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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ESTATE TAX AMNESTY EXTENDED

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 Magandang Araw❣️



Bill on Estate Tax Amnesty Extension  lapsed into law


This is a very good news! The Estate Tax Amnesty Extension lapsed into law on August 05, 2023. Meaning, it is good as approved even if the President didn't sign its approval.

When an approved bill is submitted to Malacanang for approval, the President has 30 days to sign and approve it. Since the president did not sign for its approval nor rejected it, it became a law after the 30 days period.


Republic Act (RA) No. 11956

It is now under Republic Act (RA) No. 11956, Extending the period of availment of the Estate Tax Amnesty until June 14, 2025, for another two years.  Also,  it is extending coverage of deaths up to May 31, 2022. This means, the Estate Tax Amnesty shall cover the estate of decedents who died on or before May 31, 2022.


Finally, 

This is a great help on the financial side for those who have not yet done their settlement of estates. Penalties and surcharges will not be charged under the amnesty period.

This is a good time to process settlement of estates. GOODLUCK EVERYONE!!!


Pamanafromancestors❤️

Source of information: official gazette.gov.ph



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