What are the requirements for Deed of sale of land?
A Deed of Sale document must contain the following:
- Name of the Buyer.
- Name of the Seller.
- Basic / Detailed Information about the property (floor area, lot area, address, etc.)
- Acknowledgement that seller is transferring rights to the buyer.
- Confirmation that the seller is the registered owner of the property.
How do I process a Deed of sale in the Philippines?
- Certified true copy of the new title or Photocopy of New Title but present original Owner’s copy of the new title.
- Photocopy of the previous title.
- Deed of conveyance.
- Certified true copy of latest Tax Declaration (For BIR purposes)
- Transfer Tax Receipt (original and 2 photocopies)
What is the process of transfer of land title in the Philippines?
These are the documents you need to have on hand: Original copy of the notarized Deed of Absolute Sale (DAS), plus two photocopies. Owner’s duplicate copy of the Transfer Certificate of Title (TCT) or the Condominium Certificate of Title (CCT) in case of sale of condominium units, plus two photocopies.
How much does it cost to process a Deed of sale?
Average Title transfer service fee is ₱20,000 for properties within Metro Manila and ₱30,000 for properties outside of Metro Manila. The rate typically includes payment for the food & gas of the person doing the transferring. Different brokerages, brokers and Title transfer companies charge different rates.
Who will make the deed of sale of land?
Who prepares the Deed of Sale? The deed of sale is drafted by the seller and it includes the details of the transaction. The document should then be notarized by a lawyer, otherwise, it will have no power when presented to authorities or court.
How much is the notary fee for deed of sale in the Philippines?
Notaries usually charge a fee of one percent to 1.5 percent of the property’s selling price for a Deed of Absolute Sale. Supposing the value of the property is P1,000,000, one percent of that amount is P10,000.
Is deed of sale valid without notary?
Thus, even a deed of sale of land is valid between the parties even if it is not notarized. … In sum, a private deed of sale involving land is valid and binding between the parties. Its validity is not affected by the lack of notarization.
Who will pay the deed of sale the buyer or seller?
A Deed of Sale is a contract where the seller delivers property to the buyer and the buyer pays the purchase price. The deed results in ownership over the property being transferred to the buyer upon its delivery.
Where can I process a deed of sale?
Both the parties have to be present in person along with two witnesses with all the relevant documents in the sub-registrar’s office to sign the sale deed and close the deal. The certified copy of the registered deed with the name of the buyer can be obtained from the registrar’s office.
How many months does it take to process land title in the Philippines?
According to Lipana, once you get the ball rolling, you can expect the process to take from 2.5 to 4 months, and that depends on how many buyers are going through the process at the BIR and the Register of Deeds.
How long does transfer of property take?
The transfer process can take up to 3 months. There are different phases involved in the transfer of a property. These phases are: Instruction: a conveyancer receives the instruction to transfer the property.