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TRANSFER OF TITLE

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1 TRANSFER OF TITLE on Sat Sep 23, 2017 9:02 pm

ghostsmile


Arresto Menor
HI
MY SCENARIO: I BOUGHT A HOUSE, PAID 30% TO THE DEVELOPER. BUT NOW IM NO LONGER INTERESTED IN THE HOUSE AND PLANS TO SELL IT TO A FRIEND. HE WILL PAY THE 30% TO ME THEN ASSUME THE 70% BALANCE. MY QUESTION IS CAN I JUST TELL THE DEVELOPER THAT MY FRIEND WILL PAY THE 70% AND PUT THE HOUSE UNDER MY FRIENDS NAME. SINCE HE WILL BE THE NEW BUYER?

* I HAVENT SIGNED A "CONTRACT TO SELL" YET. ONLY PAPER I HAVE SIGNED IS "RESERVATION AGREEMENT".

SO IS IT LEGAL TO PUT MY FRIENDS NAME? SINCE HE WILL BE THE ONE TO BUY THE HOUSE? OR I AM OBLIGED TO BUY THE HOUSE UNDER MY NAME THEN SELL IT TO MY FRIEND WITH A DEED OF SALE?

IT WILL COST US MORE BECAUSE OF THE TAXES AND TRANSFER FEES...

THANKS IN ADVANCE.

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2 Re: TRANSFER OF TITLE on Mon Sep 25, 2017 9:57 pm

betchay001


Reclusion Perpetua
In some cases buyers may opt to transfer their right to the property to a new buyer. Kindly talk to the developer first.

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