Advise Needed!!! Selling Property

[Walter]

Problema pa may mga properties pa na still under my paternal lolo's name lang or lola's name lang at siya lang may alam ng lahat kasi isa lang house nila ng Lola ko. Meron pa nga under my GREAT GRANDFATHER'S name Since we are in good terms she told me na yung sa great grandfather ko pag nabenta hindi na daw bibigyan yung iba, quiet na lang ako kasi I will just give my share sa Mommy ko.

She probably told the same thing to other relatives ... decent lawyers would not agree to sell properties without the heirs consent ...

[kisshmet]

NEVER sign SPA even if in good terms unless you are comfortable with forfeiting your share ... separate cheques ... many buyers are used to these type of transactions ... if it's selling below market price, buyer should be willing to put up with the inconvenience of issuing separate payments ... also better if direct bank deposit instead of cheque ...

DO NOT listen to people who have never had to deal with inconsiderate, greedy relatives ...

in the event of direct bank deposit..will the seller be willing to sign first the "acknowledgement receipts" of the payment/s (1 copy to the buyer and 1 copy to the seller) before the money get deposited to the sellers account or will the buyer insist on the seller to issue a signed acknowledgement receipt first before depositing the money

normally kaliwaan lang yan kung cheke ang ibabayad

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[Miles_on]

... separate cheques ... many buyers are used to these type of transactions ... if it's selling below market price, buyer should be willing to put up with the inconvenience of issuing separate payments ... also better if direct bank deposit instead of cheque ...

DO NOT listen to people who have never had to deal with inconsiderate, greedy relatives ...

With particular emphasis on the last sentence... MAKINIG KAYO (take heed!)

[suv]

may chinese proverb jan pag magulo ang hatian ng familya

"friends are the siblings God never gave us"

- mencius

[_Cathy_]

NEVER sign SPA even if in good terms unless you are comfortable with forfeiting your share ... separate cheques ... many buyers are used to these type of transactions ... if it's selling below market price, buyer should be willing to put up with the inconvenience of issuing separate payments ... also better if direct bank deposit instead of cheque ...

DO NOT listen to people who have never had to deal with inconsiderate, greedy relatives ...

Since my Lola turned 90 ang lakas na ng influence niya. My lola sold properties under her name and we did not get a cent. I didn't say anything since it's my lola's properties so it's her decision on who she wants to give it to. It seems like my Lola gave in to my Tita's belief that only the children deserve inheritance and NOT the apos/in laws.

My Lola paid for the lawyer's fees and estate tax for our inheritance from my Lolo's side but we were made to sign a document that all these will be deducted to our inheritance and PAID TO THE LIVING CHILDREN (aka my Tita)

Wala na nga kami mana sa properties sold ng Lola ko (mother ng Daddy ko), may utang pa

With particular emphasis on the last sentence... MAKINIG KAYO (take heed!)

Those who never had to deal with greedy relatives are lucky

Anyway, just as I suspected, since my Tita is in the hospital again and we're kinda being blamed for it because we stressed her out by not giving in to what she wants (sign without my lawyer's review of the documents)

[Miles_on]

Those who never had to deal with greedy relatives are lucky

Anyway, just as I suspected, since my Tita is in the hospital again and we're kinda being blamed for it because we stressed her out by not giving in to what she wants (sign without my lawyer's review of the documents)

Issues like that (bad relatives) can be found in any sector of society naman, whether A, B, C, D or E. The only difference is in the amounts involved.

It's actually quite common. People will be “people”, if you get what I mean. Nagkataon lang that you happen to be related to them.

Even in families that get along well, sometimes nasisira din because of people who marry into the family, and lumalabas lang yung totoong ugali nung asawa later on. Sometimes, even the kids are used as “weapons”...

[EQAddict]

Literal story of gold turning into dust in front of your very eyes Cathy.

Wish you well but stand your ground.

Your name is on the title. Therefore you have a say .

