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Hi,
This is the sitiuation-- my parents purchased a house and lot in a subdivision, but I just found out recently that the property still has unpaid arrears, and the title is still registered under the developer's name. My parents have the Agreement to Sell.
Now, according to the developer, I can pay the arrears, and the title will be released but will still be under the name of developer--- after which I can work with BIR, and Registry of Deeds to then transfer the title to my name (after processing of self-adjudication as I am an only child and my parents left no Last Will and Testament). Is this the correct process? Also, it will take me a while to raise the funds to pay off the full arrears, but I can pay ASAP all delinquent taxes. Will I be able to start the self-adjudication already even if I have not paid the arrears yet?
I'm a bit new in these process-- can any expert in such situation chime in?
Thanks!
This is the sitiuation-- my parents purchased a house and lot in a subdivision, but I just found out recently that the property still has unpaid arrears, and the title is still registered under the developer's name. My parents have the Agreement to Sell.
Now, according to the developer, I can pay the arrears, and the title will be released but will still be under the name of developer--- after which I can work with BIR, and Registry of Deeds to then transfer the title to my name (after processing of self-adjudication as I am an only child and my parents left no Last Will and Testament). Is this the correct process? Also, it will take me a while to raise the funds to pay off the full arrears, but I can pay ASAP all delinquent taxes. Will I be able to start the self-adjudication already even if I have not paid the arrears yet?
I'm a bit new in these process-- can any expert in such situation chime in?
Thanks!
