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Dear Attorney,
I'm interested in acquiring a real property from a relative. There is no problem with the Land Title and the owner. However the problem is this. The TCT owner is stated like this " Juan dela Cruz married to Juanita Ramos". JUan dela Cruz with four children of legal age, died several years ago, there is no will and the property was not subdivided up to the present. The owner indicated in the TCT remains the same. We know that there will be a equivalent inheritance tax to be paid if they will sell it, which I or them have to shoulder. Is there a best way to minimized the cost of tax. Hope you can enlighten me. Thank's
I'm interested in acquiring a real property from a relative. There is no problem with the Land Title and the owner. However the problem is this. The TCT owner is stated like this " Juan dela Cruz married to Juanita Ramos". JUan dela Cruz with four children of legal age, died several years ago, there is no will and the property was not subdivided up to the present. The owner indicated in the TCT remains the same. We know that there will be a equivalent inheritance tax to be paid if they will sell it, which I or them have to shoulder. Is there a best way to minimized the cost of tax. Hope you can enlighten me. Thank's
