Help pls...Transfer of Title from parent to child

[lelaina17]

Hello. My parents want to give me one of their properties.  What's the best way to do so?  Is it by deed of donation?  I have two brothers.  Will the transfer affect their shares in our inheritance?  My parents already told us which specific property would go to each one of us.  If they execute a deed of donation, does it have to include my brothers' shares?  Or can that come later (through a different deed)?

Also, the property they want to transfer to me has a typographical error in the technical description.  Do they have to file a petition for its correction?  Or will an affidavit do?  Do they have to hire a lawyer or can they sign the petition/affidavit themselves?  How long will the process of correction take?  Will hearings be conducted?

Thank you so much! 

[raspberryglace04]

^just some clarification... yung properties that they want to donate to you and your brothers, hindi pa ba yun yung mamanahin nyo? kung iba pa yun, syempre mababawasan yung mamanahin nyo kung ido-donate na nila sa inyo yung properties.

pero imho, mas okay na habang buhay pa yung parents eh ipamahagi na yung properties para hindi magulo. malaking problema din ng nanay ko at mga kapatid nya yang partehan na yan, buti sana kung hekta-hektarya yung paghahatian... kaso 220sqm lang naman kaso 5 silang magkapatid at walang gustong maglabas ng pera to subdivide the property accordingly.

anyway, when choosing which way to transfer the property is the best, check mo kung saan ang pinaka-mababang tax ang babayaran. nakalimutan ko na kasi kung may tax or fees kahit pag deed of donation ang means of transferring. most likely meron kasi sa pinas naman lahat may tax.

pero yun nga, check which is the least costly ang tax na babayaran... deed of donation, (simulated) sale, thru inheritance.

ang alam ko pag thru inheritance may estate at inheritance tax pa yata. kung may last will & testament eh ipapa-probate pa yan. kung walang will, extrajudicial partition na lang mangyayari, yung tipong kayo-kayo na lang magkakapatid ang mag-aagree kung paano hahatiin pero yung paglilipat ng title sa mga names nyo may fees at tax pa din.

kung papalabasin na binenta sa inyo ng parents nyo yung gusto nilang 'i-donate' sa inyo, may transfer tax at capital gains naman, tapos ganun din babayaran din yung paglilipat sa name nyo ng titulo.

so bottomline, check nyo yung mga babayaran then choose the best method of conveying the property.

yung sa typo error... yung nakuha namin na property sa pag-ibig may typo error din. inireklamo ko at sila pinaglakad ko ng correction kasi nga gagawa pa ng affidavit yung original or registered owner, ite-trace pa kung saan nagkamali hanggang umabot sa mother title, then papa-ayos pa sa registry of deeds tsaka may isa pang agency na di ko matandaan name. basta medyo mahabang proseso at syempre maraming fees na babayaran. hindi naman yan hine-hearing... correction of paperwork lang yan kumbaga. yun nga lang madaming agencies ang involved, at least 3 yata. sa registry of deeds kayo magsimula magtanong. better bring a CAD rendition ng tech description para makita agad na yung mali. dapat kasi nagko-close yung points nung tech description to be considered correct. 

pero again imho, dapat ipa-correct kaagad, kasi kung hindi, yun pa din erroneous tech description na yun ang makokopya sa bawat salin ng titulo na yun, so habang lumilipat ng lumilipat eh mas hahaba ang pagte-trace back kung saan nagkamali. kung balak nyong ipamana sa mga anak nyo yan eh maawa naman kayo sa kanila kasi sila eventually maglalakad nyan.

yun nga palang mga taxes at fees na babayaran for each method of property conveyance, pwede nyo din itanong sa registry of deeds. for likely hindi din alam ng lawyers exactly how much, pero kung me kilala kayong lawyer you can try asking, wala naman mawawala.

caveat, di ako lawyer, based on personal and work experience lang opinions ko tsaka nag-law din ako before. but it was a long time ago. :-)

[bankerII]

Yes. you can go for a "Deed of Donation "
w/c goes like this:
in consideration of the love and affection of ........
Whatever reason your parents has of giving the property to you now ay labas na ako doon.

HOWEVER, it is wise that in the document, you should include your two brothers as
"witnesses" to preclude possible future problems.

re: typo error

depends.
if the ö came out as only an o,
no need for all those normal formal notices for correction of entries.

