1 Phil property on Wed Aug 05, 2015 4:10 am
2 Re: Phil property on Wed Aug 05, 2015 2:04 pm
In sale of real property, you must ensure that there is an Absolute Deed of Sale prepared by a lawyer (for the necessary contents thereof), ensure that all the taxes have been paid (both in the city hall and in the BIR), title of the property, and the SPA itself.
3 Re: Phil property on Thu Aug 06, 2015 4:03 am
It is "power of attorney" with me as Atty-in-fact, was executed and authenticated by Phil Consulate here in L.A.
DO we need to execute an Extra Judicial Settlement?
Does the POA expire should my mother pass away?
What happens if one of the children is opposed to the sale of the property at this time?
Thanks for all your help.
4 Re: Phil property on Wed Sep 02, 2015 2:32 am
"DO we need to execute an Extra Judicial Settlement?"
Yes since your father is already deceased. If you settled the property to sell it, then Extra Judicial Settlement with Sale is appropriate, or ..with Waiver, whichever is applicable.
"Does the POA expire should my mother pass away?"
I think if it is stated in the SPA or POA that it is irrevocable until the power and authorities granted are accomplished. Better ask a lawyer on this.
"What happens if one of the children is opposed to the sale of the property at this time?"
If one opposed, then the ExtraJudicial Settlement cannot be executed! Whatever those who opposed to sell the property, then whatever is wanted to agree should be indicated on the settlement agreement. For example in our case, we are 8 siblings, we conferred first what everyone wants--sell, subdivide or lease/rent the property, two do not want to sell their portion and wanted titled in their name while another sibling waived his right donating it to another sibling who already wanted to title his portion leaving him with 2 portions (his and donated portion), we indicated all these on the settlement agreement including who will handle the expenses, and to materialize these, we had the property subdivided into 8 lots. The other 4 siblings agreed to sell their portions with agreement that these 4 lots are connecting together to be able to sell them at a higher price.
NOTE: I am not a lawyer but just an ordinary person trying to share my opinion, knowledge and experience that maybe of help to you.... Ladie
5 Re: Phil property Today at 10:12 pm
Permissions in this forum:
You cannot reply to topics in this forum