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 interested person without it?
A land title or condominium title is a document that proves that you have legal ownership of the property that you wish to transfer. It means that you have all the rights as a seller to bestow upon another the same rights once the transfer of title has been completed.
In order to begin the processing of the transfer of title, you will need the following requirements:
A Deed of Conveyance
It is recommended that these are executed in 8 copies. The multiple copies are needed by the notary public, seller, buyer, seller’s real estate agent, buyer’s real estate agent, Homeowners Association or the Condominium Corporation (if part of a subdivision or a condominium), government agencies (BIR, City Hall, Registry of Deeds) and a reserve copy.
A deed of conveyance can come in many forms such as Deed of Donation, Deed of Absolute Sale,Extrajudicial Settlement of Estate with Sale, among others. Included in the deed of conveyance are the tax identification numbers of the different parties in the transaction. If the transaction is that of a sale, an Acknowledgement Receipt is needed to be issued. However, if the property is sold by a corporation, an Official Receipt is needed.
Three (3) copies of the Certified True Copy of the Title
Owner’s Duplicate Copy of the Title
Condominium Certificate of Management (COM)/Homeowners Association Clearance
This is needed if the property is a Condominium unit or a property located within a subdivision.
A Special Power of Attorney to Process the Title Transfer signed by the seller for the processing of the transfer of title by an authorized representative
Photocopy of the valid ID of all the parties involved in the deed of conveyance with original specimen signatures.
Tax Clearance
Certified True Copy of the most recent Tax Declaration
Certificate of No Improvement for sale on lots
Location map
3” x 5” photos of the front side of the property in color
For condominiums, it must show the unit door with the unit number. For house and lot, it must show the front side of the property where the house number is visible.
Need further information and assistance regarding the documents needed to transfer a title in the Philippines? Talk to our team at FILEDOCSPHIL to know more about the requirements and process. Call us today at(+632) 8478 5826or send an email to [email protected] for more information.