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For Sale CCT not yet transferred to the name of seller

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LoloEmbang


Arresto Menor
Hi to all the attorneys here!

I am selling my condominium unit purchased and fully paid from a developer more than 6 years ago but I still have not transferred the CCT to my name.

I have the 4 copies of the DOS and all the document needed fopr the transfer including the original owner's copy of the CCT.

In case I find a buyer, here are my questions:

1. Should I first transfer the property to my name before transfering it to my buyers name?

2. If yes, how will the payment of taxes be distributed?

3. Can I just ask the developer to sign a new DOS between them and my buyer so that there will only be one transaction of sale and the registrarion will be easier?

Please advise,on the right procedure that I should do in case the sale pushes through.

Thanks you in advance. And thank you for having this website of lawyers giving free advise.



Last edited by LoloEmbang on Fri Jul 28, 2017 10:34 pm; edited 1 time in total (Reason for editing : just removed but in the title.)

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betchay001


Reclusion Perpetua
If the developer agrees to change the name on the DOAS, then it would save some time. Also, the creditable withholding tax to be paid is at 5% (or 1.5% or 3% depending on the selling price).

Ask the developer first.


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