Enlighten me with this. thanks.

leonhart · 1 Enlighten me with this. thanks. Mon May 02, 2011 1:45 pm

leonhart

Arresto Menor

Posts : 15
Join date : 13/07/2010

I recently acquired agricultural land in my wife's hometown in Samar for our one-year old son. My wife and I wish to have the property in our son's name at this time although he is not yet of age. Is this possible? If so, what are the requirements and how much do i have to pay?

THANKS. ^_^

attyLLL · 2 Re: Enlighten me with this. thanks. Fri May 06, 2011 7:28 pm

attyLLL

moderator

Posts : 21671
Join date : 12/04/2010
Location : https://www.facebook.com/BPOEmployeeAdvocate/

yes, it is possible. you will have the property named "SPS. mom and dad in trust for son, minor". the property can be transferred to him when he becomes 18, tax free. but now, you may be asked to pay donor's tax.

Enlighten me with this. thanks.

1 Enlighten me with this. thanks. Mon May 02, 2011 1:45 pm

leonhart

2 Re: Enlighten me with this. thanks. Fri May 06, 2011 7:28 pm

attyLLL