Market Value

Ours is a case settled through compromise agreement, approved by the court. Thus, the judgment. For every property left by our father, we the children (A) get 3/4 share while another party (B)gets 1/4. One lot was sold but we have to give the other party (B) their 1/4 share. The other party wants to be paid (monetary not land). In the agreement, it is indicated that we pay them using the market value of the actual payment. Does it mean the current market value of the lot? We've got the current Tax Dec. of the lot and the market value is only P20, 000.00 for the 2 hectare area by the road but hilly or mountainous. However the other party (B) has their own price of the lot amounting to 3 million pesos for the 1/4 share alone. Is their computation right or wrong? Again, the compromise agreement indicated market value only not selling price. I hope anyone with knowledge on this matter help us. Thank you.

kung ano po yung nasa compromise agreement, yun po ang susundin.

pero kung ang nasa compromise ay hindi naaayon sa batas, such compromise is null and void being contrary to law, public moral and public policy.

T_T

Maraming salamat po Foobarph!
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Malinaw naman po ang nasa Compromise Agreement na isasauli namin sa kanila (actually they are the Plaintiffs who receive the 1/4 share of every property) ang amount equal to the market value of the lot. Kaya lang parang gusto nila ang selling price, hindi ang market value which is P78, 300.00 only (for the 2 hectare area not P20, 000.00 pala)as of 1998. Based on their computation, baka raw we will be paying them 3 million pesos. Our computation (Based on the 1998 Tax Dec. kasi wala pang value for 2013 ang BIR) on the other hand, is only P19, 575.00. What shall we do? Thank you ulit po.

advise_please2013 wrote:Maraming salamat po Foobarph!
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Malinaw naman po ang nasa Compromise Agreement na isasauli namin sa kanila (actually they are the Plaintiffs who receive the 1/4 share of every property) ang amount equal to the market value of the lot. Kaya lang parang gusto nila ang selling price, hindi ang market value which is P78, 300.00 only (for the 2 hectare area not P20, 000.00 pala)as of 1998. Based on their computation, baka raw we will be paying them 3 million pesos. Our computation (Based on the 1998 Tax Dec. kasi wala pang value for 2013 ang BIR) on the other hand, is only P19, 575.00. What shall we do? Thank you ulit po.

again, kung ano yung nasa compromise agreement, yun lang ang obligation ninyo. if they want more, magkaso na lang sila. and if they do, you better have a good lawyer na magaling sa math. dahil ako, hate ko mag compute, haha!

chillax lang. pm mo rin si atty if you have time. im sure he can give better advise po

The compromise agreement is clear that they will receive 1/4 of every property.

Now, you have to talk (their side and your side) which 1/4 of the property they will get.

If they want cash, they can make that request from your side.

Not for them to demand CASH, based on their computation.

Estate Tax Management wrote:
The compromise agreement is clear that they will receive 1/4 of every property.

Now, you have to talk (their side and your side) which 1/4 of the property they will get.

If they want cash, they can make that request from your side.

Not for them to demand CASH, based on their computation.

if they are demanding CASH based on their computation at hindi ka naman nag a agree duon, i guess wala silang right na pilitin ka sa hindi naman talaga napagkasunduan. else, there is no compromise to speak of (kaya nga 2 way ito eh, give and take).

but make sure na kapag tumatanggi ka or nakikipagusap ka, dun sa harapan ng arbitrator or mediator nyo. mahirap makipagusap sa laway or text lang. good luck po!

Thank you very much Foobarph for the prompt reply! I am more confident that our party is on the right track. Salamat po talaga sa advice and more power.