Deed of Sale, Registration Process

-
Image
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
Post a Comment

Name Discrepancy on the Title

-

 Magandang Umaga Po♥️


This is to continue my blog entitled "AFFIDAVIT OF ONE AND SAME PERSON"




What's the issue?

As I said in my previous blog, I was working on a sale and partition of  residential apartments. When the eCARs were released from BIR, I proceeded to the next step, payment of transfer tax, then have them registered for change of ownership and partition,  at the Registry of Deeds.

I submitted all documents required by Registry of Deeds, however, I forgot to tell the examiner that there was a discrepancy in the name on the title vs the owner's true/legal name. The examiner overlooked the matter as well. She was able to find the discrepancy,  only at the time,  when she started reviewing our documents.

Suggested solution


The examiner texted me, advising that I should submit an "Affidavit of One and Same Person". It is necessary so that the change of ownership due to SALE can be effected. For your reference, I provided the template for this "AFFIDAVIT OF ONE AND SAME PERSON" on my earlier blog, with the same title.


Change of ownership perfected


With the "AFFIDAVIT OF ONE AND SAME PERSON", Registry of Deeds was able to transfer title's name from the Seller to the Buyers. However, since this is a partition transaction, where one apartment unit was not subject to sell, the remaining property which was not sold, will still reflect the name of the owner which has discrepancy on the title.

The "AFFIDAVIT OF ONE AND SAME PERSON" will just give Registry of Deeds authorization to transfer ownership as per sale documents presented. It will not correct the name discrepancy for the remaining unsold lot/apartment unit.


What to do if you want to correct the name discrepancy


It needs court proceedings, so you need to get the services of a lawyer. That makes the process costly and will take longer time to finish.


Advise from examiner


The best that could be done, considering it's costly opting for the court proceedings,  is to execute the document "AFFIDAVIT OF ONE AND SAME PERSON", submit it to the Registry of Deeds for entry to their books/records. There is a fee for the entry, I'm not sure how much, but was advised, it's around P1,000.00. The document will be attached to your file, so that in case you will sell the property, Registry of Deeds will effect the change of ownership due to Sell. The "AFFIDAVIT OF ONE AND SAME PERSON" will vouch that you and the person in the title with name discrepancy is one and same person.


THAT'S IT GUYS😁😉 THIS WILL BE ALL FOR NOW💚♥️ Hope this is useful to you!


Thank you,

Pamanafromancestors♥️





Comments

Post a Comment

Popular posts from this blog

Partition of Lot with Residential Apartments

-
Image
Hello everyone!💚💖 Here we are again to tackle another real estate topic,  which is worth knowing. Knowledge of this would be very helpful, more if you are thinking of going into the build and sell business. Usually, a simple build and sell business starts with buying a lot, then constructing residential houses, may be a duplex, apartment units, or townhouses. Cases like this involve, buying a lot, partitioning it and the construction of houses, may it be for residential or commercial purposes.  The steps to undergo Assuming you have already the lot and have already constructed a three door apartment units on it, and you decided to sell the units to different persons. Since, you need to transfer ownership to your individual buyers once they have fully paid the total contract price, it's important to have the lot segregated into three portions. Three resulting lots and of course, an alley will also be included in the apportioning, as right of way is very much needed. Steps necessar
Read more

DEED OF ABSOLUTE SALE

-
Image
Greetings! Good morning friends all over the world! Hope everyone is safe and fine 😁. Deed of Absolute Sale Today, I would share my experiences on the processing of title ownership thru sale. When a buyer and a seller agree to complete a sale, there is now a need to execute a Deed of Absolute Sale.  Deed of Absolute Sale template attach for your reference, just click the link below to view: Deed of Sale However, don't forget to check the authenticity of the property being sold, if it is really existing and if the seller really is the real owner and if there are any encumbrances on the title. How are we going to do that? Authenticity check Request the following documents related to the property: 1. Certified true copy of title You can get this from any computerized Register of Deeds branch near you. This will spare you of travel inconvenience in case the Register of Deeds branch where your property is located is far from you/your residence. Remember to check if there is any lien
Read more

Part 1- Extra Judicial Settlement of Estate

-
Image
 Legacy from ancestors Happy day to everyone! My name is Anchi, a mother to a lovable daughter and sweet furbabies.  Welcome to my first blog😁. These days, I am assigned to work on a legacy from ancestors. I decided to chronicle and share my experiences while working on this. Please follow me,  as I go through the process, you may be able to find helpful information. Extra Judicial Settlement of Estate There is no will and testament, so the legacy would be via the Extra Judicial Settlement of Estate. Quite complicated, but there's no other way to go. After a thorough search and help from knowledgeable family members, I came up with the "Extra Judicial Settlement of Estate" template. I will attach the form in this blog for reference. There may be people, like me,  who are also into it or will be undergoing the process. After the form has been signed, we proceeded to have it notarized by a Notary Public. The fee was just minimal because it was not that big,  a property an
Read more