ConveyancingPH

While browsing foreclosed property for sale by a bank, I chanced upon a condominium unit with a familiar unit number.  I checked my email and I found that the property being sold is the same property which was referred to me by its owner several years back, asking me if I could sell the unit within weeks. Since competition is tough in the area at that time with lots of development being sold, it was difficult to sell the property within the time frame provided by the client. Now I am seeing it foreclosed and on sale. How can a person eyeing to buy a condo unit avoid foreclosures? First, before you buy, determine your end goal. Envision your end goal in mind. Are you buying because you want to lease? Are you buying because you are using the unit? Are you buying using bank financing or are you paying in cash? If you are paying using bank financing, how much are you supposed to be earning at the turn over date in order to pay your bank obligations? Second, set realistic and co...

Good news to people who have received inheritance in the past but have not transferred the same in their own names. President Rodrigo Duterte signed RA 11213 or the Estate Tax Amnesty Law on February 14, 2019. Among the salient features of the Estate Tax Amnesty Law are the following: The law covers estates of decedents who died on or before December 31, 2017, with or without assessments issued, whose estate taxes remained unpaid as if December 31, 2017. The estate to pay an estate amnesty tax at the rate of 6% based on the decedent's total net estate at the time of death. If the estate return was previously filed with the BIR, the estate tax rate of 6% of the net undeclared estate shall be payable. If the allowable deductions applicable at the time of the death of the decedent exceed the value of the gross estate, the benefits of the tax amnesty can be availed of, and the estate will just pay an estate amnesty tax of Php 5,000. Settle your estate amnesty tax within 2 ye...