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PMT Forum's MOST POPULAR Discussion Boards => Property and Real Estate => Topic started by: andresubayon on Sep 25, 2013, 08:26 AM

Title: Will you pay Property Tax when property is on loan?
Post by: andresubayon on Sep 25, 2013, 08:26 AM
Sorry for the noob question, I have really no idea on this.

Will you pay Property Tax or amilyar even when property is on loan? If yes, how do you go about it?
:thankyou:
Title: Re: Will you pay Property Tax when property is on loan?
Post by: mxherr5 on Sep 25, 2013, 10:17 PM
You mean kung may home loan ka sir
at naka mortgage yung property sa bank?

Yes and actually yung bank ay maghihingi
ng proof of payment ng amilyar every year
(may specific date yun parang every anniversary,
dapat mag submit ka ng ITR, property tax receipt, etc)
Title: Re: Will you pay Property Tax when property is on loan?
Post by: andresubayon on Sep 26, 2013, 09:18 AM
You mean kung may home loan ka sir
at naka mortgage yung property sa bank?

Yes and actually yung bank ay maghihingi
ng proof of payment ng amilyar every year
(may specific date yun parang every anniversary,
dapat mag submit ka ng ITR, property tax receipt, etc)

Yes sir, naka-home loan po sa bank for 5 years. Naku, 3 years na pala ko hindi nakabayad amilyar, baka malaki na penalty. How do I go about in paying the amilyar, any idea on the process sir? TIA
Title: Re: Will you pay Property Tax when property is on loan?
Post by: mxherr5 on Sep 26, 2013, 11:34 AM
Bakit ganun sir? Sa Chinabank ni-rerequire nila mag submit ng property tax receipt?
Kasi naman, kung sakaling hindi ka nagbayad at i-foforclose nila yung property mo,
babayaran pa rin nila ang amilyar eh.

Sa cityhall po.
Actually, hindi pa ako nakapag bayad, kasi binayaran ko yung this year's amilyar thru
the developer. next year pa ako mag babayad on my own.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: n5110 on Oct 04, 2013, 10:49 PM
Kung naka loan sa banko obligado po na kayo ang magbayad ng real estate tax hanggang sa ma fully paid nyo sa bank. Madali lang ito, go to city hall kung san naka sakop ang property. Go to real estate section at sabihin ang address ng property. Bibigyan ka ng computation. Review nyo lang na dapat nasa pangalan ng bank ang property. Then bayaran nyo na sa casier. Kailangan nyo ito dahil once na mag execute ng deed of absolute sale ang bank kailangan updated ang estate tax pay,ents.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: wilch23 on Oct 05, 2013, 08:57 PM
Di ba the title should be under your name even if you buy it thru a bank loan? That is your collateral din sa bank.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: n5110 on Oct 06, 2013, 04:40 PM
Kung nabili ng ts sa bank lets say foreclosed property. The title will be under the bank until the loan is paid. Kung ni loan naman ng ts at ginamit nya na collateral ang property niya,
. The bank will put a mortgage annotation sa title. Until the loan is paid off the bank will release a cancelation of mortgage.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: andresubayon on Oct 08, 2013, 01:24 PM
salamat po sa reply. I'll go to QC City hall and ask for the fees. :)
Title: Re: Will you pay Property Tax when property is on loan?
Post by: andresubayon on Oct 14, 2013, 11:50 AM
I just went to city hall and they said that the property is not yet declared by my developer so they can't give an assessment for the tax (amilyar) that I have to pay. Is this a common situation?

Thanks in advance.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: ferrariEverest on Oct 14, 2013, 03:41 PM
Undeclared? Nakontak mo na yung developer?

Sir, sino developer nung property? Hindi pa ba gawa yung property?
Title: Re: Will you pay Property Tax when property is on loan?
Post by: andresubayon on Oct 14, 2013, 04:54 PM
Undeclared? Nakontak mo na yung developer?

Sir, sino developer nung property? Hindi pa ba gawa yung property?

Hi Sir, I prefer not disclose the developer muna but what they said is that the mother title is not yet subdivided and it will take 3-5 years for it to be subdivided. What they can give me upon my full payment is a certificate of full payment and certificate of ownership.

Tama po ba ito?
Title: Re: Will you pay Property Tax when property is on loan?
Post by: ferrariEverest on Oct 14, 2013, 05:22 PM
Hindi ako sigurado, Sir. May experience na ko sa property transactions pero wala pa sa loan at hindi ko pa na-encounter yang experience nyo.

