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Annotation f TCT

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1 Annotation f TCT on Fri Dec 11, 2015 9:39 am

rjaceveda


Arresto Menor
We bought a property thru a bank loan.
In the deed of Sale , the buyers are me and my wife and our only Daughter (10 years OLD).

All Documents were transferred to our names and of course Loan were released to us.

After almost 1.5 Years of paying, bank called my attention saying that they cannot annotate the TCT because my daughter is a minor.

But everything were declared to the bank on the first place and money was released.

What should I do? Is it banks fault but I am willing to cooperate to clear this issue.

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2 Re: Annotation f TCT on Fri Dec 11, 2015 5:21 pm

Lunkan


Reclusion Perpetua
Do the bank want to cancel the loan or what's the problem for YOU?
IF the bank REALY* can't make loan note at the TCT, I see that as THEIR problem Smile

( *I don't know, but I have some doubt their conclusion is corect. Some, who are suppoused to know, don't know things they are suppoused to know** Smile As in your case they have to be wrong at least one time. =When they gave you the loan or now.
** For instance one put to handle ads for selling properties for a big bank, had put many of the properties sorted at WRONG ISLAND ! So if interested customers make search at island, they don't find these offers... (For instance Antigue properties were placed at Cebu island, Mindanao properties at Bohol, several different province properties in Manila...)

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3 Re: Annotation f TCT on Sat Jan 02, 2016 11:15 am

betchay001


Prision Mayor
rjaceveda wrote:We bought a property thru a bank loan.
In the deed of Sale , the buyers are me and my wife and our only Daughter (10 years OLD).

All Documents were transferred to our names and of course Loan were released to us.

After almost 1.5 Years of paying, bank called my attention saying that they cannot annotate the TCT because my daughter is a minor.

But everything were declared to the bank on the first place and money was released.

What should I do? Is it banks fault but I am willing to cooperate to clear this issue.

Then ask that the transfer of registration be in you and your wife's name.  Remove the name of your daughter.

Many parents do this so that the properties will be in their children's names already.

You may donate this to your daughter when she becomes of age (paying Donor's Tax).

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4 Re: Annotation f TCT Today at 1:26 am

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