Get weekly updates via email!
tip of the day THU 27 NOV 14
Off for a swim? Avoid getting cramps in the water by warming up properly before jumping in the pool.
  • Good House Keeping
    The New Mrs. Pitt, Angelina Jolie, is on the cover of the November issue of Good Housekeeping!
    Good Housekeeping
GIRLTALK

Author Topic: Real Estate (inheritance)  (Read 8863 times)

Amphitrite

  • wife, mom, student, wedding planner &
  • Super GirlTalker
  • *****
  • Posts: 1034
  • Magickal Muse
    • Magickal Muse
Real Estate (inheritance)
« on: April 15, 2010, 10:59:55 PM »
Kwento ko muna...

Nakatira kami sa bahay at lupa na pagmamay-ari ng lolo ni hubby (descedent) na namatay noong 1983 pa. Hanggang ngayon nakapangalan pa rin sa descedent yung lupa at bahay. Si MIL at BILs kasama namin dito sa bahay, at yung ibang unit ay pinaparent namin.

May 3 properties si descedent. Itong tinitirhan namin, 1 sa manila, 1 sa ilocos.

Eto ang mga family ni descedent:
- surviving spouse, 90 yo nsa U.S. hindi marunong magbasa at magsulat
- children are all married with kids:
#1 deceased
#2 deceased, yung asawa nya deceased din, yung kids kasama naming dito sa property but in a separate house
#3 deceased, asawa at anak niya yung nakatira sa manila
#4 nakatira din sa property in manila
#5 nakatira sa property in ilocos
#6 nakatira sa US, US citizen na rin
#7 nakatira sa US, US citizen na rin
#8 nakatira sa US, TnT
#9 si MIL
 
Ang iniisip ni MIL ay paano na kaming at yung kids ng kapatid nya na kasama naming dito sa property, kapag namatay na ang nanay niya (surviving spouse).

Ang alam ko kasi (based sa tax subjects in school):
- Kapag may property ang isang taong namatay dapat i-file sa BIR para mabayaran yung estate tax
- 1/2 ang share ng surviving spouse
- 1/2 divided equally sa mga legitimate children
- compulsory heirs ang asawa at anak, ito ay kapag walang Last Will & Testament

Sa paniniwala kasi ng mga tao noon kapag namatay ang isa sa mag-asawa ay 100% mapupunta na sa naiwang asawa. At hindi rin nila alam itong estate taxation eh.

Eto questions:
- 1983 pa patay yung may-ari ng bahay at lupa, ano ang kailangan namin gawin?
- Kung i-declare ang 3 properties paano hahatiin yun (legal process)?
- Kung sabihin nung 2 kapatid na nakatira sa 2 properties ng descedent na huwag i-declare yung tinitirhan nila kapalit ng hindi na nila paghati sa mana, pwede ba yun?
- Magkano kaya ang magiging penalty nito? (kung meron)

Takot pa kami magtanong sa lawyer o sa BIR kasi wala naman kami pambayad ng estate tax kung sakali.

Thanks.
My blog, My thoughts, My passion, My Life

Home of Rajon Labradors

True magick transcends intellectual ability.

bankerII

  • GirlTalker
  • **
  • Posts: 48
Re: Real Estate (inheritance)
« Reply #1 on: April 16, 2010, 05:34:26 AM »
Estate Tax Return
This return is filed by:
1. The executor, or administrator, or any of the legal heirs of the decedent, whether resident or non-resident of the Philippines, under any of the following situations:
a. In all cases of transfers subject to estate tax;
b. Where though exempt from estate tax, the gross value of the estate exceeds two hundred thousand (P200,000) pesos; or
c. Regardless of the gross value of the estate, where the said estate consists of registered or registrable property such as real property, motor vehicle, shares of stock or other similar property for which a clearance from the BIR is required as a condition precedent for the transfer of ownership therof in the name of the transferee; or
2. If there is no executor or administrator appointed, qualified, and acting within the Philippines, then any person in actual or constructive possession of any property of the decedent.

Filing Date

The return is filed within six (6) months from the decedent's death.

For computation, see back of BIR Form 1801

persephone

  • I am a no-nonsense
  • Junior GirlTalker
  • ***
  • Posts: 219
    • in my head right now
Re: Real Estate (inheritance)
« Reply #2 on: April 18, 2010, 08:42:33 PM »
^ that takes care of the query on payment of estate tax (and other taxes, if any).

Even though it's been years since the death of the decedent, I think you should have his estate settled judicially to arrive at the proper partition and distribution of his properties to the surviving heirs you mentioned.

Re: not declaring two of the decedent's properties, that might be considered during the settlement proceedings in court, BUT for tax purposes, baka (and malamang) masisilip 'yan ng BIR.

aquacharly

  • Super GirlTalker
  • *****
  • Posts: 4750
Re: Real Estate (inheritance)
« Reply #3 on: May 03, 2010, 07:16:38 PM »
The Surviving Spouse gets 50% of the Estate, PLUS  the share of 1 legitimate child.

Since walang Probated Will:
     AFTER the 1st 50% is allotted to the Surviving Spouse,
     The 50% balance is divided among the legitimate and illegitimate children... and remember, the Surviving Spouse gets a Share too of the 50% balance, equivalent to the share of 1 legitimate child.

So assuming 9 legitimate children and no illegitimate children:
     1st 50%  goes to the Survivig Spouse
     Then divide the 50% balance into 10 equal parts.   Surviving Spouse gets 1/10 of the 50% additional.

Habang buhay pa si Lola -- settle nyo na.
IF lola is willing kasi sooo old na sya and well, it is assumed she is taken cared of naman... Donate na nya her share of the estate equally among her kids.. or, kung sino nya gustong bigyan.  As long as one is alive and kicking... puede mo ibigay kahit na sa aso mo.

Tignan mo at baka naman pumayag din ang mga nasa US na ibigay na lang their share to those left behind here.   In which case, mas madali ang partihan. 
But settle it now... talagang after lola dies.. labo labo na yan.
Or, the estate tax arrears get so huge... ma remata na yang properties in favor of the government to settle the tax liabilities.

Get a good lawyer to help you fix it all.

vani88ty

  • Newbie
  • *
  • Posts: 25
Re: Real Estate (inheritance)
« Reply #4 on: May 12, 2010, 02:24:48 PM »
if decedent left no will and no debts and all heirs are of age, they may divide the estate among themselves by means of a public instrument filed in the office of the register of deeds...this presupposes that all heirs agree. they may execute an extra-judicial partition of real property.

i suggest you talk to all children and lola. mas peaceful kasi kung magkakasundo na lang kaysa mag away away later, baka walang makinabang. everybody should sign, even the children and spouse of the deceased children of lolo and lola

*nightdreamer*

  • GirlTalker
  • **
  • Posts: 111
  • dreams are free..
Re: Real Estate (inheritance)
« Reply #5 on: May 19, 2010, 12:49:28 AM »
Just my two cents for purposes of open discussion:


- 1983 pa patay yung may-ari ng bahay at lupa, ano ang kailangan namin gawin?  Estate tax ( as explained above )

- Kung i-declare ang 3 properties paano hahatiin yun (legal process)?
Since these 3 properties are covered by 3 separate titles, in difft places, and considering your budget is not sufficient, is it possible na yun 1 property lang where you live ang ayusin nyo muna. At least after maayos, the property where you're living now would  bear your name as co-owner na. ( In addition, i understand that US citizens are not allowed to own lot property here under their names )
 
“Be careful of what you wear on bed at night, you'd never know who you'd meet in your dreams...”

vani88ty

  • Newbie
  • *
  • Posts: 25
Re: Real Estate (inheritance)
« Reply #6 on: May 20, 2010, 01:43:31 PM »
@nightdreamer

pwedeng mapa-transfer ang property sa mga heirs kung:

1. lahat ng heirs ay sasang-ayon na ilipat na sa pangalan nilang lahat ang property; o kung sasang-ayon lahat na sa isang tao lang o sa iilang tao ililipat ang pagmamay-ari ng property

2. walang utang ang namatay na may-ari ng property; at

3. walang will ginawa ang namatay na may-ari ng property

kung present lahat ang tatlong kondisyon na ito, pwede nang ilipat ang pagmamay-ari ng real property sa taong mapagkakasunduan ng lahat ng heir; paano?

sa isang kasulatan kung saan sinasaad iyong 3 mga kondisyon sa itaas.

ipapanotario ito at ifafile sa registry of deeds na nakakasakop sa lupa.

