HOW TO TRANSFER LAND TITLE TO HEIRS

Would like to seek assistance on how we could go about transferring the TCT of deceased spouses to their children. Spouses died more than 5 years ago, and 2 out of the 5 children are also deceased. All children (including deceased) are married, with children. What should we do first, and what are the charges to be paid? Is it advisable to transfer the title to an administrator, or to the names of all the heirs? What does sec 4 rule 74 mean? Will the annotation of sec 4 rule 74 on the title hinder us from selling the property? How long will this whole process take? Thank you.

who died first, the spouses or the married children?

You need to go to a lawyer to prepare a document called extra judicial settlement of the estate of the deceased which shall be signed by all the heirs of the decedent.

After which, taxes..which by law is called ESTATE TAX will have to be paid....oh this is already 5 years..im certain that the BIR will imposed a penalty for late filing of this kind of tax,which under normal circumstance should have been paid 6 months after the death of the decedents. Then after payment of taxes the BIR will issue a Certificate Authorizing Registration.

At the sime time you will be required to publish the fact of extra-judicial settlement of estate in a news paper of general circulation.

then all of the docs will be registered to the registry of deeds where the decedent resides.

Thanks for your reply, AttyLLL and admiral thrawn!

You've been very helpful!

Is it possible for the surviving heirs to just appoint an administrator? We heard that it's simpler than transferring the transfer to all the heirs. Is this true, and will this entail additional cost, like paying donor's tax on top of the estate tax?

if the transfer is to be done by book, each of the estates of the dead persons has to be settled, with estate taxes and penalties, if applicable, paid. I concur with admiral that the best way to do this will be to execute extrajudicial settlement of the estates of the deceased persons.

the end result should be the title will be in the names of the 3 surviving children, and the surviving grandchildren whose parents died. if the grandchildren are minors, their share can be registered and held in trust by their guardian until they reach 18.

i do not know what kind of administrator you are referring to. if you filed a petition in court to settle these estates, an administrator of the property will appointed and he has authority to sell the property.

in the extra-judicial settlement, the heirs may also name a trustee in whose name the property will be registered.

the heirs may also execute a Special Power of Attorney to sell the property for them.

there should be no donor's taxes to appoint an administrator. be careful, if you donate the property, the donee becomes the absolute owner of the property.