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Phil property

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1Phil property Empty Phil property Wed Aug 05, 2015 4:10 am

francisco tibajia


Arresto Menor

My mother, a U.S. citizen, living in CA, owns a property in the Phil. The title is under her name & my father (deceased). There 4 of us children, 1 just passed away. My mother have executed a POA with me as Atty-in-fact to manage the sale of the property. What are the requirements to proceed with the sale of the property? Thanks.

2Phil property Empty Re: Phil property Wed Aug 05, 2015 2:04 pm

Katrina288


Reclusion Perpetua

Where did she execute the POA? If it's in the U.S., she has to have it authenticated in the Phil. Embassy there. Also, you have to make sure that the POA is a Special Power of Attorney (not General power of attorney).

In sale of real property, you must ensure that there is an Absolute Deed of Sale prepared by a lawyer (for the necessary contents thereof), ensure that all the taxes have been paid (both in the city hall and in the BIR), title of the property, and the SPA itself.

http://www.kgmlegal.ph

3Phil property Empty Re: Phil property Thu Aug 06, 2015 4:03 am

francisco tibajia


Arresto Menor

Thank you for the response.
It is "power of attorney" with me as Atty-in-fact, was executed and authenticated by Phil Consulate here in L.A.
DO we need to execute an Extra Judicial Settlement?
Does the POA expire should my mother pass away?
What happens if one of the children is opposed to the sale of the property at this time?
Thanks for all your help.

4Phil property Empty Re: Phil property Wed Sep 02, 2015 2:32 am

Ladie


Prision Mayor

Francisco tibajia wrote:

"DO we need to execute an Extra Judicial Settlement?"

Yes since your father is already deceased. If you settled the property to sell it, then Extra Judicial Settlement with Sale is appropriate, or ..with Waiver, whichever is applicable.

"Does the POA expire should my mother pass away?"

I think if it is stated in the SPA or POA that it is irrevocable until the power and authorities granted are accomplished.  Better ask a lawyer on this.

"What happens if one of the children is opposed to the sale of the property at this time?"

If one opposed, then the ExtraJudicial Settlement cannot be executed!  Whatever those who opposed to sell the property, then whatever is wanted to agree should be indicated on the settlement agreement.  For example in our case, we are 8 siblings, we conferred first what everyone wants--sell, subdivide or lease/rent the property, two do not want to sell their portion and wanted titled in their name while another sibling waived his right donating it to another sibling who already wanted to title his portion leaving him with 2 portions (his and donated portion), we indicated all these on the settlement agreement including who will handle the expenses, and to materialize these, we had the property subdivided into 8 lots. The other 4 siblings agreed to sell their portions with agreement that these 4 lots are connecting together to be able to sell them at a higher price.

____________
NOTE: I am not a lawyer but just an ordinary person trying to share my opinion, knowledge and experience that maybe of help to you.... Ladie

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