Transfer of Land Title

[eminem6480]

Hi guys,

I need your help to answer some questions, lalo na sa mga nakaexperience na. Here's the situation:

May bibilhin akong house and lot. Meron na akong pangbayad in full doon sa property. Ngayon first problem ko is kailangan ko ng extra money para mapatransfer sa pangalan ko yung title.

Here's my questions:
-Saan mas makakatipid mag loan - sa bank or sa Pag-IBIG?
- Tumatanggap ba ang mga banks or Pag-IBIG ng ganitong klase ng house loan na instead na sa mismong bahay gagamitin yung loan is sa transfer of title?
- Nasa magkano po ang estimate na magagastos ko lahat lahat para mapatransfer sa pangalan ko yung property? 2.2 Million ang amount ng house and lot sa tax declaration.
- May nabasa ako na after signing of deed of sale/notarization, dapat asikasuhin na yung payments sa BIR at City Treasurer's Office para maiwasan ang penalties. Kailan po mag start ang countdown kapag napirmahan yung deed of sale or mag base sila sa date of notarization?
- Anong mga importanteng documents ang kailangan ko from seller? (Note: Senior Citizen na yung seller, ok na ba yung Senior's Citizen ID niya for verification?)
Nagresearch na din po ako ng mga payments to accomplish sa BIR at sa City Hall, pero just wanted more input from Tsikoters. Any others tips you can share?

Maraming salamat!

[[archie]]

Simple really. Kung may pang bayad ka ng full... Why loan? As a buyer you will only shoulder transfer tax and doc tax. Capital gain is shouldered by the seller.

Minimal fees na lang yung sa buyer. As for the ID yes ok na senior id basta may tin siya. Madali ang cash payment and don't worry about the fees, minimal lang yun.

[shadow]

Simple really. Kung may pang bayad ka ng full... Why loan? As a buyer you will only shoulder transfer tax and doc tax. Capital gain is shouldered by the seller.

Minimal fees na lang yung sa buyer. As for the ID yes ok na senior id basta may tin siya. Madali ang cash payment and don't worry about the fees, minimal lang yun.

Capital gain ipapasa yan sa buyer ng seller.

[yebo]

Konti na lang naman yan babayaran mo.
- documentary stamp,1.5% of selling price = P33k
- transfer tax, 0.5% = P11k
- registration fee, 0.25% = P5.5k

so total na P49.5k lahat ng fees ang bayaran mo plus incidental expenses.

Kung sa quezon city yang property mag-hehearing pa sa court yan. This is due to all original land titles were burned during a fire of qc city hall in the 1980s. So need mo lawyer. May kilala ako na mura lang maningil, tambay city hall siya retired na yan ang sideline nya.

Capital gains tax of 6% is on the account of the seller. Huwag ka papayag na ikaw ang magbabayad nyan.

Also pag bigay sa iyo ng tct and tax declaration make sure na verified mo ito sa LRA and RD, at walang arrears ang real estate taxes. Baka mamya yan may annotations (liens and mortgages, sold already to another party, etc) pala ang original title tapos yung owner's copy wala. Kaya dapat kukuha ka ng certified true copy sa LRA ng title kasi andun ang current annotations if any at wala sa owner's copy.

[eminem6480]

Maraming salamat mga sirs sa opinions nyo.

*archie - Need ko lang talaga sir na iloan yung magagastos sa transfer of title, may mga dumating kasi na unexpected expenses.
*shadow - Pinapaabonohan muna sa akin ng seller yung CGT, wala kasi siya sa country.
*yebo - Tama ba sir itong computation ko?
BIR Capital Gains Tax ---> Php131,634 ---> 6% of the selling price or zonal value whichever is higher
BIR Documentary Stamp Tax ---> Php32,909 ---> 1.5% of the selling price or zonal value whichever is higher
Transfer Tax ---> Php10,970 ---> 0.5% of the selling price or zonal value whichever is higher
Registration fee for new title ---> Php5,485 ---> 0.25% of the selling price or zonal value whichever is higher

Cancelled naman sir yung nakalagay sa Encumbrances page. Meaning malinis yung title right?

Follow up questions lang po:
- May alam ba kayo within Manila area na nagnonotarize na legit at sigurado? Hindi kasi nag nonotarize yung mga nasa loob ng Manila City Hall kapag nalaman nilang gagamitin sa BIR. Nakakatakot naman kung sa tabi tabi lang.

[CLAVEL3699]

7% na po ang Capital Gain Tax kababayad ko lang.

[garfield_08]

7% na po ang Capital Gain Tax kababayad ko lang.

San RDO ka sir nagbayad? We recently sold a lot parcel in Bulacan 2 weeks ago, CGT was still computed at 6%, doc.stamp at 1.5%.

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7% na po ang Capital Gain Tax kababayad ko lang.

San RDO ka sir nagbayad? We recently sold a lot parcel in Bulacan 2 weeks ago, CGT was still computed at 6%, doc.stamp at 1.5%.

[leodawesome]

Also pag bigay sa iyo ng tct and tax declaration make sure na verified mo ito sa LRA and RD, at walang arrears ang real estate taxes. Baka mamya yan may annotations (liens and mortgages, sold already to another party, etc) pala ang original title tapos yung owner's copy wala. Kaya dapat kukuha ka ng certified true copy sa LRA ng title kasi andun ang current annotations if any at wala sa owner's copy.

Sorry noob question. What is this LRA? I'm eyeing a house and lot also in bulacan but wanted to check on the status of real estate taxes and annotations if any. Para kasing daming umaayaw dun sa property na buyers eh kaya na intriga ako.

