Extra Judicial Settlement of Estate

To the whole world, a pleasant day to everyone! What I would share today is about adverse claim. This happened a few years back. However, I made some research to know if there are some changes to the process we did. So far, the process is still the same as what we did before. A friend requested me to assist them with regard to some issues they encountered over a piece of inherited land. The property was not yet subdivided. It was still in the name of the original owner who already passed away. Their family was one of the heirs. One day, it came to their attention that the land was offered for sale. They were surprised because they were not informed about the plan to sell the property. And to add up, news reached them that there was already a buyer. In order to have proper guidance, we seek the advise of a lawyer. We narrated everything that happened. The lawyer suggested that they file an adverse claim over the land. What is an adverse claim? It is a formal statement in writing, made ...

Happy day!💗 Sharing to you what I have read from LRA's (Land Registration Authority) website.    LRA (Land Registration Authority) has launched "eSerbisyo Portal",  a new, easier and cheaper way of securing CTC (Certified True Copy of Title). Ways to request Certified True Copy of Title (CTC): 1. Anywhere to Anywhere (A2A) 2. eSerbisyo Portal Per LRA's announcement, the price is just the same for the "eSerbisyo Portal" with that of the  "Anywhere to Anywhere" or A2A service.   For the "Anywhere to Anywhere" A2A service, you will go to any computerized Register of Deeds Office near you  to request for a Certified True Copy of Title. That is regardless of where your real estate property is located in the Philippines. This will save you time and money because you won't need to travel far just to secure a Certified True Copy of your Title. The service is available through out the Philippines. However, there is a much better option. Now ...

 Hi again! I would like to share the experience I had late last year about buying a lot under tax declaration only. Checking on the property A very close friend of mine was offered an agricultural lot with only a tax declaration to vouch ownership. So the first step we took was to visit the property to feel if it is really worth buying. We had to consider the selling price and the "property feel", that's what I call it. Whenever I step on a property offered, I used to check for that positive feeling. And indeed, it was there, a "good buy", I supposed. Yes, the property was nice and the price was very reasonable. Therefore, yes for the first step! Checking with Assessor's Office We were excited to move forward to the second step, checking on the documents of the lot with the assessor's office where the property was situated. First, we checked on the tax declaration, the name of the seller and the lot area of the land offered were correct. For the taxes, ...

SEPT. 26, 2022 UPDATE: JUST A PIECE OF INFORMATION: Remember to update your status in your TIN (tax identification no.) especially when you are working on transfer of ownership processes like Deed of Absolute Sale, Extra Judicial Settlement of Estate, etc.. If your TIN shows you are single but you are already married, BIR will require you to change status of your TIN to married. You need to present marriage contract to the BIR branch where you are registered, so they can change your status to married from single. Don't forget to have a photocopy of your ID and marriage contract with you, so that in case BIR will ask for a copy, you are prepared to provide. Little things, but can cause delay if we are not aware😉. God bless everyone!🙏 ______________________________ Happy Mother's Day to all mother's around the world!💐❤ A safe and happy day to everyone! Word meaning: Decedent refers to the person who passed away (whose estate you are working on). RDO (Revenue District Of...

Greetings! Hi to the whole World! Happy day everyone! Do keep yourselves safe and healthy! 💗 Today, I would share the process I did when I worked on a sale where one of the owners had already passed away. The process  I could have prepared the "Extra Judicial Settlement of Estate with Deed of Absolute Sale" in this case. However, the BIR wanted me to submit all requirements for the estate tax filing and the sale. That would include the certificate of publication per their advise. As we already know from my previous blogs that the publication of the Extra Judicial Settlement of Estate, would run once a week, for 3 consecutive weeks,  plus the additional paper works  to finalize the completion of the certificate. That would take 30 days atleast, for the publishing company to give me the "certificate of publication."   With that, there was a big possibility that I won't be able to meet the deadline for the payment of taxes for the sale, which were the capital gai...