Real Estate (inheritance)

[chefron]

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.

so sir, incase the net asset is valued at 1.5M so less pa yung 500k, meaning to say 8% of 1M tama?

[marssie]

Kung may itatransfer na title kay hubby, kailangan ko rin bang pumirma sa deed of donation?

[denzki]

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

salamat sa replies...ngayon ko lang nabalikan ito, dahil ngayon me sumulpot na namang issue...gusto ko na sana muna itong kalimutan...hehe

follow-up question on your replies bankerII (salamat sa walang sawang pagsagot!)

1) Para san po ang "Cert. of Total Landholdings of the deceased"? and lahat ng deceased kelangan kunan ng ganun? Say 3 na ang deceased dun sa mga nakapangalan sa title, lahat yun kukunan ng ganun?

2) Hindi po ba dapat lawyer ang i-consult? ano po ba ang pinagkaiba kung lawyer or real estate broker ang i-consult?

also, i posted din in other threads...pero parang mas fit ata dito...here's another question:

if one of the heirs decided to sell his share, pwede ba nyang magawa yun without the consent of others?


thanks for the help!

[ann08]

paano po kung may Will na binigay sa akin ang father ko in his hand writing, tapos deed of donation ang ginawa then let's say nasa name ko na yung land title pero my sister contests/naghabol? what is the chance rate na makakuha pa sya ng part dun sa land na binigay sa akin ng father namin? ma ququestion pa din ba in the end bakit sa akin binigay yung land at hindi hati?

the Will was made kasi when my sister had and still has issues with my parents you know the rebelde thing.


Thanks sises.

[PrincessC]

sorry for the question, required ba talaga magbayad ng estate tax? para saan ba ito? iba pa ba ito sa real estate tax?

my dad died last sept. he didn't leave a will. kami lang ni mommy ang heirs nya since only child naman ako.

TIA!

[chefron]

opo kase hindi malilipat sa name nyo yung property kung di nyo babayaran. iba pa ang amilyar dun

[aquacharly]

sorry for the question, required ba talaga magbayad ng estate tax? para saan ba ito? iba pa ba ito sa real estate tax?

my dad died last sept. he didn't leave a will. kami lang ni mommy ang heirs nya since only child naman ako.

TIA!

YES, REQUIRED to pay ESTATE/DEATH Taxes.

Para saan? Darling, Lahat puede i-tax ng government, may tax - ganon lang yon. 
With or without a will -- you pay Death Taxes.
Kahit na napag usapan nyo ni mom mo maayos Lahat -- Basta may property, may bank account, may investment: may Death Taxes.
You may not pay all due to pabilisan ng withdrawals/transfer of funds & bank managers who turn a blind eye -- but you cannot not pay some death tax basta may property of value naiwan ng namatay.

Hindi como no claims from illegal spouses and/or illegitimate children = zero death taxes --  WRONG, meron pa din.
Hindi como conjugal property = zero death tax -- WRONG, meron pa din.  Even if zero legitimate kid, zero illegitimate kid -- meron pa din death tax.

The 1st step is to have a Notarized Extrajudicial Settlement between you & your mom.

You must remove your dad's name from the TCTs -- or risk penalties & complicated paperwork later on.

Talk to a competent employee of the Registry of Deeds  (may checklist & ma teach ka how to minimize taxes).  Consult a lawyer too.

Do not ignore this, it will not go away. There will always be a day of reckoning. 

[Miss Charcoal]

Yung real estate tax per property ba yan? Pano kaya yun kung maraming properties pero wala namang funds to pay for the taxes..? o.O

[aquacharly]

^oo, real estate tax is per property.
Every property has a tax on the land & another tax for improvements (anything built on the land), if any

If real estate taxes are not paid, add penalties to taxes due
Later on, at some point in time -- after certain procedures -- ma public auction yan to pay back the local govt for unpaid taxes.

Maraming properties, zero funds?  Sell  some of the properties para magka funds to settle real estate taxes.

