW and I was advised that all I need to do is to go to CITY HALL or MUNICIPALITY OF ANGONO RIZAL. UP College of Law (representative) whom I wasnt able to get the name told me that NO extrajudicial settlement must be done. (I got this extrajudicial term/idea from a Pag-ibig Housing representative (over the phone when I called them) I was told by the U.P College of Law rep that I should only go to the municipality of Angono to have it transfered. I went there and I was told I would need to have this extrajudicial settlement (same as what pag-ibig rep said). My father has no qualms about giving it to me. In fact, it was his idea. He said he would give it to me as a donation. He wanted me to build a house there (using the Pag-ibig loan under my name). I wish I could meet someone who could help me answer all my questions or I could get some accurate information about the things that I have to undergo/process. (my youngest brother is 26 years old (i read about the below 18 years old below forum.) Look forward to your feedback. Thank you so much.

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attyLLL


moderator
you have to settle the estate of your mother first. the extrajudicial settlement is the best way to do it. good luck.


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