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[dr. d]

Even in families that get along well, sometimes nasisira din because of people who marry into the family, and lumalabas lang yung totoong ugali nung asawa later on. Sometimes, even the kids are used as “weapons”...

a family i know,
the matriarch dies.
"ninong, maganda naman ang tayo nyo diyan. wag na kayo sumama dito. kami na lang ang maki-mana dito."
"anukayo! para sa anak ko ang manang 'yan! can you guarantee he will be as successful in life as i am?"

[EQAddict]

Most families with assets go through this. Arm urself with a good lawyer.

Im expecting this as well as our family has significant land assets, company holdings, partnerships, on going businesses, etc.

Thats why i made it on my own. Gambled a lot during my early years on real estate. Everything else will be gravy. But even that will be a struggle.

Lesson for me is to liquidate most if not all before i go..and divide na while i am alive.

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[Akky M]

I rmember my lolo/lola transfer all their property belongings before they turn 80 to my erpat and titas and equally divided it, this make it easier eventually when they oassed away in their early 90’s.

my erpat is now late 70's and I started discussing with him to do the same before things become an issue later on.


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[dr. d]

when my parents died, they were literally dirt-poor.
all the assets had already been transferred to us.

[papi smith]

What I did naman is to sell our properties and transfer them to paper assets. I don't want to burden my family with the hassle of talking to buyers, agents, at baka mapagsamantalahan pa sa pricing or worse, maloko pa. Paper assets on the otherhand can be sold straightforwardly anytime at market price with the press of a button. Pag may swerte, bago matigok baka mailabas muna lahat, maiwan ang family home which is within the approved deductible amount.

[_Cathy_]

Even in families that get along well, sometimes nasisira din because of people who marry into the family, and lumalabas lang yung totoong ugali nung asawa later on. Sometimes, even the kids are used as “weapons”...

Isa pa yan! In laws na nilalayo or sinisira ang mga asawa nila from their family.

a family i know,
the matriarch dies.
"ninong, maganda naman ang tayo nyo diyan. wag na kayo sumama dito. kami na lang ang maki-mana dito."
"anukayo! para sa anak ko ang manang 'yan! can you guarantee he will be as successful in life as i am?"

In the case of my Tita Greedy (Dad's sister), I should waive my rights since apo lang ako at hindi anak

I have an Aunt naman (Mom's sister) voluntarily waived on PH properties (sa proceeds hindi na siya humahati). I wish to be on that level of financial success. hehehe.

Most families with assets go through this. Arm urself with a good lawyer.

Im expecting this as well as our family has significant land assets, company holdings, partnerships, on going businesses, etc.

Thats why i made it on my own. Gambled a lot during my early years on real estate. Everything else will be gravy. But even that will be a struggle.

Lesson for me is to liquidate most if not all before i go..and divide na while i am alive.

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Yes, that's why I think sulit na what I spent for my lawyer. He's UP law and used to hold a position in government so I trust him to protect my interest well.

Another issue is I don't have an heir and I want my assets to go to my direct bloodline naman or at least my spouse.

I rmember my lolo/lola transfer all their property belongings before they turn 80 to my erpat and titas and equally divided it, this make it easier eventually when they oassed away in their early 90’s.

my erpat is now late 70's and I started discussing with him to do the same before things become an issue later on.

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when my parents died, they were literally dirt-poor.
all the assets had already been transferred to us.

I want to clarify lang, may estate planning naman kami. lol. My grandparents already gave assets to their children/separate individual properties. These properties na may issue are properties that were transferred to ALL HEIRS (multiple names sa title)

These are properties that have been in our family for centuries and the surrounding properties are also owned by relatives. Dati kasi it was kept in the family kasi the siblings/relatives would just buy out each other. Unfortunately, sa line ng Lolo, sa generation namin, we don't have enough cash to buy each other out. Yung Tita Greedy ko, siya ang nagi insist to sell because she badly needs cash at lahat kami nakikisama lang.

Wala na sa control ng grandparents ko na hindi magkasundo ang heirs, buhay pa sila, they did their part which is to transfer and equally divide the properties to their heirs. May natira konti properties that were not transferred but the value isn't significant.