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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EJS with UNILATERAL DEED OF SALE

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Magandang Araw! 


I pray and wish that 2023 would be a great year for all of us.


However, today, I would share a throwback of my activities last year. In particular, 3rd quarter of last year, I was lucky enough to be able to assist an Extra Judicial Settlement of Estate with Deed of Absolute Sale. It was not the usual Deed of Absolute Sale, it was a Unilateral Deed of Sale.


What is a UNILATERAL DEED OF SALE


It is a Deed of Sale, where only one party to the transaction is signing the document...the SELLER. Most often, this happens when one of the parties is not available to personally sign thru a bilateral contract, which is the usual Deed of Absolute Sale,  where both Buyer and Seller signed. 

In this case, the Seller is in a foreign country, so the document will be notarized and apostilled there. Or, it will be thru the Philippine Consulate in that country.


EXTRA JUDICIAL SETTLEMENT OF ESTATE


Since one of the owners (whose names were on the title), the husband, had passed away, there's a need to file the estate tax to pass on the ownership to the heirs. This was done by executing the Extra Judicial Settlement of Estate. However, only half of the property was subject to estate tax, as the remaining half was the share of the wife who is still living. 

The share of the husband who passed away will be divided between the daughter and the wife,  equally. They are the legitimate heirs. 


THE PROCESS 


In this case.  the Sellers  were out of the country, and didn't want to execute a Special Power of Attorney, authorizing a trusted person to sign the Deed of Absolute Sale in their  behalf.  So the option here was for the SELLER  to execute an Extra Judicial Settlement of Estate with Unilateral Deed of Sale. It is only the SELLERS who will sign the document plus two witnesses.

Since everything in the transaction was agreed by both Buyer and Sellers, after the Sellers signed the document, it was presented to the Philippine Consul for the acknowledgment and notarization.

Link to the template for your reference:






Then, the SELLER sent the document here in the Philippines for processing of the estate tax filing and the sale transaction.

For the estate tax filing via the  Extra Judicial Settlement of Estate, just please refer to my previous blog since the requirements and process are there and they are just the same.
Please refer to the link below:






As to the processing of the Unilateral Deed of Sale, it's just the same as the usual Deed of Absolute Sale process.  For your reference, here is the link to my blog on Deed of Absolute Sale:






This is all for now. For questions or clarifications, you can send a private message on my fb page, Pamanafromancestors. Hope you can follow me here,  as well as on my fb page, pamanafromancestors.


Thank you and God Bless!


Pamanafromancestors❤️


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