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Showing posts from October, 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
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Part 5 - DAR CLEARANCE- Extra Judicial Settlement of Estate

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Greetings ! It's been quite sometime since my last update on Part 4 - Extra Judicial Settlement of Estate. This Part 5 is just a continuation. For your information, this Extra Judicial Settlement was for the estate of an ancestor who passed away in the 1980's, hence it was qualified to avail of the Estate Tax Amnesty which is currently ongoing up to 2023. The estate tax was computed straight 6% of the market value of the property at the time of death, without any penalty.  The estate tax was paid and all documents submitted to BIR June 2021. The eCAR was released to us end of September 2021. It took the BIR three months to process the ECAR. The pandemic was one great reason for the delay, I supposed. NEXT STEP- THE REGISTER OF DEEDS Although I'm not yet ready to submit this to the Register of Deeds,  as this is provincial and far from my location, but I need to gather all the requirements needed for the submission. For this, I was able to research in advance. In fact, I re
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