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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THE BIR eONETT SYSTEM

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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 site for news to support the fast eCAR release stated on my claim stub. Here is what I found, much, much better, than their previous manual system.  Here,  you can submit your documents for review online rather than going personally to BIR. If everything is alright with your documents, the System will facilitate computation of corresponding taxes. This is very helpful to avoid the long lines at BIR. They will review your submission and once approved, you will be notified to download and print the claim slip. You have to present it to the RDO together with the physical copies of the documents you submitted online. By that time, you can already claim the copy of your eCAR. It's fast and hassle free. Good job BIR!

 For detailed explanation, below is the link  to the tax payers guide regarding the BIR eONETT process. 


BIR eONETT


Hope this helps. 

Thank you and God Bless!🙏 #pamanafromancestors❤️

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