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extrajudicial settlement

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1 extrajudicial settlement on Mon Jan 09, 2012 11:03 am


Arresto Menor
my father left behind a land registered in his name married to my mother, we want to divide the property to six equal share, us five siblings and my mother, all of us have agreed to this, can we execute an extra judicial settlement with this idea?what taxes do we have to pay?Donors tax?

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2 Re: extrajudicial settlement on Sat Jan 14, 2012 9:26 pm


is your father dead? how was the property acquired?

if it was purchased during the marriage, then your mother owns half by her own right. the other half which is your father's share, you can divide by 6 as you planned.

the tax to be paid is estate tax. you should have it computed by the bir.

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3 Re: extrajudicial settlement on Sun Jan 15, 2012 5:15 pm


Arresto Menor
thank you for your reply,

yes my father is dead, he inherited the property from my grandparents when he was still alive, so does my mother have the right to own the half, or can we divide the whole property in 6 equal shares

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4 Re: extrajudicial settlement on Sun Jan 15, 2012 5:24 pm


Arresto Menor
btw, my mother have consented or have agreed to this kind of partition,i just want to know if an extrajudicial settlement is enough to execute this agreement,or do we have to execute another document with respect to my mother owning half of the property if ever,tnxs

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5 Re: extrajudicial settlement on Wed Jan 18, 2012 1:27 pm


Arresto Menor
gud day po! We are at the same situation with annajoey, we are 6 children in the family, our father died 1987 and our mother is still alive. We all decided including my mother to divide the lot to 6 parts. If we will pay the estate tax thru extrajudicial settlement, will we be penalize since my father died 25 years ago?

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6 Re: extrajudicial settlement Today at 7:30 am

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