Free Legal Advice Philippines
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

SALE OF PROPERTY

2 posters

Go down  Message [Page 1 of 1]

1SALE OF PROPERTY Empty SALE OF PROPERTY Wed Feb 20, 2013 7:08 am

cwv4489


Arresto Menor

My sister is selling her property in the Philippines. We want to get some answers to the following questions:
(1) Is Deed of Sale the proper document for this transaction?
(2) Do we need to have 2 witnesses, as well as have the document notarized; OR is it one or the other?
(3) Aside from the names of the buyers and sellers, the description of the property, the sale price, mode of payment, who will pay the fees/charges, what are other important terms should be in the contract?

We would appreciate your prompt response. Thank you

2SALE OF PROPERTY Empty Re: SALE OF PROPERTY Wed Feb 20, 2013 7:43 am

jd888


moderator

(1) If the transaction is in Full Cash you need to execute an Absolute Deed of Sale, but if the buyer only gave partial payment you have to draft a Contract of Sale

(2) Yes Two (2) Witnesses is better than One (1), and the buyer have to Notarize the Absolute Deed of Sale if the buyer is ready to transfer the Old Title to his/her name

(3) It is usually the Seller who will shoulder the Property Tax and the Capital Gains Tax, only the buyer will shoulder the Transfer Fees

Above will depend on your agreement prior to the Sale-Proper; requiring a service of Real Estate Broker may be really helpful.

http://www.chanrobles.com/

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum