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RECOMMENDATIONS on Acquisition of Land with Rights only [No Title]

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Manny0521


Arresto Menor
Dear Atty./Sir,

Please give us advise on acquiring a land by rights with no title yet.
1) Is it okay to buy a land with no title but with rights only?
2) If yes, what are the things we need to check and need to obtain (e.g documents) for us to acquire the land legally?

Kindly advise. Maraming maraming salamat po.

Regards,
Manny

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Lunkan


Reclusion Perpetua
1. It's risky because you risk other hiers from generations back come and claim the property. If so that would include the buildings at the land (if there are no Lease contract).

2. Has the seller had it in family and paid property tax for it at least 10 years?
If Yes, they can apply to get the title, and you can put that as a condition for you buying it. =Put that at a "CONDITIONAL Deed of Sales" (if I remember the name corect.)
I recomend too you get document signed by all other known hiers telling that they agree. (I have forgot what the document is called.)

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Manny0521


Arresto Menor
Lunkan wrote:1. It's risky because you risk other hiers from generations back come and claim the property. If so that would include the buildings at the land (if there are no Lease contract).

2. Has the seller had it in family and paid property tax for it at least 10 years?
If Yes, they can apply to get the title, and you can put that as a condition for you buying it.  =Put that at a "CONDITIONAL Deed of Sales"  (if I remember the name corect.)
I recomend too you get document signed by all other known hiers telling that they agree. (I have forgot what the document is called.)

Thank you Sir Lunkan. lahat ng naka usap ko. Risky talaga. Salamat talaga.

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Lunkan


Reclusion Perpetua
Since I wrote that, I read it's possible to get it titled by the new owner too,
BUT it was written in an info site for a BROKER, perhaps they want to make buyers believe it's no problem Smile

=I don't know if such possibility is added after the law I talked about.

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