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Implication of property left without will.

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1 Implication of property left without will. on Thu Sep 17, 2015 8:55 pm

emytan


Arresto Menor
My mother is 80 years old and my father passed away 5 years ago. They did not draft a will before my father passed away and my mother is still hesitating to do so. They have properties that are still under their names. Please advise what will be the implication in case she pass away and she did not leave any legally officiated will.

One of her property is an agricultural land located in Zamboanga del Norte. At the moment she is planning to sell it. Please advise if there is Capital Gain Tax on sale of agricultural land.

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Lunkan


Reclusion Perpetua
(Asuming there are no illegimiate child too.)
A Will is needed IF the OWNER want to give DIFFERENT shares to hiers than the common shares,
or if want a specific person get a specific part.
It's only a minority part, which can be moved to an other hier anyway. How big it is max depend of hier situation, but for instance 1/4 IF wait until BOTH parents have died.

Are you trying to make your mother give different much to different children by a will? My mother is 81 and she wouldn't agree to do other than she want herself Laughing and that's giving same value to all children.

I don't know the rules about Capital Gain tax when selling, but I asume there is one as well as there are registration fees, so I asume the costs will be MORE IF transfer property in more steps than one.

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