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Deed of donation or deed of sale?

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1 Deed of donation or deed of sale? on Sat Dec 24, 2011 12:21 pm

phoenixjaz


Arresto Menor
my mother, uncle and aunt is co-owner of one property, they want to sell the property to me but i dont have money to pay them immediately, which one of the requirement of BIR is i have to show them the reciept of payment from the seller. so we prepered a deed of donation instead and have a side contract which is deed of sale in which i will pay them after the title transfered to me and loan the payment from a bank.

that was advise to me by a certain laywer. deed of donation will incur us small tax compared to deed of sale but donating the said property is the only way I could have the property on my own name.. is it okey po ba? If ever matuloy ang deed of donation, would there be a case na pwede bawiin sakin ang donated property ng mga anak ng uncle and aunt ko though binayaran ko sila because of the side contract na deed of sale?
please help me kasi confused nap o ako

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2 Re: Deed of donation or deed of sale? on Thu Dec 29, 2011 8:48 am

attyLLL


moderator
actually, donation will have higher taxes, and you are committing falsification.

why not just make a contract to sell that you are buying the property but will pay in installments. transfer of the property will occur only final payment.


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3 Re: Deed of donation or deed of sale? on Fri Dec 30, 2011 12:55 am

phoenixjaz


Arresto Menor
i dont have money to pay them right away in installment or in full.. the plan is to transfer the title to me first then once transferred i will loan it to a certain lending institution to pay them... pano po kaya?

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4 Re: Deed of donation or deed of sale? on Fri Dec 30, 2011 1:09 pm

attyLLL


moderator
then go to the lending institution and explain. once they issue a letter guarantee, you can execute deed of sale.


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5 Re: Deed of donation or deed of sale? on Mon Jan 02, 2012 9:55 pm

phoenixjaz


Arresto Menor
tnx.. how about if i would have a loan from an individual but the individual wants the title under my name? what shall i do?

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