Baka sa developer muna nyo idadaan yung bayad sa amilyar? Kaya ko naitanong kung nakontak nyo na developer.

Reliable ho ba yang developer? Madami na bang clients na gaya nyo na bumili na sa kanila?

Ang mai-suggest ko ay i-PM (private message) nyo si sir bauer kung marami kayong katanungan. Isipin ko rin yung ibang pwede nyo i-PM dito.

Good luck Sir
Title: Re: Will you pay Property Tax when property is on loan?
Post by: n5110 on Oct 16, 2013, 06:39 PM
naku sir pag ganito ang sitwasyon matakot ka na. kung hinde pa na subdivide ang mother title trabaho ng developer na ayusin yan. at ang alam ko hinde sila dapat manghingi ng pang bayad ng real estate tax. in the first place sa munisipyo lang dapat bayaran ito. ako naloko na ng developer. on going ang kaso. sakit sa ulo talaga itong mga ito.

lessons learn, due diligence.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: newbie_buboy on Oct 16, 2013, 11:17 PM
simple lang boss. kung nakapangalan na sayo ung title ng property ikaw na magbabayad ng tax. pero kung in house ung loan mo developer pa rin ang magbabayad
Title: Re: Will you pay Property Tax when property is on loan?
Post by: casanova on Oct 17, 2013, 08:51 AM
developer pa ang dapat mag bayad nyan kasi asa kanya pa yung title, In my experience, mga 3-5 years nga bago lumabas yung individual title, kalimitan kasi ginagawa ng developer pagnabenta na lahat saka pinapa subdivided para deretso na sa individual names yung mga titles
Title: Re: Will you pay Property Tax when property is on loan?
Post by: andresubayon on Oct 17, 2013, 02:14 PM
developer pa ang dapat mag bayad nyan kasi asa kanya pa yung title, In my experience, mga 3-5 years nga bago lumabas yung individual title, kalimitan kasi ginagawa ng developer pagnabenta na lahat saka pinapa subdivided para deretso na sa individual names yung mga titles

Kung hindi pa na subdivide at ganun katagal, hindi ba mahirap i-resell ng first owner yung unit? thanks
Title: Re: Will you pay Property Tax when property is on loan?
Post by: mark_ruiz2005 on Nov 25, 2013, 11:50 AM
First, check the contract with the developer and find out if your contract is a contract to sell or contract of sale. But since the title is not yet subdivided, I presume that the contract is a contract to sell wherein the ownership of title will only registered under your name only upon full payment.
Second, check the provisions of the contract about the responsibility of paying taxes.
Lastly, the real property tax should be paid in order to avoid delinquency that will results to "tax levy" by the local government.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: jomor on Nov 28, 2013, 08:59 PM
Yes, you are already obliged to pay the amilyar or real property tax even the property is on loan... please check your document entitled 'Contract To Sell'... there is a provision that states you are responsible for taxes on that property.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: baldwinrastic on Dec 13, 2013, 08:39 PM
Sorry for the noob question, I have really no idea on this.

Will you pay Property Tax or amilyar even when property is on loan? If yes, how do you go about it?
:thankyou:

Yes,, definitely you need to pay the taxes whether its self owned or loan owned property  :rakenrol:
And if you'll see the rules for property tax then its clearly mentioned over there also.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: kulatir on Dec 24, 2013, 11:35 AM
developer pa ang dapat mag bayad nyan kasi asa kanya pa yung title, In my experience, mga 3-5 years nga bago lumabas yung individual title, kalimitan kasi ginagawa ng developer pagnabenta na lahat saka pinapa subdivided para deretso na sa individual names yung mga titles
Pero diba one of the requirements ng bank loan eh dapat nakapangalan sa borrower yung title, but im not so sure sa pagibig kase ganyan eh. Kung hindi pa subdivided ibig sabihin na approve ng bank yung loan na ganyan ang status? Pwede lang siguro mangyari yan kung may kilala sila sa bank. In my case kase ganyan din mag one year na sa january yung loan takeout pero wala pa rin yung land title.
Title: Re: Will you pay Property Tax when property is on loan?
Post by: ZiadSerghei on Feb 12, 2014, 02:22 PM
Property taxes and insurance are paid out of escrow along with the mortgage.