What is arrearage? Arrearage means the state or condition of being in debt. Arrears, on the other hand, means the actual obligation to a debt which is unpaid. Thus, to summarize, arrearage means the state or condition when one is in arrears. Title Transfer Process For various reasons, a property owner may choose to let […]
Are you looking to buy and sell land or a condominium in the Philippines? Then you must prepare a number of requirements and pay the necessary taxes before you are able to transfer your title. What is the importance of having a land or condominium title? Can you transfer your land or condominium to another […]
One of the requirements to process the Transfer of the Condominium of Title (CCT) is securing a Management Certificate or Certificate of Management (COM) from the Condo Association. Basically, it is a legal clearance mandated by the Registry of Deeds Office (RDO) for the purpose of verifying any outstanding debts and dues before the Transfer […]
This kind of settlement does not require any court intervention, hence does not need to undergo such judicial proceedings. Applicability of Extrajudicial Settlement Pursuant to Section 1 Rule 74 of the Rules of Court of the Philippines, there are three (3) main requisites involved to undergo extrajudicial settlement of estate: The deceased or decedent was […]
One of the three (3) bases for tax computations used by the Bureau of Internal Revenue (BIR) is the Zonal Valuation, along with the Assessed Value by the assessor’s office of the municipality where the property is located and its actual selling price. Determining the Zonal Value of the property is significantly important to both […]
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