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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WAYS TO SETTLE AN ESTATE

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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 onward, estate tax computation would be based on TRAIN LAW.

Affidavit of Self-Adjudication

It is to be used when there is only one sole heir, there is no debt left behind. The sole heir will execute an affidavit,  adjudicating the whole estate to himself/herself.

Judicial Settlement of Estate

However, when heirs do not agree on how the estate will be settled, the Judicial Settlement is the  option to use. This needs court proceedings, hence services of a lawyer is needed. This option takes longer to process and costly.


Finally, it would be very convenient if relationships with co-heirs are harmonious and pleasant. This way, it would be easy to come into agreement on how the estate will be divided among heirs. 


Thank you and God bless!


Please follow or comment below.  You can also reach me at my facebook  page,
Pamanafromancestors or email at anchiebalita@gmail.com.

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