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Showing posts from June, 2021

Deed of Sale, Registration Process

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Seller sells and Buyer buys according to the terms and conditions they agreed upon‼️ This is the whole process NOTES: Buyer and Seller should provide government IDs A SPECIAL POWER OF ATTORNEY is needed if one or the parties to the transaction are not available to sign the documents personally. *********************************************       THE PROCESS and... Private/Government agencies to work to: 1. Notary Public-  Preparation and notarization of the Deed of Sale, after both parties have signed. 2. Registry of Deeds-  Get certified copy of the title of the property subject of sale. 3. Assessors Office-   Get certified copy of tax declaration for the lot and the improvement, if any. Get certificate of no improvement if there's no building or any improvement on the lot. 4. Treasurer's Office- in the municipality or city where the land is located-  Get tax clearance for the land and improvement, if any. 5. Bureau of Internal Revenue (BIR)-  All the documents you gathered fr

Part 4- Extra Judicial Settlement of Estate

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Hi again! Good day to all of you.  Hope everyone is in the best of health and everything is fine❤️. This is the 4th part of the Extra Judicial Settlement of Estate that I am currently working on.  Today, I would share the details when I presented the documents to the BIR ONETT team for evaluation and tax computation. Word/point to know- Decedent - the one who passed away and giving on the pamana via the Extra Judicial Settlement of Estate. Estate Tax Amnesty is extended for another 2 years or up to June 14, 2023, per information from BIR. Current news also stated that Senate has approved Senate Bill No. 2208 which sought to amend RA No. 11213 or the Tax Amnesty Act by extending the application period to June 14, 2023. Update as of June 30, 2021: President  Duterte signed Republic Act No. 11569, extending the June 14 deadline for applications of estate tax amnesty until June 14, 2023 . Documents review by ONETT-  Transacting with BIR may require a lot of time and long lines, make sure