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Property from wife parents.

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1 Property from wife parents. on Mon Feb 07, 2011 11:29 am

kramsa


Arresto Menor
Good day to everyone need advice po here's the situation;
My wife's parents passed away few years back and wala po iniwan na last willing testament para sa mga anak nila, 6 po silang magkakapatid including my wife, yung 5 po they decided na ibenta sa aming mag asawa yung property kaso yung titulo po ng lupa is nakapangalan pa po sa parents nila,Payag naman po kaming bilhin kesa sa iba pa mapunta ang problema po ay kung paano namin mapapatransfer yung name na nasa title and paano magkakaroon ng deed of sale kung pumanaw na po yung parents nila, sabi po nung mga hipag at bayaw ko is pipirma na lng daw po sila dun sa deed of sale pwede po ba yung ganun? Thank you in advance po sa mga mag bibigay ng advice. God bless.

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2 Re: Property from wife parents. on Mon Feb 07, 2011 1:13 pm

ESQUIRE


Arresto Menor
Simple.. Execute an "Extrajudicial Settlement of estate with deed of absolute sale".

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3 Re: Property from wife parents. on Mon Feb 07, 2011 1:16 pm

ESQUIRE


Arresto Menor
You cannot execute directly a Deed of sale kasi nga deceased na ang registered owners...It would be a problem then when you decide to transfer that prperty to your name...

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4 Re: Property from wife parents. on Mon Feb 07, 2011 2:05 pm

kramsa


Arresto Menor
Thank you po sa reply mga bossing, Mabilis lang po yung extrajudicial settlement of estate? kasi po medyo rush po yung gusto nilang mangyari sa pag bili namin ng property, how do we exactly start to do that sir? frankly speaking po kasi first time lang po kami bibili ng property and really appreciate kung may magtuturo po how to initiate that, what about po yung mga cost nang gagastusin? will that be very costly po?

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5 Re: Property from wife parents. on Mon Feb 07, 2011 2:11 pm

ESQUIRE


Arresto Menor

I am a lawyer based here in Cebu. I suggest that you refer to a lawyer in your locality and asked them to draft and notarize an extrajudicial settlement with deed of sale.It would take siguro a few hours to draft it...

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6 Re: Property from wife parents. on Mon Feb 07, 2011 3:01 pm

kramsa


Arresto Menor
Attorney thanks for your reply and patience, once I have done that do we need to pay inheritance tax ? aside from Capital gain tax? kasi po nag agree po kami na I will shoulder po yung capital gain tax, so now thinking kung may babayaran pa po kami na inheritance tax.

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7 Re: Property from wife parents. on Tue Feb 08, 2011 11:08 am

ESQUIRE


Arresto Menor
Yup, may transfer taxes and capital gains tax kang babayaran....

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8 Re: Property from wife parents. on Wed Feb 16, 2011 3:46 pm

kramsa


Arresto Menor
ESQUIRE wrote:Simple.. Execute an "Extrajudicial Settlement of estate with deed of absolute sale".

Hi po mga boss, amo, sir, manager, attorneys...

please advice and share po procedures and step by step guidelines on how to execute Extra - Judicial settlement of estate with Deed of absolute sale.... I have already downloaded a draft on this para no notaryohan nalang ng attorney ok lang po ba yun..and ano po ang next step after po panotariohan?...advice po again please...thank you very much mga bossing.

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9 Re: Property from wife parents. on Wed Feb 16, 2011 4:39 pm

ESQUIRE


Arresto Menor
I strongly suggest that you better let the lawyer draft the document. Don't self-medicate the legal problem in order to prevent further problems. Karamihan kasi pag kayo2x lang ang gumawa, magkakaproblema sa technical description ng lupa,etc. That is not an ordinary document, so u better engage a lawyer to do it.

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10 Re: Property from wife parents. on Wed Feb 16, 2011 4:57 pm

kramsa


Arresto Menor
ESQUIRE wrote:I strongly suggest that you better let the lawyer draft the document. Don't self-medicate the legal problem in order to prevent further problems. Karamihan kasi pag kayo2x lang ang gumawa, magkakaproblema sa technical description ng lupa,etc. That is not an ordinary document, so u better engage a lawyer to do it.

Yes sir well noted po I'll do that as per adviced Surprised after that sir what will be the next step?

Pasensya na po, currently naka based po kami oversease and kailangan i spoon feed yung taong kikilos...

thank you po ulit sir sana po wag kayo mag sawa sa pag sagot sa mga querries ko.

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11 Re: Property from wife parents. on Wed Feb 16, 2011 7:23 pm

ESQUIRE


Arresto Menor
Go to BIR and pay the transfer tax and capital gain tax and documentary stamp tax. After that, a Certificate Authorising Registration (CAR) will be issued. Punta ka ng Register of Deeds at ipa transfer mo na. Thats it

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12 Re: Property from wife parents. on Thu Feb 17, 2011 8:46 am

kramsa


Arresto Menor
good morning, thank you po sa guidance sir, boss, amo, manager, attorney...you are very helpful Very Happy

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