For details, contact a Licensed Real Estate broker.
this is a real estate problem.
 

[lelaina17]

^thank you for your replies.

re typo error - the title is already in my parents' names.  the error is contained in the title of the 1st owner/seller, but the technical description in the title of the developer is correct.  it was bought in 1983 by the person who sold it to my parents.  the 1st owner/seller didn't bother to have the technical description corrected.  maybe bcoz he's abroad or coz he didn't know there was an error.  it was really just a typographical error on the part of the one who copied the technical description from the developer's title to the 1st owner/seller's title.  the problem is we can't build anything on the lot unless the technical description is corrected first.

[raspberryglace04]

^yup sis kung technical description ang may error, best na i-correct talaga agad kasi baka in the future eh magka-dispute pa (like kung i-claim ng katabi nyong bahay na yung property line nila extends to your part of the property na) kasi affected ng tech despcription yung overall size nung lupa at bearings (or location ng 'mohon').

yung sa amin nung pina-plot namin sa CAD bukod sa hindi nagsara yung points eh pumasok yung isang linya, so lumiit yung sukat.

banker me tax or fees ba ang deed of donation?

may nabasa ako sa real living magazine before, inilagay na nya sa names ng kids nya yung mga properties na ina-acquire nya, bale bawat kid may sarili ng bahay at lupa. ang quandary ko is paano nya nagawa yun kasi minor pa yung kids, as in eldest is 15 yata at the time na binili nya at nilagay sa name nung bata yung property. so paano kaya nya nagawa na ipangalan sa minors yun, thru a trust?

attorney yung daddy nung mga bata eh...

[bankerII]

rasp,
puede mo i-register sa pangalan ng minor ang isang property.
HOWEVER, hinde nila puede i-benta yun.
kasi, minors eh!
they cannot sign contracts.
 

re: typo errors
depends.
its either administrative or judicial
(if it will affect the area, siempre, judicial)
much like correction of entries in birth certificates.
 

[raspberryglace04]

^ganun ba banker... paano ba ipapa-register yung property sa name ng minor? deed of donation nga? me tax ba pag nag-donate?

yung sa correction ng technical description typo namin administrative lang... kasi sa traceback nakita na mali lang yung pagkaka-kopya ng nag-type nung TCT. pero yun nga pag-ibig fund ang nag-asikaso kasi sa kanila pa naka-register yung title since 30yrs to pay ito. ang pine-prevent ko lang is yung ma-transfer na sa amin yung TCT with the wrong tech description.

[bankerII]

there are pre-requisites in a Deed of Donation.
one is for the donee to acknowledge it.
since the minor cannot sign, it will need ANOTHER
phase- legal guardian.

it would be different if you purchase a property
( thru a Deed of Sale) and have it registered under
the name of the minor.

for Donor's Tax, refer to this :
http://www.bir.gov.ph/birforms/form_trn.htm

[nikki]

I just acquired a property from my grandparents. Instead of transferring the title to my dad, deretso na sakin. I consulted a lawyer too and we tried to compute for the taxes if deed of donation or deed of sale. We ended up with deed of sale for 2 reasons: less paperwork, less hassle and lesser tax/transfer fees.

Im just waiting for the title under my name to be released by the registry of deeds. Ang tagal Nya.. More than 1 month na. And when i checked sa lra website last weekend nasa approval pa Lang and status.

[raspberryglace04]

^talaga sis, less pa yung tax at fees pag deed of sale? sa deed of donation ba may capital gains tax din?

sa deed of sale kasi alam ko me transfer tax, 6% capital gains and other fees pa. sa deed of donation di ko alam breakdown ng charges eh... baka naman me comparison ka ng fees, tax and charges ng deed of donation and deed of sale, pa-share naman please. :-)

[younis]

personally, I would advice you to take Deed of Sale instead of Deed of Donation. Due to this reason: pwedeng pagdating kasi ng araw, pag namatay ang donor, yung ibang legal heirs pwedeng maghabol dyan. ang alam ko hindi ganun kalaki ang differences ng taxes nila. and I would rather pay higher if not that much, at least at the end of the day, I am the absolute owner of the property. When I say absolute, ako ang legal owner, walang habol ang ihang heirs kahit legitimate pa sila, kasi nagkaron ng transaction between 2 parties, seller and buyer, in this case, seller is your parents, and buyer naman ikaw. remember when a Deed of Absolute Sale is executed, the actual agreement is reflected on it.

