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Deed of Sale questions

sourcing.pro · 19 · 6792

jomor

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Reply #15 on: Jun 17, 2013, 05:01 AM
I believe it is no longer necessary because the Deed of Sale document indicates this: "NOW THEREFORE, for and in consideration of the amount of xxx (Pxxx) Philippine Currency, the receipt whereof is hereby acknowledged by the SELLERS from the BUYERS ..."

I experienced being asked for a receipt at the RDO office but I pointed out to the Officer of the Day about this paragraph in the Deed of Absolute Sale... which they understood, and no further questions asked...


mark_ruiz2005

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Reply #16 on: Nov 25, 2013, 03:44 PM
Actually, some RDO's require it. They are not saying why but I think it's their way of verifying a cash sale and an instalment sale or maybe to make sure there is no undervaluation being done. Of course it's easy to just break down the MC to 2 checks so I think it's the first reason.
A Copy of checks in any form is not being required by the bir rdo or the registry of deeds. What is being required by the bir is a copy of official receipt if the seller is a corporation and acknowledgment receipt (notarized) if otherwise. On the otherhand, the registry of deeds needs a copy of the car, transfer tax payment, and deed of sale duly stamped by the bir since its duty is ministerial in nature. Please take note also that not all sales of property should be in the form or checks or managers check in particular, it can be also in form of cash or via loan take out from other banks. If for the sake of arguments  a copy of managers check is required to establish that the amount stated in the deed is not under-value, how about if the payment is in cash?


jomor

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Reply #17 on: Nov 28, 2013, 08:54 PM
Hi!

After paying the seller the Manager's Check on the sale of property, does the BIR require a xerox copy of the manger's check as proof of payment to the seller?
Thanks!
If you signed a Deed of Absolute Sale, you don't need any receipt of payment anymore... I would like to direct you to the paragraph in the Deed of Absolute Sale which states: "Now therefore, for and in consideration of the aforesaid premises and more specifically the sum of ______, Philippine Currency, the receipt whereof is hereby acknowledged in full ..."

I had a similar experience with BIR and they asked for a separate receipt of payment... I just pointed out this particular provision which is very clear... and even notarized... what other document or documents that will defeat this particular paragraph of the Deed of Absolute Sale? I think what the BIR has asked is just a way of (?)... you know what I mean... hope this helps.


julz

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Reply #18 on: Apr 07, 2014, 10:01 PM
Paano malalaman kung magkano ang computation ng BIR sa property mo? May formula ba yun?
If lote madali lang kasi per sqm, zonal values, what if meron minimal improvement?

Masama ba maglagay ng undervalued price? Eh kung yun ang price na nakapag-sunduan? especially if motivated seller.


 


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