kung higit sa 2 ang lupa, pwede parin sa iisang dokumentro iyon pero ireregister din sa registry of deeds kung nasaan ang iba pang mga lupa.

pero mas maganda kung kukunsulta sa isang abogado lalo na sa paggawa ng kasulatan

kung itatransfer ang isang lupa sa madaming tao, ipapangalan ang titulo sa mga taong ito, stating kung gaano kalaki ang bawat isa. pero hindi ang pwesto nung share. para ma-settle kung saang portion ng lupa ang share ng isang tao, kailang ipa-subdivide siya ng lahat ng co-owners

*nightdreamer*

  • GirlTalker
  • **
  • Posts: 111
  • dreams are free..
Re: Real Estate (inheritance)
« Reply #7 on: May 20, 2010, 10:30:49 PM »
@ vani88ty

Yup, the infos you provided are the pre-requisites, procedures and documentations per se. What i had posted in reply to Amphitrite's inquiry is the possibility of processing first ONE property considering her tight budget for estate tax, penalty & processing fees. If the decedent left three (3) properties and assuming that there would be no issue whatsoever with the decedent or its heirs, is it legally feasible to process and transfer ownership as agreed upon by all heirs of ONE property/title muna?
“Be careful of what you wear on bed at night, you'd never know who you'd meet in your dreams...”

vani88ty

  • Newbie
  • *
  • Posts: 25
Re: Real Estate (inheritance)
« Reply #8 on: May 21, 2010, 01:52:17 PM »
the law speaks of "estate", my interpretation is that it should include all real properties owned by the decedent

aquacharly

  • Super GirlTalker
  • *****
  • Posts: 4750
Re: Real Estate (inheritance)
« Reply #9 on: May 21, 2010, 02:26:38 PM »
You cannot do settlement of an estate piece-meal, as VANITY88TY stated.   There is only 1 Extrajudicial Settlement/Agreement to be filed.  It is illegal to file 1 for example, here in MManila, and then another in Ilocos.

*nightdreamer*

  • GirlTalker
  • **
  • Posts: 111
  • dreams are free..
Re: Real Estate (inheritance)
« Reply #10 on: May 21, 2010, 10:21:00 PM »
Case gettin clearer. So legally, it's gona be extrajudicial settlement of estate covering ALL decedent's properties and therefore, you gotta pay the total estate tax na which is a big condolence to one's pocket.
“Be careful of what you wear on bed at night, you'd never know who you'd meet in your dreams...”

denzki

  • GirlTalker
  • **
  • Posts: 38
Re: Real Estate (inheritance)
« Reply #11 on: July 11, 2011, 12:19:36 PM »
mga sis, need help on real estate problem also...inheritance din...i'll try to explain ng maayos, medyo masalimuot...based lang sa pagkakaalam ko...merong titulo, nakapangalan sa apat (4) na tao...one of them is my father and the others mga kapatid nya...now all of the persons in the title are deceased. paano ba ang hatian nun? at paano ba yun sisimulan ayusin? thanks for your help in advance...marami pa kong tanong, heto muna for now
"Seek excellence and do not stop at 'good', it is not good enough."

http://blessings-in-life.blogspot.com/

bankerII

  • GirlTalker
  • **
  • Posts: 48
Re: Real Estate (inheritance)
« Reply #12 on: July 11, 2011, 12:49:09 PM »
Extra-judicial settlement of Estate to be
signed by all legal heirs - heirs of father, heirs of brother
and heirs of sister ....
 ;)

sweet_cherry

  • Junior GirlTalker
  • ***
  • Posts: 462
Re: Real Estate (inheritance)
« Reply #13 on: July 11, 2011, 01:04:38 PM »
Hatian sis: all the heirs of the four must be included. I.e. sa father mo, sino sino ang kasama: the surviving spouse (if any) ikaw at mga kapatid mo. you will step into the shoes of your father so kumba apat sila 25% of that is owned by your dad, so hati hati kayong mga tagapag mana ng tatay mo sa 25%
.

denzki

  • GirlTalker
  • **
  • Posts: 38
Re: Real Estate (inheritance)
« Reply #14 on: July 11, 2011, 02:22:37 PM »
salamat sa reply mga sis. sa hatian saming magkakapatid, hindi muna namin pinoproblema for now. dahil ang problema ngayon, is paano ang hatian dun sa 4 na nakapangalan...hindi ako familiar masyado sa law, pero sa pagkakaintindi ko lang, if walang specific na nakalagay sa titulo kung ilan ang parte ng bawat isa, dapat equal na hatian yun di ba?

