Pag ibig Loan Filing Part 2

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A screen shot of the ongoing renovation GOOD MORNING❤️ To continue, I've told you in my previous blog that Pag ibig told us to submit additional requirements because upon checking, our lot didn't close, the boundaries.  Additional Requirements Required from us: 1. lot data computation 2. certified technical description   We can get these from DENR REGION 4A since we are from Rizal. The process is, get Lot Data Computation and Approved plan from DENR LOS BANOS. Bring them to DENR CALAMBA so you can request for a Certified Technical Description of the lot. So, March 4, 2024, we submitted our request for lot data computation and approved plan from DENR LOS BANOS. We were told, the line was long so our schedule to pick them up was March 19, 2024. We let one day passed, to make sure, the documents are available.  March 20, 2024, we came to get the Lot Data Computation and the approved plan. The fee was ₱50 per document, ₱100 if you want it certified. DENR CALAMBA From DENR LOS...
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Deed of Sale of Unsegregated Portion of Land

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Contents:

The process we did

Deed of Sale part of the process:

The title process with the Registry of Deeds

Magandang araw!

Another real estate process I encountered was the sale of unsegregated portion of land. A portion only was bought by the buyer and the owner of the land agreed to the offer of the buyer to buy just a portion of the lot. There was meeting of the minds since both parties agreed, hence the sale transaction was perfected.

The process we did:

We hired a licensed geodetic engineer to survey, relocate and subdivide the lot. The goal was to cut a portion from the mother titled lot, and there will be two resulting lots, the portion subject of this sale and the remaining lot which will remain under the original owner's name. The fee was per resulting lot, which was P10,000.00 per resulting lot at that time or P20,000.00. That included survey, relocation, subdivision into two resulting lots and approval with the Bureau of Lands, now, Land Management Bureau. At that time the turn around time given to us was 45 working days for the approved plan to get released from Bureau of Lands.

After a little more than two months, the approved plan was released. The geodetic engineer gave us the following:

1. Approved subdivision plan showing two resulting lots

2. Technical description of each lot

3.  Original drawing of the subdivision plan in tracing paper

On the site, relocation land marks or "mohon" were put to mark land boundaries.

Deed of Sale part of the process:

While we waited for the approval of the plan from the Bureau of Lands (Land Management Bureau), we processed the Deed of Sale of Unsegregated Portion of Land with the BIR (Bureau of Internal Revenue) to pay required government taxes like the documentary stamp tax and the capital gain tax. Then we waited for the CAR (certificate of registration) to be released, as this is a requirement for the transfer of title with the Registry of Deeds.
I won't be explaining the detailed Deed of Sale process since I have also a blog on that, which you can search here on my site, for your reference.

The CAR (certificate of registration) was released after more than two months also. Then we proceeded to the Registry of Deeds with the documents we got from Bureau of Lands and Bureau of Internal Revenue (BIR).

Please pay first the transfer tax at the treasurer's office in the municipal or city hall where the lot is located prior to proceeding to the Registry of Deeds. Just present all the documents released from BIR, that's their requirement, as basis in computing the transfer tax.

The title process with the Registry of Deeds:

When at the Registry of Deeds, we were required to submit a Deed of Partition to be submitted together with the Deed of Sale of Unsegregated Portion of Land. So, we prepared a Deed of Partition, stating how the mother title will be subdivided. 

I have also a blog here on my site about Deed of Partition, you may refer to that blog for detailed information on Deed of Partition.

So, with the approved plans and other documents from Bureau of Lands, the CAR and other documents from BIR and the notarized Deed of Partition, we were able to register and transfer title to the new owner of the portion sold, while the remaining lot area was still in the name of the seller/original owner.  The two titles were released to us, after almost two months after submission of complete documents.

For your reference, I am sharing the template I used for the Deed of Sale of Unsegregated Portion of Land:


Sale Unsegregated portion


Finally, I hope I am able to share useful information.

Have a great day everyone!❤️

GOD BLESS! 🙏

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