how to register a newly bought property in the philippines

8/21/2019 How to Register a Newly Bought Property in the Philippines

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How to Register a Newly Bought Property in the Philippines

We didn’t immediately realized that it is easier to fnd a property that you wants to own than

to get it registered in your name ater paying a large sum o money as it does not ends

there. Most o us are not amiliar with the whole process o registering a property to the

name o the new Owner. Here are a ew steps that may help you:

STEP 1 -DEED OF ABSOLUTE SALE

Anyone between the eller and !uyer "or their #awyers$ i any% may prepare the &eed o

ale as long as it has been e'ecuted beore and (otarized by a (otary )ublic.

NOTES:

a.% * you are a !uyer$ let me remind you that beore gi+ing all the money to the eller be

sure that you got rom him some important documents that you would need in the

registration o the property under your name such as a copy o his +alid*&$ a recent ,-, and

-*( or a copy o -*( ,ar original copy o all eal )roperty -a' eceipts in his possession.

b.% * the eller is a ,orporation$ you would need rom them a notarized secretary’s

certifcates containing the resolution o their board o directors appro+ing the sale and a

certifcate rom the ecurities and /'change ,ommission "/,% stating that its articles o

incorporation ha+e been registered with the /,.

STEP 2 –CITY ASSESSOR’S OFFICE (Located i t!e Cit" #a$$ o% &'icia$ #a$$)

ecure the ollowing:

a.) Certifed True Copy o Tax Declaration (House and Lot)

b.) Certifcate o No Improvement (I property is vacant lot)

c.) To !ri"inal Copies # $ or %I& and $ or &e"istry o Deeds

STEP * – LAND TA+ DI,ISION OF CITY TREASURER’S OFFICE (Located i t!e Cit"

#a$$ o% &'icia$ #a$$)

ecure the ollowing:

a.) Tax Clearance

(ote: *n order to obtain a -a' ,learance$ the eller must pay frst all arrears on )roperty -a'

"i any and must be updated as o document o sale%. -hereore$ it is important that you got



hold o the original o the o0cial receipts e+idencing payment by seller o realty ta'es o the

current and preceding years$ beore you ga+e him the ull payment o the sale.

We had an e'perience that the eller was able to ga+e us the )roperty -a' eceipt o the

current year howe+er$ upon application o -a' ,learance it was disco+ered that the pre+ious

f+e years was not paid1

STEP – BUREAU OF INTERNAL RE,ENUE

ubmit the ollowing:

• Tax identifcation number (TIN) o seller and buyer'

• Notaried deed o absolute saledocument o transer* but only p+otocopied

document s+all be retained by t+e %I&'

• Certifed true copy o t+e latest tax declaration issued by t+e City ,ssessor-s !ce

or t+e land and improvement applicable to t+e taxable transaction'

• !ner-s copy (or presentation purposes only) and p+otocopy (or aut+entication) o

t+e !ri"inal Certifcate o Title (!CT)* or t+e certifed true copy o t+e Transer

Certifcate o Title (TCT)'

• /orn declaration o 0it+ Improvement1 by at least one ($) o t+e transerees* or

certifcate o 0it+ Improvement1 issued by t+e City ,ssessor-s !ce.

2ou "and3or the eller$ depends on the agreement% ha+e to pay the ollowing:

a.) Capital 2ains Tax (34 or individual seller) or 5it+oldin" Tax (6.74 i seller is a

corporation) # it is t+e /eller-s responsibility to pay t+e Capital 2ains Tax (C2T) or 5it+oldin"

Tax unless t+e %uyer a"rees ot+erise

b.) Documentary /tamps Tax ($.74 o t+e sellin" price or onal value or air mar8et value*

+ic+ ever is +i"+er) # 9ayment or D/T is responsibility o t+e %uyer

2ou shall recei+ed the ollowing:

• T+e Certifcate ,ut+oriin" &e"istration

• T+e !ri"inal copy o t+e Deed o ,bsolute /ale stamped received by t+e %I&

• !ri"inal Copies o t+e %I& &eturn :orms $6;3 (C2T) and <;;; (D/T) stamped

received by t+e %I&I.o%tat Note/:

i.% ,apital 4ains -a' and &ocumentary -a' shall be computed based on elling )rice "per

&eed o ale%$ or Mar5et 6alue o -a' &eclaration$ or !* 7onal 6alue$ whiche+er is higher.

ii.% * the !uyer agrees to pay the ,apital 4ains -a'$ it +ery important that you get the

eller’s -a' *dentifcation (umber "-*(% and a copy o his *&



iii.% 8orms or payment o ,apital 4ains -a' can be secured rom the !* or may be

downloaded rom the !* website http:33www.bir.go+.ph

i+.% )ayment or ,apital 4ains -a' and &ocumentary tamps can only be paid at the !*

egional O0ce or !* authorized ban5s where the property is located. *t can be paid either

in cash or manager’s chec5.

