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

Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Selling donated property

Selling donated property

5 posters

Go down  Message [Page 1 of 1]

1Selling donated property Empty Selling donated property Mon Jan 11, 2016 1:19 pm

jenny983


Arresto Menor

Hi, our mom and dad have donated their conjugal property to their legal heirs (my sister and I) years ago. We have all the legal docs on hand like the deed of donation, and the title. We have not done or paid anything to get a new title under our names yet because we planned to sell it. One of our parents are out of reach because we are not in good terms. My sister and I were hoping we can sell the property with just the title under our parents name and the deed of donation...is this doable or do we really need to transfer the title under our names first?

2Selling donated property Empty Re: Selling donated property Mon Jan 11, 2016 6:14 pm

karl704


Reclusion Temporal

You should still process the registration of documents and payment of taxes for the donation but i think you can process simultaneously the selling of the property para isang lakaran na lang and new title would be under the name of the buyer na. But you still have to pay donor's tax and interests penalties (which I presume to have accumulated in huge sum due to long period) and the captital gains tax for the sale.

3Selling donated property Empty Re: Selling donated property Mon Jan 11, 2016 6:25 pm

jenny983


Arresto Menor

Thank you @karl704 appreciate the help Smile

4Selling donated property Empty Re: Selling donated property Tue Jan 12, 2016 12:30 pm

betchay001


Reclusion Perpetua

You may also opt to do it directly (Deed of Sale from the parents' name to the new buyer) so that you only pay taxes one time (Capital Gains Tax and Doc Stamps vs. Donor's Tax then Capital Gains Tax & Doc Stamps).  You'll just have to get the signatures of both parents.  If not possible, then you may forego this option.  

If I were a buyer though, I'd prefer to see the title in your names prior to purchasing it.

5Selling donated property Empty Re: Selling donated property Tue Jan 12, 2016 1:42 pm

jenny983


Arresto Menor

I see...option two is close to impossible.

Follow up question please...on the Title it said agricultural land though most of the neighboring lots now are residences, for donor's tax purposes, you think it would stay classified as agricultural or would it change once assessment is done? There were no improvements except for a concrete fence. Worried about the donor's tax plus penalties Sad

6Selling donated property Empty Re: Selling donated property Tue Jan 12, 2016 5:33 pm

Filia

Filia
Reclusion Perpetua

Only the govt can change the classification of the land. If the zoning ordinance states that it is agricultural regardless of being used as residential, that remains agricultural.

7Selling donated property Empty Re: Selling donated property Fri Jan 15, 2016 10:18 am

jenny983


Arresto Menor

I am so glad to hear that! Smile

8Selling donated property Empty Re: Selling donated property Fri Jan 15, 2016 10:24 am

jenny983


Arresto Menor

Follow-up question...re donor's tax

BIR asked us to present an Affidavit of No Prior Donation . We are not in good terms with one of our parents due to a bigamy filed against the person. Is it possible to procure this document from one parent alone? It was a conjugal property. So if one of them tried to donate the property prior to donating it to my sibling and I (their heirs) without the permission of the spouse, it's considered void, right?

9Selling donated property Empty Re: Selling donated property Sat Jan 16, 2016 8:54 am

jenny983


Arresto Menor

jenny983 wrote:Follow-up question...re donor's tax

BIR asked us to present an Affidavit of No Prior Donation . We are not in good terms with one of our parents due to a bigamy filed against the person. Is it possible to procure this document from one parent alone? It was a conjugal property. So if one of them tried to donate the property prior to donating it to my sibling and I (their heirs) without the permission of the spouse, it's considered void, right?
Crying or Very sad Crying or Very sad Crying or Very sad

10Selling donated property Empty Re: Selling donated property Sat Jan 16, 2016 12:12 pm

technified_ex

technified_ex
Prision Correccional

Sad to say, both should have signed the document on donation.

Where was the document when it was donated to you?

11Selling donated property Empty Re: Selling donated property Tue Jan 19, 2016 6:53 am

jenny983


Arresto Menor

Both have signed the deed of donation. We have the legal document on hand.

We want to proceed with the next step so that we can sell the property. However, is there really a need for an affidavit of no prior donation? Is there a way to work around this? Because at this point, we can only get one parent to make a sworn statement that they did not as husband and wife donate the property to anyone else prior to donating it to us.

12Selling donated property Empty Re: Selling donated property Tue Jan 19, 2016 9:25 am

technified_ex

technified_ex
Prision Correccional

I think one signature of the spouse will suffice since you still have the original deed of donation sign by both the parents. Just try to negotiate with the BIR.

By the way, have you registered your deed of donation with the Registry of Deeds? If you have, then, that is a notice to the whole world that there are no other annotations on your said property, that is, if there isn't.

13Selling donated property Empty Re: Selling donated property Tue Jan 19, 2016 9:34 am

jenny983


Arresto Menor

hay salamat...Smile

That's the thing...we need to pay BIR first before we get the certificate allowing us to proceed to the registry of deeds

Sponsored content



Back to top  Message [Page 1 of 1]

Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Selling donated property

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