Is there a way to transfer a club share membership of my mom to me without having to pay for the transfer tax of P20,000 which the club is requiring us?

We acquired a club share membership sometime in 1998 and it is under the name of our mother. I have been paying the annual dues for years now and I would just like to ask if it is possible to transfer the ownership from my mom to me. Primary reason is we cannot use the facilities of the club if the member is not with us. My mom is not getting any younger and she cannot accommodate us in all our trips to the club.

The club is asking us to pay P20,000.00 as transfer tax. Is a Special Power of Attorney or a Deed of Donation possible? Are there any means to transfer the ownership from mother to daughter without having to pay transfer tax which the club is requiring us?

I will appreciate any legal advice you can give us. Thank you very much in advance.

what the secretary of the club really requires is a Certificate Authorizing Registration from the BIR which is proof that taxes have been paid on the transfer of the share. please check the by-laws if there are other fees for the transfer.

If the hassle is worth it, you can process this yourself. your mother can donate it to you and i believe all she will be liable for is Documentary Stamp Tax depending on the book value of the share. There will be donor's tax if the book or par value of the share is more than P100,000.00 or she gives you other donations within a taxable year and the total goes beyond P100,000.00. note that the BIR will require a lot of documentation.

there is no legal and tax free way to do this.