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HELP: assume balance with no deed of sale

msarino · 2 · 2208

msarino

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on: Jan 10, 2014, 04:08 PM
Hi guys, I hope you can help me with this. :)

My brother, who lives in the U.S., bought the rights to a lot from a friend who also lives there. The lot was only partially paid and the monthly amortization was still being paid. They went to a lawyer's office there and signed documents that said that my brother will be paying his friend the amount that she already paid to the developer and will pay for the monthly amortization from that point onwards. They did not execute a Deed of Sale here in the Philippines.

In 2007, the balance was fully paid, but due to negligence, my brother was not able to settle any documents needed. I hope you can give your opinion regarding the next steps that we can do regarding the ff:

1. Title is still under the developer's name. Who should be shouldering the realty tax that remained unpaid from 2007 to 2013?

2. Selling price of the lot remained the same when my brother bought the lot from his friend. Meaning, my brother's friend literally did not gain anything from selling the rights to the lot. Parang sacrifice sale? If you did not earn anything from the sale of your property, should you still pay Capital Gains Tax?

3. My brother lost contact with his friend. Since there was no Deed of Sale document to speak of, can we use that notarized document from the U.S. lawyer instead? Or should the Deed of Sale be executed in the Philippines?

Thank you so much for your help, your response would mean a lot to me! :)


julz

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Reply #1 on: Apr 07, 2014, 10:09 PM
Wala bang mag-co-contest? Other proof of payments?
I think it's best to ask the developer if pwede malipat ang name/owner
or better consult a lawyer here in the PH to help your case.
Alam ko pumapayag naman basta Consularized? document since nasa ibang bansa eh.


 


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