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Deed of Sale to daughters - collective Buyer or subdivide property

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jeunx


Arresto Menor

Hi everyone.

I need advise on the Deed of Sale we plan to execute. The property is under our parents' name, both still alive. Based on my understanding from this forum and research from the internet, a Deed of Sale if preferable over a Deed of Donation.

My question is, is it better to name us 4 daughters in the Deed of Sale as the Buyer, collectively or to have the property subdivided into 4 and acquire individual titles.

Which is the best/practical/cheapest option po?

It's a house and lot property po btw.

Thank you in advance!

attyLLL


moderator

actually, i don't agree. a deed of sale should be used only if there's an actual sale and you will pay. if it can be proved that there is no actual sale, you can be legally vulnerable.

https://www.facebook.com/BPOEmployeeAdvocate/

jeunx


Arresto Menor

hi AttyLLL

Thank you for the information. We will pay our parents at a much lower price. Anyway, whichever is higher naman po compared with the assessment value right?

attyLLL


moderator

that is correct, but if actual is lower than assessed value, the difference may be deemed a donation subject to donor's tax.

https://www.facebook.com/BPOEmployeeAdvocate/

jeunx


Arresto Menor

Thanks for the time Atty!

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