Extra Judicial Settlement of Estate

LRA On-line Tracking System (LOTS) This is a very good project of the LRA. Here, we are able to track the status of our transaction with any branches of the Registry of Deeds through out the country via online. This will eliminate the hassle of calling or going to their office personally to follow up a transaction. We can do the follow up at our own pace because it is through online. This is very favorable to avoid the traffic and transportation expenses when doing personal follow up. Link to the LRA On-line Tracking System (LOTS) https://lots.lra.gov.ph/TransactionStatus / Checking if it's working I tried checking it myself to determine if it is working. I used my previous request for a certified true copy of title, and yes up to this time it us working.  You just need to select your kind of transaction, then location of the Registry of Deeds where you have a transaction, then finally, input your EPEB No. This is from your official receipt issued by the Registry of Deeds when you

There are three ways to settle an estate here in the Philippines. They are via the Extra Judicial Settlement, the Affidavit of Self-Adjudication, or through the Judicial Settlement of Estate. Extra Judicial Settlement of Estate It is the option to use when the following scenarios are present: 1. There is no last will and testament left by the decedent (owner of the estate who passed away) 2. There are several heirs and they agree to the division agreement. 3. There is  no debt left behind or has been fully paid. For those who want to settle their estate via the Extra Judicial Settlement, please be advised that the ongoing Estate Tax Amnesty will be expiring on June 14, 2023. The amnesty is applicable for those who passed year 2017 below.  It would be a great help because you won't be required to pay interest and surcharges. Estate tax under the amnesty would be computed straight 6% of the market value of the estate at the time of death of the owner.  For those who passed 2018 onwar

Contents: Filing TIN of the Estate  Transfer of RDO- BIR form 1905 TIN of the Estate - BIR Form 1904   When we are filing for an Estate Tax, aside from the many requirements that we need to submit, filing a TIN of the Estate is also a must to do. We will be using the TIN of the Estate in paying the Estate tax. It will be applied using BIR form 1904. Filing TIN of the Estate  Lately, we were able to process an Extra Judicial Settlement of Estate. I was one of the Attorneys-in-Fact. The place of residence of the decedent (the one who passed away), was NCR. When we were in the process of applying TIN for the Estate, the BIR staff noted that the TIN of the decedent, when he was still living, was from another BIR RDO branch. The RDO advised that we need first to have the TIN of the decedent cancelled. The cancellation will be done by the RDO who issued his TIN when he was still living.  Transfer of RDO- BIR form 1905 We were endorsed to his RDO branch, which was also in the NCR. Once there,

Magandang araw! I've got here some really good news, for everyone. Early this week, I was processing a sale transaction with the BIR, being the Atty-in-Fact of the seller who is out of the country. Deed of Sale Requirements I will not go into details on the sale transaction requirements, since I already have a detailed blog here on that. You can just search for "Deed of Absolute Sale" blog for guidance still on this site, pamanafromancestors.blogspot.com. Documentary requirements After completing their documentary requirements and payment of taxes, which are the capital gain tax and documentary stamp tax, I submitted the documents to the receiving staff ready for the eCAR processing. Then I was given a claim stub, stating to follow up the eCAR after 3 working days from date of submission of the documents. eONETT I was amazed, finally BIR is able to come up with a system that is fast and of course reliable, I believed. Upon reaching home, I immediately searched the BIR sit