[bankerII]

there is no single answer.
HOWEVER, if your only concern is baka mag-habol ang ibang heirs,
the diskarte here is for them to sign as witnesses!
 

[raspberryglace04]

^may mas maganda akong suggestion banker... kuhanan ng picture or better yet video habang pumipirma complete with voice over kung ano yung pinipirmahan at para saan!  kasi kung basta lang pumirma eh baka later on i-claim na forged yung pirma. 

nakakatawa di ba? pero sa experience ko sa work ko before where we lend to exporters (govt agency kami) aba nung hindi na makabayad ng loan at magfo-foreclose na kami eh kine-claim na nilang forged daw pirma nila!

additional security, ipa-photocopy yung ID na reference ng pirma, or isama sa ivi-video.

[younis]

^^hehe pwede naman silang gawing witness.... wag lang susumpungin ng matinding sakit ng ganid pagdating ng panahon, baka i-deny na sya ang pumirma dun haha! korek i-video nga para may proof.

but as for my advice, at least ayaw ko na umabot sa mga ganyang eksena, kaya mas ok sa akin ang execution of Deed of Absolute Sale, hindi na ako maiistorbo pa.

[betty]

so deed of sale, parent as the vendor and the son/daughter is the buyer?

hindi din ba makwekwestyon pagdating ng panahon yun? i mean pinalabas lang kase na binili pero wala naman capacity talaga....

another scenario:  my husband's side has a property which their tita owned. prior to tita the land is owned by the lola originally.. now the story is, the lola sold the lot to the tita.(they are 4 sibling by the way) now tita sold the lot to my brother in law... now naghahabol ngayon yung mga kapatid ni tita(w/c is their tita and tito too) kase sa magulang daw nila yun pag aari. may habol ba sila eh binenta nga ng magulang nila ke tita yung lupa

[nikki]

@raspberryglace04 - sis, i don't have a comparison.  actually when i consulted a lawyer it was all estimate.  i guess, his recommendation to go for deed of sale is really because it's a much simpler, direct process than the donation.

this is what i remember are the fees i paid excluding those P50, P100 extra for certified copy of some docs, etc.

- Capital Gains tax Php100k++
- Documentary Stamp Php20k++
- Transfer Tax Php7k++
- Registration Fee Php6k++

this is for a 295sqm lot at 5000 zonal value.  They will always go for whichever is higher so kahit na 500k sale value lang ang nasa deed of sale, they still used the zonal value for taxes & other fees.

@betty - sis, they don't question it.  as long as you (or your representative) are able to pay the fees and taxes, they won't really care.  in fact, sa city hall i went to, they all said that a deed of sale is an easier transaction than a deed of donation.

[raspberryglace04]

uu nga sis betty, the people at LRA or registry of deeds won't really question the sale kasi ministerial (administrative) lang ang role nila, basta pina-registro at binayaran lahat ng fees okay na.

nagkaka-problema lang yang kung me capacity to buy the property or wala pag may naghabol, like creditors or relatives questioning the sale. usually they will file a case in court questioning yung legitimacy of the contract or the deed of sale, dito na papasok yung question ng capacity.

pero kung ang deed of sale is between a parent and a minor, for the purpose na maipangalan na yung property sa bata, yun ang medyo hazy sa akin. sana nga may attorney dito na makapag-comment.

or baka applicable yung sinasabi ni banker na pwede ipa-register sa name ng minor kung ibang property yung bibilihin, like from a third party tapos ipapa-register lang sa name ng minor kasi lalabas yung parent ang bumili (na may capacity to buy) pero nakaregister na kay minor. PAGING BANKER... paki-comment kung tama pagkaintindi ko please.   

[bankerII]

any document that is notarized is already a proof of
due execution:
"Subscribed and sworn to before me, a notary public......"

 

[ann08]

Hi, i do have the same situation about this. I think I need a good lawyer that will help us to transfer my parents property in my name. Please refer a lawyer for us to settle this? tia.

[bankerII]

you need a licensed real estate broker
more than a lawyer.
 

p.s.
check mo PAREB/REBAP