Extrajudicial Settlement

Hi, my dad pssed away last yr and we siblings have to come up with an extrajudicial settlement. My sister insists on using the standard phrasing:
"...That the estate of the deceased consists only of his 5/9 share in a certain parcel of land..."
However, I am apprehensive about the use of the word "only" as my father's mom still has other properties which are being contested. Although these are still not technically in his name, I am worried that having the word "only" in the extrajudicial settlement would prejudice any properties we would be entitled to in the future.
Would it matter if we remove the word "only" from the extrajudicial settlement text?
Thanks so much in advance.

an extrajudicial settlement is supposed to list all the properties of the decedent. of course, if you include the claim over the other properties, your taxes may increase.

I recommend that instead of removing the word 'only', you rephrase it to say, the the estate of the deceased CURRENTLY consists of his...

That way if his claim is upheld, only then does that really become part of his estate, and you are given the leeway to include it as an additional item.

Hi! I need advice regarding the following...

Our parents have passed away a few years ago, and they have left us a few properties (our house and a piece of land in the province) but without any will. My siblings and I have agreed to sell these properties. But we are clueless on what to do.

Based on online research, we have to submit docs including an Extra-Judicial Settlement to BIR and pay estate taxes.

I also read somewhere that we can execute a Declaration of Heirship Extra Judicial Settlement with Deed of Absolute Sale.

Is the former and latter the same?
In the latter, do we need to pay estate taxes?
Which one is faster to process and more recommended in our case? (We have an interested buyer already for land in the province.) Or do we have other options to sell our parents' properties?

To anyone who can help, thank you so much.

both are valid, but I cannot say for sure how the BIR will treat the second one.

i did a little research and the court considers the second document as two documents but just was put into one. http://sc.judiciary.gov.ph/jurisprudence/2009/august2009/160743.htm

Thanks attyLLL for the reply.

If I ask a lawyer for advice/help with processing the papers, how much do they usually charge? Does it depend on property value? Coz we only have a few.

And also, is it necessary to publish Extra-Judicial Settlement in a newspaper before we submit the documents to BIR? Or we wait for instructions from them? If we need to, which newspapers accept publishing docs like this?

Thanks! =)

it really depends on which lawyer you retain.

as for publication, there are many newspaper agents in the courts.

What is a Deed of Assignment?

My father signed a Deed of Assignment with my Uncle as assignee before he died. Does this mean that the property is now under my Uncle's name?

We are now making an Extra-Judicial Settlement. Do we still have to include this particular property as one of my parents' estates?

Thank you!

is the property still in your father's name? what is your uncle's position on this?

The situation is this. My dad signed the Deed of Assignment para pag may actual buyer ang property, my Uncle will be the one to sign the papers and my dad won't need to go there since at that time he was already sick. However, until now wala parin nakabili ng property. Also, mukhang hindi naasikaso ng Uncle ko ang pagtransfer ng title sa name nya. Nasa name parin ng dad ko hanggang ngayon.

Is it still possible for my Uncle to have the title transferred to his name at this time? The Deed of Assignment has been signed 2.5 years ago. All he has is a notarized Deed of Assignment.

We were hoping na possible parin yun para hindi na namin isama sa pagfile ng estate tax returns.

Thanks!

yes, it is still possible to transfer, but don't you want the property to be part of the estate? will the uncle transfer the proceeds to the heirs? he might now claim the property is his.

yes, there is an internal arrangement that proceeds will go to us. it's actually a common property of the siblings, and in the deed of assignment, my dad's share is assigned to my uncle.

i read somewhere that the property must be transferred within 30 days after the date of the deed of assignment. is this true?

thanks again! =)

Affidavit must be executed by the heir and charges necessary to prevent extrajudicial estate.I a valid support agreement that we have read somewhere deed of absolute sale with a declaration of heirship extra judicial settlement should follow.

the 30 days is a tax issue. if you do not pay the taxes for the transfer, penalties will accrue.

Just new to this forum,

How long will it take for the extrajudicial settlement with SPA to process, considering there are no objections from any relative?

Thank you, I hope anyone can help me and enlightened me...

2-3 months

Good day! I'm just new in this forum and I'm glad to join.
Actually I have something to ask about Extra Judicial Settlement Agreement. \
My dad died last Nov 2010. He bought a 300 sqm lot in La Union with no title yet; only the Deed of Absolute Sale in his name alone. His Realty tax payment is updated. Now, there's an interested buyer and we want to sell it coz we're from Manila and have no intention of maintaing the said property. What shall we do. He left an SPA as I, the attorney-in-fact. Would it still be valid even if my mom is still alive? Is it necessary for us to execute the Extra Judicial even w/ SPA?
Need immediate response.
Thank you.

my dad died in 1991, we came across only now of some memorial lots under one contract still in his name. we siblings would like to sell the memorial lots. we were told that the contract first has to be transferred from papa to us.... with an extrajudicial settlement.
are memorial lots still subjected to capital gains? will we still have to go thru the BIR?
hope you could advise me on this.
thank you!

grace, that SPA expired when he died. you should settle his estate first. is your mother still alive? were they married? if they were, she owns half the property in her own right, and co-owns the rest with you children.

hi! im new in this forum. and i hope you can give me light on my problem.
my mother left us an ancestral lot but the tct is in the name of my maternal grandmother. My father has died and i have 3 brothers to share my mother's half of the property. My mother has one brother who also died already but has left a wife and 5 children. Effectively, our family owns half of the property and the other half belongs to my uncle's family. The problem now is that the wife of my dead uncle pawn the original title of the property to a private cooperative lending company without our knowledge and consent. We only found out about it when we were about to transfer the title to our names. Now my brothers and i would like to build a new house on our half of the property. How do we go about it? Can we go ahead and fence our side of the property and build the house? How can we go about transferring the title of our portion of the property to our name? What action can we do to the lending company when we do not have consent over the pawning of the title? Thanks a lot and more power.

i recommend you do take possession of the property. you may have to file an action to invalidate the mortgage. is it annotated on the title? they did not pay the loan?

they have not paid the loan and they do not plan to pay it. there are no annotations yet on the title.
so it is the best time that we build the house now?
How do we go about transferring half of the property
to us? Will an extra judicial suffice that half of the
property is ours so in essence our side is not covered
by the mortgage but only the half belonging to my uncle? tnx.

talk to the person who is holding the title. explain the situation. ask to see the documents issued.

i recommend you take possession of the property to protect your interest, but i'm not sure you want to take the risk of building the house.

if you cannot get the holder of the title to cooperate, you may have to file a judicial petition to settle the estate. you cannot have an extrajudicial settlement in case the debt is in the name of the registered owner

hi attorney,

my father died a decade ago and we have the title of the property. In my understanding, 50% of the property is owned by the wife (my mother) and the remaining half 50% is divided among children.

My question is: does our mother have the right to sell part of the property by means of extra judicial settlement? We children were not informed about it, but is it legal? or does it need to have the consensus of the children before she can sell part of the property which she believes is her share.

Thanks in advance....

she owns 50% by her own right, the other 50% is divided equally between the children and her included.

she cannot sell a specific part of the property, but she can sell her share.

Thanks for the reply. Just a follow up, my father didn't execute a will as to which part of the property is divided into whom. e.g. on a 500 sq m lot, she is entitled 250sqm and the remaining 250sqm will be divided amongst us children, so, in principle, she can sell any part of the property provided it doesn't go beyond 250sqm?

Thanks again. . ..