transfer of right to property to a non-biologically related and non-legally adopted children

Dear Sir:

Good day Sir, I'm single and I have a live-in partner and she is already married with 2 children from her previous husband. They've gone separated but not legally. Now I'm the one who raised the children for 8 years from grade school to college. I bought a property through bank but the bank let the title to be named just after me because my better half is still married with her previous husband as to legality. We don't have our biological child yet. What would be the best thing for me to do to assure that if in case that I was deceased the two children would have the full irrevocable right of my purchased property?


Thank you.

Best regards,

Jomari Reyes

jomari,

one of your options is to execute a deed of donation in favor of the two children. and, if you want the transfer to take effect only in the contingency or event that you said, then it should be a donation mortis causa.

For more free legal information about the matter, you may visit www.domingo-law.com

Dear Sir:

Which would be more reliable in favor of the two children, the deed of donation or the donation of mortis causa?

I just don't want to happen that in the event that I would no longer here my consanguinity may rebuke the right of the two children. I just want them to be secured.

Also, approximately how much would be the budget for that procedure and how long would it take? will I have to pay a tax even if it's a non-profit act?

I love my children so much more than my life even if they didn't came from me, perhaps as any father to his children, and for that I appreciate your expert's advise.

Thank you

Jomari Reyes

jomari,

a donation mortis causa is just a kind of a deed of donation. the kind of donation depends on when you want the transfer to take effect, that is, during your lifetime or upon your death.

my humble advice is that you contact a lawyer to advise you comprehensively not only as to your options but also as to how you can minimize the transfer tax that may be incurred for this transfer.

For more free legal information about the matter, you may visit www.domingo-law.com

You may transfer the properties by donation or by will but the same will still revert to your compulsory heirs at the time of your death unless you have enough property to cover for their legitimes.