Quote Originally Posted by swordsman View Post
thank you, very enligtening, sir.

that's what i'm worried about, and will double check. by

by the way, when it comes to trasferring of ownership, is a land title same as a certificate of registration on a vehicle?
for example, the original land/property owner(who's name appears on the title) sold the land to another(2nd owner) but failed to have the title changed to his name; the 2nd owner then sold the property to another(3rd owner). Is it possible to transfer the ownership from the 1st owner to the 3rd owner directly? Of course the deed of sale from 1st to 2nd to 3rd owner is intact.

I think when it comes to vehicles, this can be done, not sure about land.

if paying with a loan from a bank, woudn't there be checks done by the bank(aside from what the buyer should do) to avoid any possible fraud, in this case?
sorry, i'm not sure what the definite mode is when transferring from 1st to 3rd owner. it might be that the BIR will throw the book at you and charge you capital gains tax for both transfers. ouch! what i only know of is when a someone buys from the developer then sells to another, he can issue a deed of assignment of rights. the developer charges a fee and the rights are transferred to the new buyer.

but this would be even more basis to be cautious if you're not buying from the registered owner. yes, the bank is charged to be extra ordinarily diligent so they will check out everything. good luck!