If You Have Plan To Own a Property in the Philippines Here is What You Need to Do
1. Obtain a copy of the land title from the seller or agent and verify its authenticity and any encumbrances at the Register of Deeds to ensure the land is clean and free from problems.
2. Hire a Geodetic Engineer to conduct a relocation survey to confirm the boundaries and ensure no structures or fences encroach on the property to be purchased.
3. If everything checks out, execute a Deed of Sale or Sales Contract signed and notarized by both the seller and buyer.
4. Pay the first fee, known as Documentary Stamps, within one month of notarization.
5. The seller pays the Capital Gain Tax to the Bureau of Internal Revenue (BIR), who then issues the Certificate of Authority to Register, certifying tax payment and allowing the transfer of title to the buyer.
6. Present the Certificate of Authority to Register to the Register of Deeds, pay the transfer fees, surrender the owner's copy of the title, and follow up with the Register of Deeds for the final processing of the transfer.
2. Hire a Geodetic Engineer to conduct a relocation survey to confirm the boundaries and ensure no structures or fences encroach on the property to be purchased.
3. If everything checks out, execute a Deed of Sale or Sales Contract signed and notarized by both the seller and buyer.
4. Pay the first fee, known as Documentary Stamps, within one month of notarization.
5. The seller pays the Capital Gain Tax to the Bureau of Internal Revenue (BIR), who then issues the Certificate of Authority to Register, certifying tax payment and allowing the transfer of title to the buyer.
6. Present the Certificate of Authority to Register to the Register of Deeds, pay the transfer fees, surrender the owner's copy of the title, and follow up with the Register of Deeds for the final processing of the transfer.
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