[Juan Martinez]

Sorry noob question. What is this LRA? I'm eyeing a house and lot also in bulacan but wanted to check on the status of real estate taxes and annotations if any. Para kasing daming umaayaw dun sa property na buyers eh kaya na intriga ako.

LRA is land registration authority.

to know the status of the property you're eyeing to buy, do these things:

1. go to the Registry of Deeds of Bulacan. Request for a certified true copy of the certificate of title of that property. at the back of that certificate of title is a "memorandum of encumbrances." if there is no encumbrances listed or rubber stamped mark at the back of said title or if the back thereof is clean, then it is CLEAN-- no problem. (by the way, FYI, registry of deeds is the office, register of deeds is the book, registrar of deeds is the person).

2. if you want to know whether the real property tax is paid up-to-date, then you go to the municipal/city assessor and municipal/city treasurer of the place where the property is located for inquiry because real property tax is a local tax.

hope that helps.

[Juan Martinez]

register of deeds is the book, registrar of deeds is the person

i just checked pd1529 (property registration decre) no such thing as registrar of deeds only register of deeds who heads the registry of deeds.

[leodawesome]

LRA is land registration authority.

to know the status of the property you're eyeing to buy, do these things:

1. go to the Registry of Deeds of Bulacan. Request for a certified true copy of the certificate of title of that property. at the back of that certificate of title is a "memorandum of encumbrances." if there is no encumbrances listed or rubber stamped mark at the back of said title or if the back thereof is clean, then it is CLEAN-- no problem. (by the way, FYI, registry of deeds is the office, register of deeds is the book, registrar of deeds is the person).

2. if you want to know whether the real property tax is paid up-to-date, then you go to the municipal/city assessor and municipal/city treasurer of the place where the property is located for inquiry because real property tax is a local tax.

hope that helps.

Many thanks sir JM!

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LRA is land registration authority.

to know the status of the property you're eyeing to buy, do these things:

1. go to the Registry of Deeds of Bulacan. Request for a certified true copy of the certificate of title of that property. at the back of that certificate of title is a "memorandum of encumbrances." if there is no encumbrances listed or rubber stamped mark at the back of said title or if the back thereof is clean, then it is CLEAN-- no problem. (by the way, FYI, registry of deeds is the office, register of deeds is the book, registrar of deeds is the person).

2. if you want to know whether the real property tax is paid up-to-date, then you go to the municipal/city assessor and municipal/city treasurer of the place where the property is located for inquiry because real property tax is a local tax.

hope that helps.

Many thanks sir JM!

[Walter]

Sell it to the child / children.

[boybi]

Yung capital gains depende sa negotiation kung sino ang magbabayad. Usually pag tinawaran ng buyer yung price, sasabihin ng seller yung buyer nalang mag shoulder ng capital gains tax.

[Juan Martinez]

per se, donation vs. sale? this is no brainer. of course, sale.

[DeathRow]

Zonal value is calculated like this?

Whatever is applicable here: Zonal Values - Bureau of Internal Revenue

Corresponding ZV/SQ.M. multiply by the Lot area? (Size is F: 200 / L: 300) = Zonal Value

The proceed to calculate the:

CAPITAL GAINS TAX (6%)
DOCUMENTARY STAMP TAX (1.5%)
TRANSFER TAX (0.5%)
REGISTRATION FEE (0.25%)

?

[eminem6480]

Just wanted to update you guys:

Ok na lahat ng documents ko at in the process of transferring the title to me and wifey. Based lahat ng expenses sa market value (PhP2.2 M) ng land with improvements coming from Assessor's Office.

Ito mga expenses ko:

Notarization: Php5000
CGT (6%) : Php131,634
DST (1.5%): Php32,909
Transfer Tax (.00825): Php18,100
stamps and certified true copy of docs (~Php2-3000)

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Just wanted to update you guys:

Ok na lahat ng documents ko at in the process of transferring the title to me and wifey. Based lahat ng expenses sa market value (PhP2.2 M) ng land with improvements coming from Assessor's Office.

Ito mga expenses ko:

Notarization: Php5000
CGT (6%) : Php131,634
DST (1.5%): Php32,909
Transfer Tax (.00825): Php18,100
stamps and certified true copy of docs (~Php2-3000)

[NightRock]

May naka experience na ba sa inyo bumili ng lupa sa Sta Lucia. Ang tagal ng process ng transfer nila. Then ng sinabi namin na kami na mag transfer eh nag bigay ng computation na kami mag babayad ng CGT then hindi ba talaga sila ang aayos ng notary. Two lot kasi binili ko within the same subdivision pero mag ka iba pa ang seller parang joint venture sila yung isa San Ramon yung Isa Sta Lucia. Naayos ko na yung San Ramon ng walang problem sila din nag pa notary at binigay lahat mg kailangan doc para ma transfer namin. Etong Sta Lucia mukhang magulang laki sumingil ng transfer fee tapos pag kami mag transfers parang pahirapan makuha mga doc until now wala pa din yung pinag doc galing BIR

[machine.pistol]

In Bicol, there's a loan-security transaction called "prenda" where the creditor lends money to the borrower-owner and latter deliver the title certificate to the creditor as security without any written agreement. That's illegal. But it happens. For practical purposes, the borrower cannot sell the property because he is not in possession of the title certificate.

[draiman]

Guys, do you think good idea na ipasok sa bank ang lupang bibilhin kahit na 10% na lang ang kulang sa total contract price, para lang ma ensure na walang issue, dahil di ba gumagawa ng sariling property investigation ang mga banko bago aprubahan ang loan? Kasi sa kaso ko, I think I can pay the full amount in cash, pero I would like to have the peace of mind knowing the bank did their part na icheck ang lupa kung talagang genuine ang title. Ano sa tingin nyo?