help! Procedure on transfer of property

[CLAVEL3699]

Mga dudes,

May nabili ako lupa. Ano dapat ko gawin para malipat ko to sa pangalan ko.

Kumpleto na ako may dead of sale at nasa akin na titulo.

Ano mga taxes ang dapat ko bayaran at kung mgakano mga percentage nun.

By the way 300k lang nakalagay sa deed of sale. san ba compute yun sa amont dun sa deed of sale or the zonal value.

Thanks po

[Altis6453]

Well, you have to:


1. Pay for the documentary stamp tax and capital gains tax. The DST is about 1.5% of the selling price or fmv, whichever is higher. The CGT is 6% of the selling price or fmv, whichever is higher.

2. Secure a Certificate Authorizing Registration (CAR) from the BIR (presumes you've paid the documentary stamp tax and capital gains tax).

3. Pay the transfer taxes to the city or municipal treasurer where the property is located. Also, make sure that you secure a tax clearance stating that the real property taxes due on the property for the year are duly paid.

4. Present the duly notarized Deed of Absolute Sale, together with the owner's duplicate of the TCT, CAR and tax clearance to the Register of Deeds for registration. Depending on where your property is located, it takes about 10 working days for the new TCT to be issued in your name.

HTH!

[nestordreamin']

Yung bang pangalan na nakalagay sa titulo ay same person na binilhan mo? Otherwise malaking abala ito at dadami ang buwis na babayaran.

[van_wilder]

tayuan mo ng house? hehehe

[CLAVEL3699]

Yung bang pangalan na nakalagay sa titulo ay same person na binilhan mo? Otherwise malaking abala ito at dadami ang buwis na babayaran.

di ko po eto maintindihan.

syempre po nakapangalan dun sa binilhan ko.

[CLAVEL3699]

Well, you have to:


1. Pay for the documentary stamp tax and capital gains tax. The DST is about 1.5% of the selling price or fmv, whichever is higher. The CGT is 6% of the selling price or fmv, whichever is higher.

2. Secure a Certificate Authorizing Registration (CAR) from the BIR (presumes you've paid the documentary stamp tax and capital gains tax).


HTH!

tama lang po ba na ibaba ko yung nakadeclared sa deed of sale?

fmv - ano po eto?

laki po pala 6% yung capital gain.

[CLAVEL3699]

tayuan mo ng house? hehehe

may house napo sya eh kaso maliit lang.

[outmap]

fmv is fair market value

[CLAVEL3699]

fmv is fair market value

hindi ba sya yung declared value sa city hall?

[boybi]

yung declared value sa city hall ay yung assessed value. masyadong mababa ito and for land tax purposes lang yata ito.

magkaiba ba ang zonal value and fair market value?

[Altis6453]

yung declared value sa city hall ay yung assessed value. masyadong mababa ito and for land tax purposes lang yata ito.

magkaiba ba ang zonal value and fair market value?

Yes. The fair market value is actual current price of the property when made available for sale taking into account transactions involving similar property or property adjacent to the one subject of the sale, as well as the value of any improvements thereto. Zonal value is prepared by the BIR based on a range of prices for lots or properties situated in a particular area. If its too difficult to determine the fair market value of the property for purposes of determining the tax base, or if the selling price indicated in the Deed of Sale is doubtful or unusually low, then the examiner uses the zonal value as the tax base and applies the corresponding tax rate.

[Greaseman]

May nabili rin ako lote sa isang subd. sa mm
fully paid na sya pero di ko pa naaasikaso ang TCT,
I don't know the process is it the same as
altis6453 mentioned?. tenks!