Extra Judicial Settlement of Estate

Good day💖 Another topic which I want to share with you is about claiming a sum of money which was passed on as inheritance, from bank. VOLUNTARY OFFER TO SELL (VOS) As a real estate broker, I was able to assist a client to claim a Land Transfer Claim/Certificate of Deposit which was a proceed of the sale of a farm land. It was a "VOLUNTARY OFFER TO SELL" transaction.   Here,  the landowner opted to sell their agricultural land to the government, and mind you, for a very, very low price! Just can't imagine how the owner came up with that decision? Their ancestors, who were the original owners of the land,  may have cried a river with that decision of the heirs😭 As a real estate person who values and appreciates "Land", I was so frustrated, but then,  it was not mine to decide. THE PROCESS Since the owners, whose names are on the title, have long passed away, the government bank handling has given requirements for the heirs to comply, before they can withdraw th

 Magandang Umaga Po♥️ This is to continue my blog entitled "AFFIDAVIT OF ONE AND SAME PERSON" What's the issue? As I said in my previous blog, I was working on a sale and partition of  residential apartments. When the eCARs were released from BIR, I proceeded to the next step, payment of transfer tax, then have them registered for change of ownership and partition,  at the Registry of Deeds. I submitted all documents required by Registry of Deeds, however, I forgot to tell the examiner that there was a discrepancy in the name on the title vs the owner's true/legal name. The examiner overlooked the matter as well. She was able to find the discrepancy,  only at the time,  when she started reviewing our documents. Suggested solution The examiner texted me, advising that I should submit an "Affidavit of One and Same Person". It is necessary so that the change of ownership due to SALE can be effected. For your reference, I provided the template for this "AFF

Good day❣️ I was working on processing a housing loan with Pag ibig. When it was time for their appraiser to check in actual the subject property, he reported that lot boundaries didn't close. For that reason, the loan was disapproved.  Loan Disapproval Pag ibig sent an email advising that lot boundaries didn't close. We were instructed to submit the following: 1. Approved certified technical description of the lot; 2. Lot data computation Further, they advised to submit the above requirements 30 days from the time we were notified so that we won't pay another filing fee of P1,000.00. Our loan will also have a fresh start. Otherwise, submission of requirements beyond 30 days would mean, we will pay again another filing fee of P1,000.00. The loan will be given a fresh start. However, if we won't go ahead with the loan, we can get our documents within 60 days. After 60 days, they are free to discard them without any liability. Where to get the requirements Pag ibig needs

Magandang Araw! I am currently working on filing a housing loan with Pagibig. I have screened shot the Pagibig website above for your reference. Sharing the processes I took as I go along, might be of help in case you decide to apply one as well. But before anything else, you should be aware what are the requirements needed to file a housing loan with Pagibig. Requirements needed 1. Title to the property to be loaned, It must be in your name. If it is in your parents' name, they must give you notarized authorization. Anyway, you can have the form from the Pagibig website. If you are going to go to their website you will be given instructions;   2. Updated tax declaration of the lot. If it is for a renovation of an existing house, you will also provide the tax declaration of the house; 3. Updated tax receipt of the house and lot; 4. House plans duly signed by a licensed civil engineer/architect, sanitary/plumbing engineer and electrical engineer; 5. Updated Bill of Materials and Spe

Magandang araw po! What if you have already submitted documents for processing at the Registry of Deeds, then they realized there is a problem in the name of one of the parties to the transaction? Exactly, this happened to me while processing a Sale with Partition. The examiner noted that the Seller's middle initial is different from his provided government issued ID. Affidavit of One and Same Person They texted me, advising that they noted some discrepancy in the name. They further stated that scenarios like this requires court hearing. However, we will just try to settle this through an affidavit, Affidavit of One and Same Person. A marriage contract and birth certificate from PSA should also be attached to the affidavit to support.  For your reference, Affidavit of One and Same Person: REPUBLIC OF THE PHILIPPINES  )                                                         ) S.S.   AFFIDAVIT OF ONE AND THE SAME PERSON                 I, __________________ , of legal age,

Hello everyone!💚💖 Here we are again to tackle another real estate topic,  which is worth knowing. Knowledge of this would be very helpful, more if you are thinking of going into the build and sell business. Usually, a simple build and sell business starts with buying a lot, then constructing residential houses, may be a duplex, apartment units, or townhouses. Cases like this involve, buying a lot, partitioning it and the construction of houses, may it be for residential or commercial purposes.  The steps to undergo Assuming you have already the lot and have already constructed a three door apartment units on it, and you decided to sell the units to different persons. Since, you need to transfer ownership to your individual buyers once they have fully paid the total contract price, it's important to have the lot segregated into three portions. Three resulting lots and of course, an alley will also be included in the apportioning, as right of way is very much needed. Steps necessar