+.% ,apital 4ains -a' shall be fled and paid to the !* within thirty days rom the date o

sale$ otherwise there will be interest and penalty.

+i.% &ocumentary tamps -a' shall be paid on or beore the 9th day o succeeding month

rom the date o sale.

STEP 0 – &UNICIPAL TREASURER’S OFFICE (Located i t!e Cit" #a$$ o% &'icia$

#a$$)

)ay the ollowing:

a.) Transer Tax is computed as $< o $4 (;.74) o t+e /ellin" 9rice or =onal >alue or :air?ar8et >alue o Tax Declaration* +ic+ever is +i"+er. # 9ayment o Transer Tax is

responsibility o t+e %uyer

N!T@/A

i.% -he transer ta' must be paid at the ,-O not later than ; days rom the date o

e'ecution o the &eed o Absolute ale or the notarization date thereo$ whiche+er is earlier.

ii.% )repare the ollowing re<uirements:

• ,ertifcate Authorizing egistration rom the !ureau o *nternal e+enue

• -a' clearance certifcate rom the -reasurer’s O0ce

• O0cial receipt o the !ureau o *nternal e+enue "or documentary stamp ta'%

• )hotocopy o &eed o ale

• )hotocopy o -ranser ,ertifcate o -itle "-,-%

• )hotocopy o -a' &eclaration

STEP 0 – REISTRY OF DEEDS (Located i t!e Cit" #a$$ o% &'icia$ #a$$)

)ay the ollowing:

a.) &e"istration :ee # ;.<74 o t+e sellin" price* or onal value or air mar8et value* +ic+ever is +i"+er. # 9ayment o &e"istration :ee is responsibility o t+e %uyer

Apply or registration and submit the ollowing documents:

• Copy o deed o absolute sale'

• !cial receipt evidencin" payment o transer tax'

http://www.bir.gov.ph/

http://www.bir.gov.ph/



• Certifcate ,ut+oriin" &e"istration rom t+e %I& (C,&) includin" ocial receipts or

payment o D/T and C2T'

• &eal property tax clearance rom t+e City Treasurer-s !ce'

• !ri"inal copy o oner-s duplicate o TCT (in t+e name o t+e seller)'

• !ri"inal or certifed true copy o t+e latest tax declaration'

* eller is a corporation$ include the ollowing:

• Notaried secretary-s certifcate containin" resolution o t+e board o directors o t+e

seller approvin" t+e sale'

• Notaried secretary-s certifcate containin" resolution o t+e board o directors o t+e

buyer approvin" t+e sale'

• ,rticles o incorporation o t+e buyer and byBlas' and

• Certifcate rom t+e /@C t+at t+e articles o incorporation o t+e buyer +ave been

re"istered.NOTE:

A new ,ertifcate o -itle under the (ew Owner’s (ame will be issued by egistry o &eeds.

!e sure to double chec5 the spelling o names and other inormation in the new -,- beore

recei+ing the new -,-.

STEP – &UNICIPAL ASSESSOR’S OFFICE (Located i t!e Cit" #a$$ o% &'icia$

#a$$)

/ecure t+e olloin"A

a.% (ew -a' &eclaration

NOTES:

i.% )repare the ollowing re<uirements:

• )hotocopy o notarized deed o sale

• ,opy o latest ta' declaration "in the name o seller%

• -a' clearance certifcate o real property ta'es rom the ,-O

• ,ertifcate authorizing registration rom the !*

• )hotocopy o o0cial receipt o transer ta' payment "original copy to be presented%

• -he transer certifcate o title "-,-% issued by the & "in the name o the buyer%

Hope t+is +elps 2ood luc8 it+ your transactions as I tell you* it as not t+at easy. AB) %ut i

you +ave uestion* please post it belo and I ill try my best to anser t+em.

how to register a newly bought property in the philippines

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