another thing is, san ba ko dapat mag-umpisa? i have a copy of the title, certified copy lang ito...gusto kong malaman kung me iba pa bang existing na title as some of our relatives are claiming na meron pa daw ibang titulo...i don't know the whole story...kaya gusto ko lang sana ayusin ng unti-unti...i wanted to check first the status of the title...san ba ko pupunta? register of deeds main office or manila city hall since sa manila located ang properties?

san ba pinakamagandang magtanong? sa attorney? sa surveyor? san ba makakahanap ng surveryor and how much na ba ang charge? meron bang mga libreng assistance sa ganitong cases?

sorry, dami tanong...your feedbacks are highly appreciated mga sis. thanks!
"Seek excellence and do not stop at 'good', it is not good enough."

http://blessings-in-life.blogspot.com/

bankerII

  • GirlTalker
  • **
  • Posts: 48
Re: Real Estate (inheritance)
« Reply #15 on: July 12, 2011, 05:18:28 AM »
denzki,
for real estate problems, consult a licensed real estate broker.
1. kung Manila-based kayo, get  a Cert. of Total Landholdings
   of the deceased sa  City Assessor's office.
2. in the absence of indicated shares in the title, it is presumed
   to be " in equal share, pro indiviso"
3. geodetic engineers will come in only if there is subdivision of
    a parcel of land.

hth

mameejhy

  • SuperMAMEE!
  • Super GirlTalker
  • *****
  • Posts: 1149
    • Mamee + Babee Bookworms
Re: Real Estate (inheritance)
« Reply #16 on: January 29, 2012, 03:37:46 PM »
Eto ang scary part sa real estate inheritance... :(

chefron

  • Super GirlTalker
  • *****
  • Posts: 1505
Re: Real Estate (inheritance)
« Reply #17 on: March 24, 2012, 10:58:54 AM »
can someone explain to me how thsi goes?

http://www.bir.gov.ph/taxinfo/tax_estate.htm

lets assume that i have a net estate of 500-2M, so my heirs would pay 15k for the tax plus 8% of what? and whats the last column that says OF THE EXCESS OVER?
EPHESIANS 2: 9

SALVATION IS NOT A REWARD FOR THE GOOD THINGS WE HAVE DONE, SO NONE OF US CAN BOAST ABOUT IT

jojo2978

  • Junior GirlTalker
  • ***
  • Posts: 263
Re: Real Estate (inheritance)
« Reply #18 on: March 26, 2012, 09:24:15 AM »
Kindly look at the table, 500k-2M, the tax that should be paid is 15k plus 8% x amount in excess of 500k but within 2M.

ldrwifey

  • a crazy wife and a
  • Junior GirlTalker
  • ***
  • Posts: 346
Re: Real Estate (inheritance)
« Reply #19 on: March 27, 2012, 08:22:44 AM »
In addition, i understand that US citizens are not allowed to own lot property here under their names
pwede silang magkaroon ng property if nakuha nila by inheritance, and also expat pinoys are allowed to own properties din pero may limitations.

ganito din situation ng family namin, sa mother side, up to now nasa pangalan p rin ng great grandmother ko yung mga naiwan niyang properties.

 

ADVERTISEMENT
follow us
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Featured Articles
5 Steps to Financial Fitness in Tough Times
Instead of grumbling about the plight of the peso and dwelling on the negative, try these helpful tips to stay afloat. Remember--a little discipline goes a long way!
You're the breadwinner: Now what?
You want the freedom to spend your money as you wish but you know that if you don’t bring home the bacon, no one else will.
Getting money-wise: Why women are naturally capable of managing cash
She works hard for the money but she doesn’t know how to invest it. Here, Pearlsha Abubakar tells us why women are capable of managing their money well, but don’t. Read and get smart with your money.
Never go broke again! The FN guide to financial freedom-forever!
Fear not bankruptcy or eternal dependence on your parents (or a man!). There's a financial strategy for everybody. Read and get money-wise.
Wise up: Start your own business!
Tired of living from paycheck to paycheck? Why not go into business? Read on and find out how just a little cash can become a lot.