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Will you pay Property Tax when property is on loan?

andresubayon · 21 · 8378

andresubayon

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Reply #15 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


mark_ruiz2005

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Reply #16 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.


jomor

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Reply #17 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.


baldwinrastic

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Reply #18 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.


kulatir

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Reply #19 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.


ZiadSerghei

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Reply #20 on: Feb 12, 2014, 02:22 PM
Property taxes and insurance are paid out of escrow along with the mortgage.


 


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