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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Property of a deceased father for mortgage

Property of a deceased father for mortgage

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reinforest


Arresto Menor

Good day po!
Tanong ko lang po sana what I should do or if it is possible na gawing collateral ang farm land nmin na nakapangalan pa sa namatay kong tatay? My mother is still alive. Kailngan po ba n nasa name ko muna yung lupa bago ko ma apply as collateral sa bank loan?
Salamat po in advance

Jadis

Jadis
Reclusion Perpetua

May titulo ba ito?

reinforest


Arresto Menor

Meron po, nakapangalan sa tatay ko.

Jadis

Jadis
Reclusion Perpetua

Did you execute a deed of extrajudicial settlement and pay the taxes? If your father died a long time ago and the estate taxes have not been paid, you might want to get that fixed first.

reinforest


Arresto Menor

Unfortunately po, we haven't done anything pa on the estate.. I will just probably wait for the Estate tax amnesty bill to become a law. Thanks for your advice. Appreciate it Smile

Jadis

Jadis
Reclusion Perpetua

If it will not become a law the value of the tax will way exceed the value of the property.

reinforest


Arresto Menor

that's a good point. I should have known earlier how to handle those... thanks for the reply. One more question though, if yung titulo po ba is nakapangalan both sa tatay at nanay ko and my nanay is still alive, can I use it as a collateral for a bank loan with my mother's authorization?

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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Property of a deceased father for mortgage

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