Extra Judicial Settlement of Estate

Magandang araw! 2023 Estate Tax Amnesty Today I would like to share with you some good news about the 2023 Estate Tax Amnesty which is about to expire on June 14, 2023. However, thanks God, the House of Representatives approved on third and final reading a bill extending the estate tax amnesty. It is under Republic Act (RA) No. 11213, extending two more years the estate tax amnesty, that would be up to year 2025. Speaker Ferdinand Martin G. Romualdez is the principal author of House Bill (HB) No. 7909. This would give enough time for those concerned to avail of the amnesty and lower taxes.  This is a very positive thing, as Speaker Hernandez took into consideration the financial constraints brought about by the pandemic. This is already a second extension, the first one was when it was extended to June 14, 2023. It is expected to be signed into law by the President before the second State of the Nation Address (SONA) on July 24, 2023. Thank you, Pamanafromancestors❤️ Source of info...

 Magandang araw! There is a time in our life when we are ready to purchase real estate property where our home sweet home will soon hopefully rise. We may already have enough financial resources or stability to purchase it in cash, installment or through financing. There are perks when we do the purchase on cash basis. However, as long as we have a stable job or a stable business it would be easy to apply for a lot loan or a housing loan. Purchase through cash basis Paying for the property one time, or within a span of few months, say three or six months, is still considered a purchase through cash basis. There are sellers or developers who are offering those options. It really depends on the agreement between both parties, the seller and the buyer.  There are perks when doing the sale transaction on cash basis, usually certain percentage of the sale is given as discount, making the over all price of the property lower. Purchase through installment or financing However, when w...

 Magandang araw! Last February, I was able to attend a CPD (Continuing Professional Development) seminar which was a requirement for the renewal of my real estate broker's license. The CPD was conducted by CES ACADEMY. It was done online and there  were three speakers who discussed several real estate topics. One topic was about "Due Diligence". Knowledge of this is very important for everyone,  as there is always a time that we would be into buying our first property investment, or a house and lot which would be our future home. I will be sharing what I learned from them, in the hope that this would be useful for your future real estate transactions. What is Due Diligence? It is a proper and careful research and analysis in preparation for a transaction. It is an investigative process to "let the buyer beware",  "CAVEAT EMPTOR", because ignorance excuses no one. With "Due Diligence",  we will be able to determine if there are problems and th...

 Magandang araw! It's been quite some time since my last post. Today, I will be sharing a bit of my life that happened in the past. Few days ago, I was able to view a post about someone who was stripped of her position in the company she worked for,  after returning from sick leave. I can relate and felt her pain. A scenario in the past This reminded me of a scenario in the past, many years ago. I was working in a local company for 17 years when I got pregnant, supposed to be my second child. However, I had a miscarriage,  my body gave in to emotional and physical stress. I blamed myself for what had happened. To add up, it was only my 2 year old daughter and I, as my husband had returned overseas. He was struggling with his work by that time, as well.  I took a maternity leave due to the miscarriage. But, thinking I had lots of pending works in the office, I decided to return to work after two weeks of rest. A very bad decision as it created health issues, that made...

Magandang araw! Few days ago, we renewed the registration of our car. It took us two days to finish the process. We are from Rizal and sharing this for your reference. The Process Monday, we arrived at the Land Trasportation Office (LTO) in Rizal, around 1:30pm. We were referred by the guard to the emission testing. However, no more slot was available for that day. So we got our number for the slot the following day.   Gathering all requirements, we get The Third Party Liability (TPL) insurance ready for the next day slot. The insurance amounted to ₱1,350.00 If you are a senior citizen registering your car, it's much faster because you are given priority on the line. Since I am, I was advised by the emission testing staff to just come after lunch, around 1:30pm, as the lines are longer in the morning getting lesser in the afternoon, anyway, I have already reserved a slot. I just need to make sure I will be at LTO before 2pm, otherwise, my slot will be given to walk in registrants. ...

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...

PASKO NA NAMAN! Longest Christmas Season It's Christmas season once again. Pasko or Christmas is one of the most celebrated events in the Philippines. In fact, we have the longest Christmas season in the whole world. It's known as the "Ber months", with September as the starting month. At this time, we can already see christmas decorations and hear christmas songs played, on malls,  public transportations and even at homes. On the streets, lanterns or "parol" are already on display for sale. These are signs that once again it's Christmas season. Misa de Aguinaldo Back to my home place, the barrio where I was born, it was a tradition to hold a  nine (9) day novena in preparation for the birth of Jesus on Christmas Day, December 25. The novena would start dawn of December 16 and ends on 24th of December. As a child back then,  I really looked forward to these "Aguinaldo novenas", as we call it, because right after the novena, there will be "...