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Property under different name

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1 Property under different name on Mon Nov 14, 2016 3:16 pm

jramirez


Arresto Menor
I'll try to ask as clearly as possible. But first, a quick background.

My mother, now deceased, acquired a house and lot in 1996. But due to financial problems, she stopped paying. In 2012, we found out that we could acquire the property through National Homes (NHMFC), now opt to have it under my name (because if we still do under my mother's, she will shoulder all the penalties).

Now the complication. Same year, 2012, the property has been under loan in my brother's work/company.

We had arranged the transfer of the title to my brother's name (as a requirement for the company loan). But I pay what is being deducted from him on a monthly basis. It is our agreement that upon completion of the loan payment, I will then process the transfer to my name.

1. Though it's been VERBALLY clear, I'd like to have a document indicating the setup - that I am the intending owner of the property, it is under my brother's company loan but I am the one paying for it. My brother is married and I'd like to avoid further complications in the future ie, annulment, family problems, etc. What document is this?

2. My brother has changed home address. The address indicated in the executed Contract to Sell is different from where he is living now. I am now to submit a Consolidation of Ownership and now lost at what to put in the home address. How to legally correct the home address change?

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