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subdividing a property from one single title

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1 subdividing a property from one single title on Mon Jun 13, 2011 9:07 pm

jumer


Arresto Menor
Good day Sir,
I have a property with a single title. Now I want to subdivide it into 4 lot so that it can be sold separately.

1) What is the procedure in separating lot?

2) Should the separated lot have their on title each under my name?

3). In case 4 title have to be created, do I need to pay for any transfer tax, capital gain... etc?

4). Can I not just sell (deed of sale) first then create a title (TCT) under the name of the buyer for every lot sold?

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TiagoMontiero


Prision Correccional
You cannot just sell the land and create 4 TCTs, you need to properly subdivide it through a Geodetic Engineer, then execute Deed of Partition using the new technical description for the subdivided lands; then register it with the Registry of Deeds, pay the necessary taxes, registration fees etc. for the New TCTs. I ADVISE YOU TO GO DIRECTLY TO THE REGISTRY OF DEEDS AS THE LEAD AGENCY OF THE GOVERNMENT AND TO PERSONALLY CONTACT A LAWYER.

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