[aquacharly]

paano po kung may Will na binigay sa akin ang father ko in his hand writing, tapos deed of donation ang ginawa then let's say nasa name ko na yung land title pero my sister contests/naghabol? what is the chance rate na makakuha pa sya ng part dun sa land na binigay sa akin ng father namin? ma ququestion pa din ba in the end bakit sa akin binigay yung land at hindi hati?

the Will was made kasi when my sister had and still has issues with my parents you know the rebelde thing.


Thanks sises.

Pano Kung may Will tapos Deed of Donation....  Teka, buhay pa I father?

If buhay pa si Father, the best thing para walang habol si sister is to Sell the property to you.  Hindi como Donation eh walang transfer taxes, meron din & halos same sa transfer tax of sold properties. 

If your father is dead, kahit na may handwritten will -- the law says he cannot disinherit a legitimate heir kahit na 1 day a parent wakes up & hates the pangit face of an offspring.  So, yes - your sister has equal share to you of whatever you get que may will, donation deed, etc basta hindi pa na transfer yan sa yo before he died.   

[aquacharly]

Ang sharing of the estate will vary a little IF the dead person had his will probated before his death.  Most in the Phils do not bother with probated wills, coz it is a tedious lengthy process. And most have no courage to face the backlash from his  heirs for his favoring other heirs more &/or giving to others who are not, as described by law, to be his legitimate heirs (ex kab1tch, hehe).
And a probated will can only affect a certain portion (25%) of the total estate.
It cannot disinherit legitimate heirs (surviving spouse, legitimate & illegitimate children) -- but can just increase or decrease the shares. 

What people with properties usually do is to put properties in their children's name (legitimate/legitimate basta hindi na minor) while buhay pa sila.  (Ginagawa din ito  for kab1tches).    Either buy & outright put kid's name na or transfer via Deed of Sale or Donation.
While a person is alive -- puede gawin anything (even burn his money) - so puede give only to certain kids, zero some kids... Give to kab1tch, etc etc etc
But once he/she dies -- the law on inheritance kicks in. 

[Miss Charcoal]

sis aquacharly: Okay, thank you!

Ang mga columbarium-vaults & memorial lot under rin ba siya ng real estate?

[yndy]

This is what my MIL did when she learned that [textspeak!] had an illegitimate. Unti-unti nilipat sa names ng hubby ko and his sister yung properties nila. The business naman nailipat na sa name namin ni hubby and for now we give them shares sa earnings. Ngayon tulong kami ni MIL to sneak on stuff na nakalusot under her nose. Properties, bank acct, etc. Parang ang yaman lang hehe di naman rich pero buti nang naninigurado. Ito ang magandang natutunan ko from MIL.

[faye-tea]

Hope someone could give me some enlightenment about this.

Last year, sometime Feb., I signed deed of sale of our house from NHMFC para malipat na sa name ko yung title. Then, after signing, sabi ng NHMFC they will call us back. Eh di ito naman kami hintay-hintay hanggang sa naabutan na ng stroke ang father ko. So hindi na namin naasikaso.

Then come this November 2012, we decided puntahan na ang ngayon lang namin nakuha sa NHFMC yung deed of sale as well as the aff. of consolidation and yung capital gain tax/doc. stamp records.

Now, here's the problem. Deed of Sale is not yet notarized. The date written on the deed is dated 2011 pa. So paano yun ipapa-notarize and paano process nun when BIR enters? For sure there will be penalties. Should I expect huge penalties?

Sorry if this may sound dumb. Wala talaga ko alam regarding this kasi father ko dati ang nag-aasikaso nito. Kaso unable na siya ngayon because of stroke.

[agape]

May similar problem din ako, and hindi ko pa alam paano ko aayusin.
Basta ang alam ko ang law na i-apply dyan is yung real estate laws na effective pa nung time na namatay ang owner 1983, and pati [textspeak!] prices/taxes is worth nung time nung 1983 din and not the current fair market values.

From what I know, for big penalties, it is negotiable with BIR, ang important sa kanila is naka-collecta sila ng pera.

[ann08]

Pano Kung may Will tapos Deed of Donation....  Teka, buhay pa I father?

