Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Buying a House that is for extrajudicial settlement

Go down  Message [Page 1 of 1]

mereproofreader


Arresto Menor
Hello po,

So, we're looking to buy a house in Quezon City, and there's this agent who told us about a house that is for sale. The problem is that the owners are deceased and the title has yet to be transferred to the names of the heirs (if I remember it right, there are three of them). Now, they are asking for about 25% downpayment, so that they can pay whatever is needed to be paid so that they can proceed with the "extrajudicial settlement." My question is, how should we go about this and how do we protect ourselves from deception? This is our first time to buy a property, and we really do not know much about stuff like this.

I'm really hoping that you can help. Thank you very much in advance.

View user profile

xtianjames


Reclusion Perpetua
consult a lawyer who specializes with property law so he can assist you with the transaction. better to pay a few thousand than loss hundreds of thousands.

View user profile

karl704


Reclusion Temporal
Here are your options:

1.) let them settle first the extrarjudicial settlement at their expense before you buy the property.
2.) execute extrajudicial settlement of estate WITH absolute sale, then pay a portion or the entire purchase price less the expenses for the extrajudicial settlement
3.) execute a contract to sell and pay the 25% amount they are asking

Again, it would be best to hire the services of a lawyer in order to properly protect your interests

View user profile

mereproofreader


Arresto Menor
karl704 wrote:Here are your options:

1.) let them settle first the extrarjudicial settlement at their expense before you buy the property.
2.) execute extrajudicial settlement of estate WITH absolute sale, then pay a portion or the entire purchase price less the expenses for the extrajudicial settlement
3.) execute a contract to sell and pay the 25% amount they are asking

Again, it would be best to hire the services of a lawyer in order to properly protect your interests


Thank you for your advice, sir! I appreciate it.

View user profile

mereproofreader


Arresto Menor
xtianjames wrote:consult a lawyer who specializes with property law so he can assist you with the transaction. better to pay a few thousand than loss hundreds of thousands.

Thanks po.

View user profile

mereproofreader


Arresto Menor
Any idea how much the real estate property lawyer would be?

View user profile

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum