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extrajudicial settlement of estate vs. extrajudicial settlement with sale

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baby888


Arresto Menor
My father passed away in 2007 but we still do not have an extrajudicial settlement of estate. Now, we are selling one of our inherited properties. Which is a better action to take-- make an extrajudicial settlement of estate now or wait for a sale and make an extrajudicial settlement with sale? Question

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payoneer


Arresto Menor
Has your father's estate been settled as regards any other property or no settlement has been made yet? I'd say you should settle his estate first before selling.

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baby888


Arresto Menor
In 2008, we sold one property of my father. Since we did not know anything about extrajudicial settlement, the lawyer only declared the property that was being sold. The rest of my father's properties were not declared. In 2013, BIR advised us to execute a joint extrajudicial settlement for all the properties (inherited and exclusive) of our 3 deceased members. That is what we have now but has not yet been notarized because of the high notarial fees (10k-22k). They charge per title, and since we declared a total of 11 properties of our 3 deceased members, notarization costs a lot.

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