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Transfer of the deceased person's TCT to the new buyer

3 posters

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Omer


Arresto Menor

Hi Mr. Attorney. I am a foreigner living in the Philippines married to a Filipina. We wanted to buy an agricultural land with a clean title and tax declaration. I found one but the TCT is under the name of a deceased person. The son of the deceased person did not transfer the TCT to his name because he had plan to sell the land. He said he has the signatures of his father and siblings with him authorizing him to sell the land to another buyer without transferring it to his name. I asked them to transfer the TCT to the seller's name first and I will deal directly with the seller, who is the son of deceased person. They said it will take 6-8 months to transfer to his name and another 2 years to the new buyer. They said it is possible to transfer directly to the buyer without transferring to his name. He will shoulder all the taxes (e.g. Estate Tax and Capital Gain Tax). They tried to assure me there will be no problem with that but I wonder if they are right. Can a land under the name of deceased person be transferred to the new buyer without transferring the name to his heir and with the signatures of the deceased person and siblings? And if yes, how long will the process take? Thanks in advance.

Lunkan


Reclusion Perpetua

I BELIEVE it can be done as they say,
but I BELIEVE it need an Extrajudical process too to establish who are hiers, to see if the documents they have are signed by all. (For instance is the mother alive still and missing at the documents?)

Ask a (province) lawyer for assistance to check if all are done corect.

antonio ekis

antonio ekis
Arresto Menor

Go ask directly to district DAR (Dept of Agriculture) for your peace of mind. Yes it's possible to sell the land with extra judicial documents.

Omer


Arresto Menor

Thank you Lunkan and Antonio. I feel now more confident. I already asked about mother if she is still alive. Her name is in the title as "married to" the deceased owner. I am waiting for the reply. I will also go and ask directly to district DAR. I appreciate this forum and you people. I have 2 more questions:

1- How long may the process take for the extrajudicial process to finalize? Is it longer than the usual process?

2- I asked the bank (BPI) about the loan but the bank said they do not give loan for the agricultural land but only for house and commercial lot for development. Do you know which banks or institutions can give loan to purchase an agricultural land?

Lunkan


Reclusion Perpetua

If the mother is alive, she is probably part owner.

1. I don't know how long time such take. I guess it can be rather big regional differences.


2. I don't know how hard it is to get loan. but I know these have lend with agri land as collateral :
/PNB
/My saving grace
/and I suppouse Landbank

And I would try local small bank too.

Even some big banks have big policy differences regionaly.

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