How To Transfer Land Title in the Philippines? Part 1

It is sad to note that here in the Philippines "some"  buyers/investors of real estate property(ies) would have it secondary to transfer their name(s) in their title for different reason(s).  Some says that they would have it (property) only as investment that they would ask the new buyer to transfer it to avoid tax obligation (CGT) on their part.  Well, that is another story for us to discuss later.  However, some first time real estate buyers think that when they paid the property it is instantly in their name or that the transfer of title was part of their contract or sale.

Here are some basic steps in transferring Title in your name;TITLE TRANSFER
 - Prepare the following documents
     - Notarized Deed of Sale
     - Official Reciepts of Notarization of the Deed of Sale
     - Photocopy of government issued ID's by the Seller and Buyer
     - Certified true Copy of Title and Tax Declaration
     - Vicinity map and Lot plan
     - Tax Clearance
     - Cerificate of No - Improvements (for vacant lot)
     - Updated Tax Reciepts
     - Acknowledegment Reciept of Full payment by the Seller
     - Tax Identification Number (TIN) of Buyer and Seller
     - Duly filled up BIR Form(s) for;
          - One Time Registration of TIN for Buyer and Seller/ Application of Registration
          - Capital Gains Tax Form
          - Documentary Stamp Tax Form
  - Present the applicable documents to BIR for determination and computation of tax due.
  - Proceed to BIR accredited Banks for payment of tax due.
  - Pay required fees to BIR.
  - Submit related documents together with Bank reciept of payments to secure C.A.R.,

When the BIR released the Certificate Authorizing Registration or C.A.R. then you may now proceed to the Registry of Deed to apply for a new Title in your name.

by: A.M. Gomez, Real Estate Broker

For your real estate title transfer call 0919-4174862 Beng Gomez