Wednesday, January 8, 2020

How to Transfer Land Titles

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Here’s How to Transfer Land Titles in the Philippines
September 7, 2016; Last Updated on March 4, 2019 

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Here’s a 6-step guide to help you process the transfer of your land title:
File and secure the required documents at the Office of the Bureau of Internal Revenue Regional District (BIR RDO)

Before making your way to the office, make sure you have secured the complete list of all necessary documents. Bring hard copies of the required documents below:
(1) Original copy and (2) photocopies of the notarized Deed of Absolute Sale (DAS)
(1) Owner’s duplicate copy and (2) photocopies of the Transfer Certificate of Title (TCT) OR the Condominium Certificate of Title (CCT) in case of sale of condominium units
(1) Certified True Copies and (2) photocopies of the latest Tax Declaration for land and improvement of the real property. *NOTE: If the property sold is a vacant lot or no improvements have been made on it, a Sworn Declaration of No Improvement by at least one of the transferees or Certificate of No Improvement issued by the city or municipal assessor is required
Tax Identification Numbers (TIN) of the Seller and Buyer

Take note that there are additional requirements for certain cases. It’s best to double check to minimize numerous back and fourths:
If the person signing on the document is not the owner as it appears on the TCT or CCT: Special Power of Attorney (SPA)
If the SPA is executed abroad: Certification of the Philippine Consulate
If zonal value cannot readily be determined from the documents submitted: Location plan or vicinity map
For documents required in case of mortgage, judicial or extra-judicial settlement of estate, judicial and extra-judicial foreclosure of mortgage, consolidation of ownership, execution sale, and condominium project: Refer to the required documents filed under the Registration of Real Property with the Register of Deeds
Other requirements as may be required by law, rulings, regulations, or other issuances
Secure assessment of transfer taxes at the BIR and Authorized Agent Bank (AAB) OR Municipal OR City Treasurer’s Office

After filing the required documents, a BIR representative will calculate your Capital Gains Tax (CGT) and Documentary Stamp Tax (DST). Afterwards, they will ask you to sign three (3) copies each of the ff:
BIR Form 1706 (CGT)
BIR Form 2000 (DST)

These will then be filed at the AAB. For areas where there are no AABs, they will be filed with the Authorized City or Municipal Treasurer.
File documents at the BIR for the issuance of Certificate Authorizing Registration (CAR) OR BIR Clearance

You will receive a claim slip with the claim date of the CAR, which will be released along with the following documents:
Original copy of the Deed of Absolute Sale, stamped as received by the BIR
Owner’s Duplicate Copy of the TCT or the CCT
Original copies of the BIR Form 1706 (CGT) and Form 2000 (DST), stamped as received by the BIR
Copies of the Tax Declaration for land and improvement

According to BIR Memorandum Order No. 15-03, BIR RDOs should release CARs for all One Time Transaction (ONETT) within five (5) days of submitting all required documents.
Pay the Transfer Taxes and secure the Tax Clearance at the Local Treasurer’s Office

Aside from paying the Transfer Tax, you also need to secure the following documents for the issuance of the Tax Clearance:
(1) Original copy and (1) photocopy of the Deed of Absolute Sale
(1) photocopy of the Tax Declaration
Official Receipt of Payment of Real Property Tax and Special Education Fund Tax for the current year
File documents at the Registry of Deeds for the issuance of new land title

The new owner’s duplicate copy of the TCT and CCT in your name will be released once you have presented all of the following documents:
(1) Original Copy and (3) photocopies of the Deed of Absolute Sale, stamped as received by the BIR
Seller’s Owner’s Duplicate Copy of the TCT or CCT
(1) Original Copy of the CAR
(1) Original Copy of the Tax Clearance
Original Copies of Official Receipts of Payments of CGT, DST, Tax Clearance Certificate, and Transfer Fee
Original Copies of the Current Tax Declaration for land and improvement issued by the local assessor’s office
If the seller or buyer is a corporation, submit the following requirements:
Secretary’s Certificate authorizing the sale of the real property
Certified True Copy of the Articles of Incorporation and By Laws of the seller or buyer corporation
File documents at the Municipal or Provincial Assessor’s Office for the issuance of new Tax Declaration

For the release of the new Tax Declaration, present a photocopy of the following documents:
Deed of Absolute Sale
Transfer Tax Receipt
Latest Tax Receipt OR Tax Clearance

For some local assessors’ offices (ex. Makati City), additional documents are required:
Subdivision Plan, if lot is subdivided
Full-color photos of the house, lot, or condominium unit

Do not forget to accomplish this last step, as this is often missed out. Remember – ownership of a Tax Declaration should always be done after Land Title Transfer as the name on the Land Title should coincide with the name indicated on the Tax Declaration.

Disclaimer: Although much effort has been made in the creation of this guide, Lamudi Philippines and OMI Land Title Services advise homebuyers to always consult with professionals, such as real estate brokers and lawyers.

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