If buhay pa si Father, the best thing para walang habol si sister is to Sell the property to you.  Hindi como Donation eh walang transfer taxes, meron din & halos same sa transfer tax of sold properties. 

If your father is dead, kahit na may handwritten will -- the law says he cannot disinherit a legitimate heir kahit na 1 day a parent wakes up & hates the pangit face of an offspring.  So, yes - your sister has equal share to you of whatever you get que may will, donation deed, etc basta hindi pa na transfer yan sa yo before he died.   

Thank you for answering my question. Im not updated na sa thread so at this  time of writing.

May properties nman po na nag equal share kami yun nga lang may isang property na gustong ibigay sa akin ang father ko without my sister's share.

Will + deed of donation + dead father = Ilang % na makakukuha pa ng sister ko ang part nya?

I am expecting worst to happen din minsan... Paano kung dumating kami sa court... May chance ba na maging share kami sa property na dapat sa akin lang binigay? (May ibang properties na nag share kami... pero my share would be bigger na compared to her.. kung sa akin mappunta itong isang property)

It may sounds that Im greedy getting the inheritance but there are deep issues involved. :/

Thank you sis Aquacharly. I really appreciate it.

[ymari]

Hi, my problem is about the Deed of Donation made since 2005 by our mother, but until now we didnt transfer it yet or do partitions for the 3 of us. I am the one paying the real property tax way back 1970's up to present. I am the eldest among the 3 of us.

1. How many percent are we going to pay for this donation?
2. Some say, theres a penalty because the donation was dated 2005
3. Can i ask my siblings to pay and share the taxes ive been paying since 1970's up to present, and all of the expences that will be needed for transfer?
4. If they have no money to pay, can i just get some of their share from the property? It is a 400 2m lot in novaliches area.
5. Is it possible for me to choose which part of the lot i will take?

[PrincessC]

i have a question, may property ang lolo ko under his name sa Mindoro. he is already dead and left no will. he has 4 children and pumayag na lahat na ibenta yung property. however, one of the children (my dad) is dead na rin. kami lang ng mom ko ang heirs nya and payag rin kami na ibenta ang property.

nilalakad ng isang tito ko now [textspeak!] estate tax ng lolo ko and biglang kinukulit nya kami ngayon ng mom ko kasi hinihingi raw ng BIR ang birth certificate ko (which I understand), land holdings certificate ng dad ko, certificate of residence ng dad ko and paperwork ng bahay namin here in manila (property declaration, tax clearance, etc) na pinundar ng parents ko na nakapangalan na sa akin ngayon. (nilipat na sa name ko [textspeak!] property after my dad died)

bakit kelangan yun eh wala namang kinalaman [textspeak!] property sa manila sa property sa Mindoro since sariling pundar na yun ng parents ko at from the start, sa pangalan na nila yung bahay.

ano ba talaga ang process ng estate tax kung patay na ang isa sa mga heirs (my dad) and may heirs ring naiwan yung namatay na heir (kaming 2 ng mom ko)?

also, pwede pa rin ba kaming habulin ng BIR for estate tax ng property ng lolo ko na never naman nalipat sa name ng heirs nya? hindi kasi naming sinama yun nung inayos naming [textspeak!] estate tax ng dad ko since hindi naman sa pangalan ng dad ko yung property sa Mindoro.

please give me advice. thanks!

[mameejhy]

Yung real estate tax per property ba yan? Pano kaya yun kung maraming properties pero wala namang funds to pay for the taxes..? o.O

A life insurance plan (insured si parent; beneficiary si spouse/ child) can "create" wealth/ money to pay for estate taxes!

[nicoletta]

aquacharly

How about if the father 2 years before he passed away gave a house as a gift to his son before getting married,  Should this house be deducted from his inheritance or should it be left alone kasi considered as gift siya?

The issue is he was the only one who was given a house.  The other one who got married was just given a house to use, free of rent, but that's about it.  The others are not yet married, so naturally they didn't get anything substantial yet aside from the usual cars, jewelries etc.  Thanks!